SRN Advisors LLC Raises Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

SRN Advisors LLC lifted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 5.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,924 shares of the business services provider’s stock after purchasing an additional 630 shares during the quarter. Broadridge Financial Solutions comprises about 2.0% of SRN Advisors LLC’s portfolio, making the stock its 11th biggest position. SRN Advisors LLC’s holdings in Broadridge Financial Solutions were worth $2,349,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Second Line Capital LLC grew its position in Broadridge Financial Solutions by 5.9% during the 2nd quarter. Second Line Capital LLC now owns 11,945 shares of the business services provider’s stock worth $2,362,000 after purchasing an additional 665 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Broadridge Financial Solutions by 13.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,234 shares of the business services provider’s stock worth $1,425,000 after buying an additional 849 shares during the period. Texas Capital Bank Wealth Management Services Inc grew its holdings in shares of Broadridge Financial Solutions by 9.7% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 1,735 shares of the business services provider’s stock valued at $342,000 after buying an additional 154 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its holdings in shares of Broadridge Financial Solutions by 358.9% during the second quarter. Susquehanna Fundamental Investments LLC now owns 30,887 shares of the business services provider’s stock valued at $6,085,000 after buying an additional 24,157 shares during the last quarter. Finally, Scientech Research LLC acquired a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at $328,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. Royal Bank of Canada lifted their price target on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. DA Davidson reaffirmed a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. raised their price target 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. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $213.33.

Insider Transactions at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 17,534 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total value of $3,741,930.94. Following the completion of the transaction, the president now owns 50,237 shares in the company, valued at approximately $10,721,078.17. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, President Christopher John Perry sold 17,534 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total value of $3,741,930.94. Following the sale, the president now owns 50,237 shares of the company’s stock, valued at approximately $10,721,078.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Laura Matlin sold 673 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of the sale, the vice president now directly owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. The disclosure for this sale can be found here. Insiders have sold a total of 134,386 shares of company stock valued at $28,112,824 in the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Stock Down 0.2 %

Shares of BR stock opened at $214.70 on Wednesday. Broadridge Financial Solutions, Inc. has a twelve month low of $166.73 and a twelve month high of $223.81. The stock has a market cap of $25.37 billion, a P/E ratio of 36.64 and a beta of 1.05. The stock has a 50 day moving average of $211.26 and a 200 day moving average of $203.82. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the firm earned $3.21 EPS. The business’s quarterly revenue was up 5.7% on a year-over-year basis. As a group, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be given a $0.88 dividend. The ex-dividend date is Thursday, September 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.64%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s dividend payout ratio is 60.07%.

Broadridge Financial Solutions 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.