Broadridge Financial Solutions, Inc. $BR Shares Bought by Lido Advisors LLC

Lido Advisors LLC lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 126.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,444 shares of the business services provider’s stock after buying an additional 7,506 shares during the quarter. Lido Advisors LLC’s holdings in Broadridge Financial Solutions were worth $2,167,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Gen Wealth Partners Inc grew its holdings in Broadridge Financial Solutions by 42.4% during the 3rd quarter. Gen Wealth Partners Inc now owns 6,937 shares of the business services provider’s stock worth $1,118,000 after acquiring an additional 2,065 shares during the period. AlphaCore Capital LLC lifted its stake in shares of Broadridge Financial Solutions by 124.2% in the 3rd quarter. AlphaCore Capital LLC now owns 4,855 shares of the business services provider’s stock valued at $785,000 after purchasing an additional 2,690 shares during the period. Running Oak Capital LLC increased its holdings in Broadridge Financial Solutions by 4.5% in the third quarter. Running Oak Capital LLC now owns 69,439 shares of the business services provider’s stock worth $11,214,000 after purchasing an additional 3,013 shares in the last quarter. Fulcrum Asset Management LLP grew its position in shares of Broadridge Financial Solutions by 6,689.1% during the 3rd quarter. Fulcrum Asset Management LLP now owns 6,246 shares of the business services provider’s stock worth $1,005,000 after buying an additional 6,154 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Broadridge Financial Solutions by 22.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,751 shares of the business services provider’s stock worth $1,249,000 after buying an additional 1,408 shares during the period. Institutional investors own 90.03% of the company’s stock.

Wall Street Analysts Forecast Growth

BR has been the subject of several research analyst reports. Morgan Stanley lifted their price objective on shares of Broadridge Financial Solutions from $176.00 to $181.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 4th. DA Davidson reaffirmed a “buy” rating and issued a $214.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, October 27th. UBS Group restated a “neutral” rating and issued a $180.00 target price on shares of Broadridge Financial Solutions in a research note on Monday, August 17th. Royal Bank Of Canada boosted their target price on Broadridge Financial Solutions from $225.00 to $226.00 and gave the company an “outperform” rating in a research report on Monday, August 31st. Finally, JPMorgan Chase & Co. upped their price target on Broadridge Financial Solutions from $191.00 to $201.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 4th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Broadridge Financial Solutions has a consensus rating of “Moderate Buy” and an average target price of $212.71.

Broadridge Financial Solutions Stock Up 0.4%

BR stock traded up $0.80 during midday trading on Friday, reaching $192.27. 725,997 shares of the company’s stock traded hands, compared to its average volume of 1,091,831. The company has a market cap of $21.75 billion, a price-to-earnings ratio of 21.25 and a beta of 0.90. The firm’s fifty day moving average price is $173.29 and its 200-day moving average price is $165.46. 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, Inc. has a 52 week low of $133.83 and a 52 week high of $233.10.

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

Broadridge Financial Solutions Announces Dividend

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

Insider Transactions at Broadridge Financial Solutions

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

About Broadridge Financial Solutions

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.