Brown Brothers Harriman & Co. Acquires 329 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Brown Brothers Harriman & Co. grew its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 49.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 998 shares of the business services provider’s stock after purchasing an additional 329 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Broadridge Financial Solutions were worth $215,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Lazard Asset Management LLC grew its position in shares of Broadridge Financial Solutions by 157.0% in the 1st quarter. Lazard Asset Management LLC now owns 275 shares of the business services provider’s stock worth $56,000 after buying an additional 168 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its position in shares of Broadridge Financial Solutions by 44.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,777 shares of the business services provider’s stock worth $979,000 after buying an additional 1,469 shares during the last quarter. California State Teachers Retirement System grew its position in shares of Broadridge Financial Solutions by 1.4% in the 1st quarter. California State Teachers Retirement System now owns 196,655 shares of the business services provider’s stock worth $40,287,000 after buying an additional 2,698 shares during the last quarter. Tidal Investments LLC grew its position in shares of Broadridge Financial Solutions by 99.6% in the 1st quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider’s stock worth $3,627,000 after buying an additional 8,837 shares during the last quarter. Finally, Comerica Bank grew its position in shares of Broadridge Financial Solutions by 5.0% in the 1st quarter. Comerica Bank now owns 45,797 shares of the business services provider’s stock worth $9,382,000 after buying an additional 2,182 shares during the last quarter. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of NYSE BR opened at $235.80 on Thursday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions, Inc. has a 12 month low of $186.19 and a 12 month high of $237.74. The company has a 50 day simple moving average of $218.43 and a two-hundred day simple moving average of $209.84. The stock has a market cap of $27.56 billion, a price-to-earnings ratio of 40.80 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the business posted $1.09 EPS. The business’s quarterly revenue was down .6% compared to the same quarter last year. As a group, analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.49%. The ex-dividend date is Friday, December 13th. Broadridge Financial Solutions’s payout ratio is 60.90%.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, Director Maura A. Markus sold 3,880 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $227.02, for a total value of $880,837.60. Following the completion of the transaction, the director now directly owns 27,788 shares in the company, valued at $6,308,431.76. The trade was a 12.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Richard J. Daly sold 21,938 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the completion of the transaction, the chairman now owns 105,094 shares of the company’s stock, valued at approximately $21,823,820.04. This represents a 17.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,294 shares of company stock worth $16,944,095. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. UBS Group assumed coverage on shares of Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a “neutral” rating and a $250.00 target price on the stock. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Morgan Stanley boosted their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Broadridge Financial Solutions presently has a consensus rating of “Hold” and an average target price of $222.43.

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.