Empowered Funds LLC Buys 606 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Empowered Funds LLC lifted its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 32.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,468 shares of the business services provider’s stock after buying an additional 606 shares during the period. Empowered Funds LLC’s holdings in Broadridge Financial Solutions were worth $531,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. CreativeOne Wealth LLC grew its holdings in shares of Broadridge Financial Solutions by 22.0% during the 1st quarter. CreativeOne Wealth LLC now owns 1,549 shares of the business services provider’s stock worth $317,000 after purchasing an additional 279 shares in the last quarter. Lazard Asset Management LLC lifted its position in Broadridge Financial Solutions by 157.0% in the first quarter. Lazard Asset Management LLC now owns 275 shares of the business services provider’s stock worth $56,000 after purchasing an additional 168 shares during the period. Dynasty Wealth Management LLC acquired a new stake in Broadridge Financial Solutions during the first quarter worth $1,259,000. B. Riley Wealth Advisors Inc. increased its holdings in 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 valued at $979,000 after buying an additional 1,469 shares during the period. Finally, California State Teachers Retirement System raised its stake 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 valued at $40,287,000 after buying an additional 2,698 shares in the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Performance

BR stock opened at $230.24 on Monday. The company has a 50 day moving average price of $217.48 and a 200 day moving average price of $209.27. Broadridge Financial Solutions, Inc. has a fifty-two week low of $185.30 and a fifty-two week high of $230.30. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. The stock has a market capitalization of $26.91 billion, a PE ratio of 39.83 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, topping analysts’ consensus estimates of $0.97 by $0.03. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The company’s revenue was down .6% on a year-over-year basis. During the same period last year, the company earned $1.09 earnings per share. Analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions’s payout ratio is 60.90%.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 24,185 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total value of $5,325,778.85. Following the sale, the insider now directly owns 27,137 shares in the company, valued at approximately $5,975,838.77. This trade represents a 47.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Maura A. Markus sold 3,880 shares of Broadridge Financial Solutions stock in a transaction on Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the transaction, the director now directly owns 27,788 shares in the company, valued at approximately $6,308,431.76. This represents a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,294 shares of company stock valued at $16,944,095 in the last 90 days. 1.30% of the stock is owned by company insiders.

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.