Cross Staff Investments Inc Invests $206,000 in Broadridge Financial Solutions, Inc. (NYSE:BR)

Cross Staff Investments Inc purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,000 shares of the business services provider’s stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BR. Procyon Advisors LLC grew its stake in Broadridge Financial Solutions by 2.3% during the 4th quarter. Procyon Advisors LLC now owns 2,319 shares of the business services provider’s stock valued at $477,000 after acquiring an additional 52 shares in the last quarter. Optas LLC raised its holdings in shares of Broadridge Financial Solutions by 3.8% during the 4th quarter. Optas LLC now owns 1,565 shares of the business services provider’s stock valued at $322,000 after purchasing an additional 57 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Broadridge Financial Solutions by 3.8% in the 4th quarter. Signaturefd LLC now owns 1,596 shares of the business services provider’s stock valued at $328,000 after purchasing an additional 58 shares during the last quarter. Teamwork Financial Advisors LLC boosted its holdings in Broadridge Financial Solutions by 1.6% in the fourth quarter. Teamwork Financial Advisors LLC now owns 4,090 shares of the business services provider’s stock worth $841,000 after purchasing an additional 63 shares in the last quarter. Finally, Tributary Capital Management LLC increased its position in Broadridge Financial Solutions by 1.6% during the fourth quarter. Tributary Capital Management LLC now owns 4,372 shares of the business services provider’s stock worth $900,000 after buying an additional 68 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 12,200 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $204.71, for a total value of $2,497,462.00. Following the sale, the insider now directly owns 32,480 shares in the company, valued at $6,648,980.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Douglas Richard Deschutter sold 12,200 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the sale, the insider now directly owns 32,480 shares in the company, valued at approximately $6,648,980.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Thomas P. Carey sold 12,731 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total value of $2,559,185.62. Following the completion of the transaction, the vice president now owns 13,303 shares of the company’s stock, valued at approximately $2,674,169.06. The disclosure for this sale can be found here. Insiders have sold a total of 48,483 shares of company stock valued at $9,745,637 over the last quarter. 1.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Raymond James upped their price target on Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Royal Bank of Canada upped their target price on Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Evercore ISI reissued an “outperform” rating and issued a $230.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. DA Davidson reaffirmed a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Finally, StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Broadridge Financial Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $206.67.

Broadridge Financial Solutions Stock Performance

Shares of BR traded down $0.03 during trading hours on Friday, reaching $195.53. 86,962 shares of the company traded hands, compared to its average volume of 499,079. Broadridge Financial Solutions, Inc. has a 1-year low of $140.06 and a 1-year high of $210.24. The stock has a market cap of $23.03 billion, a P/E ratio of 34.06 and a beta of 0.99. The stock’s fifty day moving average is $200.68 and its 200 day moving average is $194.45. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.40 and a current ratio of 1.40.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Thursday, February 1st. The business services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company earned $0.91 EPS. Equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a dividend of $0.80 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.20 annualized dividend and a dividend yield of 1.64%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 55.75%.

Broadridge Financial Solutions Company 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.