Townsquare Capital LLC Buys 1,125 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Townsquare Capital LLC boosted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.7% in the third quarter, Holdings Channel reports. The institutional investor owned 24,846 shares of the business services provider’s stock after purchasing an additional 1,125 shares during the period. Townsquare Capital LLC’s holdings in Broadridge Financial Solutions were worth $5,343,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Broadridge Financial Solutions during the third quarter valued at $44,746,000. Assenagon Asset Management S.A. raised its holdings in Broadridge Financial Solutions by 3,197.8% in the third quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider’s stock worth $43,945,000 after buying an additional 198,169 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Broadridge Financial Solutions in the third quarter worth approximately $274,650,000. BNP Paribas Financial Markets lifted its stake in shares of Broadridge Financial Solutions by 97.7% in the third quarter. BNP Paribas Financial Markets now owns 198,878 shares of the business services provider’s stock worth $42,765,000 after buying an additional 98,275 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Broadridge Financial Solutions by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock valued at $185,417,000 after buying an additional 72,018 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Trading Down 0.3 %

Broadridge Financial Solutions stock opened at $235.80 on Friday. Broadridge Financial Solutions, Inc. has a 52-week low of $186.19 and a 52-week high of $237.74. The company has a market cap of $27.56 billion, a P/E ratio of 40.80 and a beta of 1.05. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. The business has a 50-day simple moving average of $218.97 and a two-hundred day simple moving average of $210.02.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the business posted $1.09 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. Analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a $0.88 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.49%. Broadridge Financial Solutions’s dividend payout ratio is currently 60.90%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BR shares. Morgan Stanley upped their price objective on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. UBS Group assumed coverage on Broadridge Financial Solutions in a report on Thursday, November 21st. They set a “neutral” rating and a $250.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $222.43.

Insider Activity at Broadridge Financial Solutions

In other news, Chairman Richard J. Daly sold 21,938 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $207.66, for a total value of $4,555,645.08. Following the completion of the sale, the chairman now directly owns 105,094 shares of the company’s stock, valued at $21,823,820.04. This represents a 17.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Maura A. Markus sold 3,880 shares of Broadridge Financial Solutions stock in a transaction on Monday, November 11th. The shares were sold at an average price of $227.02, for a total transaction of $880,837.60. Following the transaction, the director now owns 27,788 shares in the company, valued at approximately $6,308,431.76. This trade represents a 12.25 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,294 shares of company stock worth $16,944,095. Corporate insiders own 1.30% of the company’s stock.

About Broadridge Financial Solutions

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.