Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. raised its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 21.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,698 shares of the business services provider’s stock after purchasing an additional 2,235 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Broadridge Financial Solutions were worth $2,502,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. LifeSteps Financial Inc. acquired a new stake in shares of Broadridge Financial Solutions in the first quarter worth $32,000. EdgeRock Capital LLC acquired a new stake in Broadridge Financial Solutions during the 2nd quarter valued at $32,000. Rothschild Investment LLC bought a new position in Broadridge Financial Solutions during the 2nd quarter valued at $32,000. New Covenant Trust Company N.A. bought a new position in Broadridge Financial Solutions during the 1st quarter valued at $34,000. Finally, Family Firm Inc. bought a new position in Broadridge Financial Solutions during the 2nd quarter valued at $37,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analyst Ratings Changes

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

Broadridge Financial Solutions Price Performance

NYSE:BR opened at $210.96 on Wednesday. The stock has a market cap of $24.93 billion, a P/E ratio of 36.00 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a one year low of $166.73 and a one year high of $223.81. The company has a fifty day moving average price of $209.91 and a 200 day moving average price of $203.19. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data 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 firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The company’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.21 EPS. Analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.67%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 60.07%.

Insider Activity

In related news, President Christopher John Perry sold 31,539 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the transaction, the president now directly owns 67,215 shares in the company, valued at $13,938,374.55. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Timothy C. Gokey sold 25,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $209.11, for a total value of $5,227,750.00. Following the transaction, the chief executive officer now directly owns 200,675 shares in the company, valued at $41,963,149.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Christopher John Perry sold 31,539 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the sale, the president now directly owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. The disclosure for this sale can be found here. Insiders have sold 134,386 shares of company stock worth $28,112,824 over the last ninety days. Insiders own 1.60% of the company’s stock.

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.