Broadridge Financial Solutions, Inc. $BR Shares Bought by Northstar Asset Management Inc.

Northstar Asset Management Inc. lifted its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 43.2% in the second quarter, HoldingsChannel reports. The fund owned 27,288 shares of the business services provider’s stock after purchasing an additional 8,227 shares during the quarter. Broadridge Financial Solutions makes up 1.8% of Northstar Asset Management Inc.’s holdings, making the stock its 22nd largest holding. Northstar Asset Management Inc.’s holdings in Broadridge Financial Solutions were worth $6,632,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Keeler Thomas Management LLC bought a new stake in shares of Broadridge Financial Solutions in the 2nd quarter worth approximately $1,219,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Broadridge Financial Solutions by 4.2% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 271,841 shares of the business services provider’s stock worth $66,066,000 after purchasing an additional 10,992 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Broadridge Financial Solutions by 85.1% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 124 shares of the business services provider’s stock worth $30,000 after purchasing an additional 57 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Broadridge Financial Solutions by 2.8% in the 2nd quarter. Asset Management One Co. Ltd. now owns 55,026 shares of the business services provider’s stock worth $13,373,000 after purchasing an additional 1,498 shares in the last quarter. Finally, Prosperity Financial Group Inc. bought a new stake in shares of Broadridge Financial Solutions in the 2nd quarter worth approximately $280,000. 90.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BR. Morgan Stanley lifted their target price on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Wall Street Zen downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reissued a “buy (b)” rating on shares of Broadridge Financial Solutions in a research report on Wednesday, October 8th. Needham & Company LLC lifted their target price on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Finally, UBS Group lifted their target price on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $261.50.

Insider Buying and Selling

In other Broadridge Financial Solutions news, President Christopher John Perry sold 7,036 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total value of $1,848,497.92. Following the completion of the sale, the president directly owned 48,813 shares in the company, valued at $12,824,151.36. The trade was a 12.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy C. Gokey sold 5,674 shares of the business’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $258.37, for a total transaction of $1,465,991.38. Following the completion of the sale, the chief executive officer owned 143,285 shares of the company’s stock, valued at $37,020,545.45. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,532 shares of company stock valued at $38,417,208 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Price Performance

NYSE BR opened at $232.36 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $27.12 billion, a PE ratio of 32.77 and a beta of 0.95. The company has a 50 day moving average price of $243.96 and a two-hundred day moving average price of $242.29. Broadridge Financial Solutions, Inc. has a 12-month low of $208.20 and a 12-month high of $271.91.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share (EPS) for the quarter. The firm had revenue of $1.05 billion during the quarter. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. As a group, equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th were paid a $0.975 dividend. This represents a $3.90 dividend on an annualized basis and a yield of 1.7%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. The ex-dividend date was Thursday, September 11th. Broadridge Financial Solutions’s dividend payout ratio is presently 55.01%.

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.