Broadridge Financial Solutions, Inc. (NYSE:BR) Position Boosted by SRN Advisors LLC

SRN Advisors LLC grew its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 13.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,294 shares of the business services provider’s stock after buying an additional 1,357 shares during the period. Broadridge Financial Solutions accounts for 1.8% of SRN Advisors LLC’s portfolio, making the stock its 9th biggest position. SRN Advisors LLC’s holdings in Broadridge Financial Solutions were worth $2,314,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its holdings in Broadridge Financial Solutions by 10.3% in the first quarter. EverSource Wealth Advisors LLC now owns 591 shares of the business services provider’s stock worth $114,000 after acquiring an additional 55 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Broadridge Financial Solutions by 5.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 55,494 shares of the business services provider’s stock valued at $11,329,000 after acquiring an additional 2,685 shares during the period. Cetera Advisors LLC lifted its holdings in Broadridge Financial Solutions by 66.4% in the first quarter. Cetera Advisors LLC now owns 9,542 shares of the business services provider’s stock valued at $1,955,000 after acquiring an additional 3,807 shares during the period. Cetera Investment Advisers lifted its holdings in Broadridge Financial Solutions by 244.7% in the first quarter. Cetera Investment Advisers now owns 27,070 shares of the business services provider’s stock valued at $5,546,000 after acquiring an additional 19,216 shares during the period. Finally, Burney Co. lifted its holdings in Broadridge Financial Solutions by 3.8% in the first quarter. Burney Co. now owns 20,443 shares of the business services provider’s stock valued at $4,188,000 after acquiring an additional 751 shares during the period. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Up 0.5 %

NYSE:BR traded up $1.02 during midday trading on Friday, reaching $215.97. The company had a trading volume of 655,878 shares, compared to its average volume of 472,736. The firm has a market capitalization of $25.52 billion, a price-to-earnings ratio of 36.86 and a beta of 1.04. The stock’s fifty day simple moving average is $202.06 and its 200-day simple moving average is $201.03. Broadridge Financial Solutions, Inc. has a 12-month low of $164.99 and a 12-month high of $216.86. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Wednesday, May 8th. The business services provider reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the firm posted $2.05 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 14th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.48%. Broadridge Financial Solutions’s payout ratio is 54.61%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 3,473 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total value of $687,862.38. Following the completion of the transaction, the director now directly owns 22,588 shares of the company’s stock, valued at approximately $4,473,779.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.40, for a total value of $501,000.00. Following the sale, the vice president now owns 9,361 shares in the company, valued at $1,875,944.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert N. Duelks sold 3,473 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total transaction of $687,862.38. Following the completion of the sale, the director now owns 22,588 shares in the company, valued at approximately $4,473,779.28. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BR shares. Royal Bank of Canada reissued an “outperform” rating and set a $239.00 price target on shares of Broadridge Financial Solutions in a research note on Friday, June 28th. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, July 20th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $206.67.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.