Broadridge Financial Solutions, Inc. $BR Stock: Fulcrum Asset Management LLP Raises Stake

Fulcrum Asset Management LLP raised its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 6,689.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,246 shares of the business services provider’s stock after acquiring an additional 6,154 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Broadridge Financial Solutions were worth $1,005,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. raised its stake in Broadridge Financial Solutions by 218.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 14,970 shares of the business services provider’s stock worth $2,050,000 after buying an additional 10,266 shares during the period. Western Wealth Management LLC acquired a new stake in Broadridge Financial Solutions in the first quarter valued at approximately $959,000. Andra AP fonden increased its holdings in shares of Broadridge Financial Solutions by 96.5% during the second quarter. Andra AP fonden now owns 170,757 shares of the business services provider’s stock valued at $23,385,000 after acquiring an additional 83,857 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Broadridge Financial Solutions by 29.9% during the first quarter. Empowered Funds LLC now owns 48,430 shares of the business services provider’s stock valued at $7,869,000 after acquiring an additional 11,152 shares in the last quarter. Finally, Stoneridge Investment Partners LLC acquired a new position in shares of Broadridge Financial Solutions during the second quarter worth approximately $910,000. 90.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 2,501 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $159.76, for a total transaction of $399,559.76. Following the transaction, the vice president directly owned 8,800 shares of the company’s stock, valued at $1,405,888. This trade represents a 22.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Maura A. Markus sold 3,180 shares of the business’s stock in a transaction dated Thursday, November 12th. The stock was sold at an average price of $191.89, for a total transaction of $610,210.20. Following the transaction, the director owned 33,769 shares in the company, valued at approximately $6,479,933.41. This trade represents a 8.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BR. Morgan Stanley increased their target price on Broadridge Financial Solutions from $176.00 to $181.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 4th. UBS Group restated a “neutral” rating and set a $180.00 price objective on shares of Broadridge Financial Solutions in a report on Monday, August 17th. DA Davidson reaffirmed a “buy” rating and issued a $214.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, October 27th. JPMorgan Chase & Co. lifted their price objective on shares of Broadridge Financial Solutions from $191.00 to $201.00 and gave the company a “neutral” rating in a report on Wednesday, November 4th. Finally, Weiss Ratings raised shares of Broadridge Financial Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.71.

Broadridge Financial Solutions Stock Down 0.7%

Shares of NYSE:BR opened at $191.56 on Friday. The business’s 50 day moving average is $173.03 and its 200 day moving average is $165.53. Broadridge Financial Solutions, Inc. has a 12-month low of $133.83 and a 12-month high of $233.10. The stock has a market cap of $21.67 billion, a price-to-earnings ratio of 21.17 and a beta of 0.90. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.28.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, November 3rd. The business services provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.19. Broadridge Financial Solutions had a return on equity of 40.32% and a net margin of 13.94%. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the firm posted $1.51 EPS. Broadridge Financial Solutions’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 10.58 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 11th. Stockholders of record on Thursday, December 10th will be paid a $1.09 dividend. The ex-dividend date is Thursday, December 10th. This represents a $4.36 annualized dividend and a dividend yield of 2.3%. Broadridge Financial Solutions’s dividend payout ratio is presently 48.18%.

Broadridge Financial Solutions Profile

Broadridge Financial Solutions provides technology and operations services to financial institutions, public companies, and investors. Its platforms support investor communications, corporate governance, and the processing of financial transactions. The company’s services include preparing and distributing proxy materials and other shareholder communications, supporting shareholder voting, and providing solutions for trading, clearing, settlement, and asset servicing. Broadridge also offers technology for wealth and investment management, including portfolio and account management, data, and regulatory reporting.