Exchange Traded Concepts LLC Acquires New Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Exchange Traded Concepts LLC bought a new position in Broadridge Financial Solutions, Inc. (NYSE:BR) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 635 shares of the business services provider’s stock, valued at approximately $137,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ballentine Partners LLC boosted its position in shares of Broadridge Financial Solutions by 5.2% during the 1st quarter. Ballentine Partners LLC now owns 1,572 shares of the business services provider’s stock valued at $322,000 after acquiring an additional 77 shares during the last quarter. Brookstone Capital Management acquired a new position in Broadridge Financial Solutions in the 1st quarter valued at about $253,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Broadridge Financial Solutions by 86.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 29,814 shares of the business services provider’s stock valued at $6,108,000 after buying an additional 13,851 shares during the period. Transform Wealth LLC increased its holdings in shares of Broadridge Financial Solutions by 6.2% during the 1st quarter. Transform Wealth LLC now owns 39,098 shares of the business services provider’s stock worth $8,040,000 after buying an additional 2,290 shares during the last quarter. Finally, New England Research & Management Inc. purchased a new stake in shares of Broadridge Financial Solutions during the 1st quarter valued at approximately $1,465,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BR shares. JPMorgan Chase & Co. lifted their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada raised 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. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.33.

Insider Buying and Selling

In other news, President Christopher John Perry sold 17,534 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the sale, the president now owns 50,237 shares in the company, valued at $10,721,078.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, President Christopher John Perry sold 17,534 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the transaction, the president now directly owns 50,237 shares in the company, valued at $10,721,078.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the transaction, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at $41,963,149.25. This represents a 0.00 % decrease in their ownership of the stock. 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 over the last quarter. 1.60% of the stock is currently owned by insiders.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock opened at $216.91 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a 52 week low of $166.73 and a 52 week high of $224.32. The firm’s 50 day moving average is $212.93 and its two-hundred day moving average is $205.43. The firm has a market capitalization of $25.63 billion, a P/E ratio of 37.02 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.01. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.21 earnings per share. Research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a dividend of $0.88 per share. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.62%. 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.