Broadridge Financial Solutions, Inc. $BR Shares Newly Acquired by McKinney Capital Management LLC

McKinney Capital Management LLC purchased a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 9,784 shares of the business services provider’s stock, valued at approximately $1,576,000. Broadridge Financial Solutions accounts for about 0.6% of McKinney Capital Management LLC’s portfolio, making the stock its 27th biggest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kintegral Advisory LLC lifted its stake in Broadridge Financial Solutions by 0.6% in the third quarter. Kintegral Advisory LLC now owns 10,764 shares of the business services provider’s stock worth $1,746,000 after purchasing an additional 60 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Broadridge Financial Solutions by 3.6% during the third quarter. Parallel Advisors LLC now owns 1,769 shares of the business services provider’s stock valued at $285,000 after buying an additional 61 shares during the last quarter. Diversified Trust Co grew its stake in shares of Broadridge Financial Solutions by 3.8% during the third quarter. Diversified Trust Co now owns 1,793 shares of the business services provider’s stock valued at $289,000 after buying an additional 66 shares during the last quarter. North Dakota State Investment Board raised its holdings in shares of Broadridge Financial Solutions by 1.9% in the third quarter. North Dakota State Investment Board now owns 3,532 shares of the business services provider’s stock worth $569,000 after buying an additional 67 shares during the period. Finally, Abel Hall LLC raised its holdings in shares of Broadridge Financial Solutions by 2.4% in the third quarter. Abel Hall LLC now owns 2,935 shares of the business services provider’s stock worth $473,000 after buying an additional 68 shares during the period. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Maura A. Markus sold 3,180 shares of the firm’s stock in a transaction on Thursday, November 12th. The stock was sold at an average price of $191.89, for a total value of $610,210.20. Following the completion of the sale, the director owned 33,769 shares of the company’s stock, valued at $6,479,933.41. This trade represents a 8.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Thomas P. Carey sold 2,501 shares of the company’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $159.76, for a total value of $399,559.76. Following the transaction, the vice president directly owned 8,800 shares in the company, 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.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BR shares. Weiss Ratings raised Broadridge Financial Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Royal Bank Of Canada increased their target price on Broadridge Financial Solutions from $225.00 to $226.00 and gave the stock an “outperform” rating in a research note on Monday, August 31st. UBS Group reiterated a “neutral” rating and issued a $180.00 target price on shares of Broadridge Financial Solutions in a research note on Monday, August 17th. JPMorgan Chase & Co. lifted their target price on Broadridge Financial Solutions from $191.00 to $201.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 4th. Finally, DA Davidson reissued a “buy” rating and set a $214.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, October 27th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $212.71.

Broadridge Financial Solutions Stock Up 0.4%

BR stock traded up $0.80 during trading on Friday, hitting $192.27. 725,997 shares of the company’s stock traded hands, compared to its average volume of 1,091,831. The firm has a market capitalization of $21.75 billion, a P/E ratio of 21.25 and a beta of 0.90. Broadridge Financial Solutions, Inc. has a 1 year low of $133.83 and a 1 year high of $233.10. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.28. The business has a fifty day simple moving average of $173.29 and a two-hundred day simple moving average of $165.46.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, November 3rd. The business services provider reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.19. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Broadridge Financial Solutions had a return on equity of 40.32% and a net margin of 13.94%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.51 EPS. Sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 10.58 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

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

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.