Creative Planning Buys 398 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

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Creative Planning lifted its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,605 shares of the business services provider’s stock after acquiring an additional 398 shares during the period. Creative Planning’s holdings in Broadridge Financial Solutions were worth $1,568,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Broadridge Financial Solutions by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 14,484,063 shares of the business services provider’s stock valued at $1,849,324,000 after acquiring an additional 134,732 shares in the last quarter. Morgan Stanley grew its holdings in Broadridge Financial Solutions by 945.4% in the 2nd quarter. Morgan Stanley now owns 3,337,325 shares of the business services provider’s stock valued at $426,109,000 after buying an additional 3,018,094 shares during the last quarter. Baillie Gifford & Co. acquired a new stake in Broadridge Financial Solutions in the 2nd quarter valued at approximately $243,622,000. Nuveen Asset Management LLC grew its holdings in Broadridge Financial Solutions by 909.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,190,667 shares of the business services provider’s stock valued at $152,024,000 after buying an additional 1,072,664 shares during the last quarter. Finally, Jensen Investment Management Inc. grew its holdings in Broadridge Financial Solutions by 39.0% in the 2nd quarter. Jensen Investment Management Inc. now owns 1,171,813 shares of the business services provider’s stock valued at $149,617,000 after buying an additional 328,656 shares during the last quarter. 88.23% of the stock is currently owned by institutional investors and hedge funds.

In other news, VP Thomas P. Carey sold 2,258 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $128.69, for a total transaction of $290,582.02. Following the sale, the vice president now owns 1,990 shares of the company’s stock, valued at approximately $256,093.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider C Elisa D. Garcia sold 5,089 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $15.48, for a total value of $78,777.72. Insiders have sold a total of 317,133 shares of company stock worth $39,829,477 in the last three months. 2.20% of the stock is owned by insiders.

A number of analysts have issued reports on BR shares. ValuEngine lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. SunTrust Banks raised their target price on Broadridge Financial Solutions from $130.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, Raymond James lowered Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Broadridge Financial Solutions has an average rating of “Hold” and an average target price of $129.20.

BR opened at $119.58 on Friday. The firm has a market capitalization of $14.12 billion, a P/E ratio of 25.66 and a beta of 0.69. The stock’s 50 day moving average price is $123.80 and its two-hundred day moving average price is $126.01. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.30. Broadridge Financial Solutions, Inc. has a 12-month low of $91.34 and a 12-month high of $136.99.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.04). Broadridge Financial Solutions had a return on equity of 46.61% and a net margin of 11.05%. The firm had revenue of $949.00 million for the quarter, compared to analyst estimates of $979.61 million. During the same period in the previous year, the business posted $0.79 EPS. Broadridge Financial Solutions’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, analysts anticipate that Broadridge Financial Solutions, Inc. will post 5.12 earnings per share for the current year.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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