ABLE Financial Group LLC Boosts Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

ABLE Financial Group LLC grew its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,552 shares of the business services provider’s stock after purchasing an additional 216 shares during the period. ABLE Financial Group LLC’s holdings in Broadridge Financial Solutions were worth $764,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norden Group LLC purchased a new stake in shares of Broadridge Financial Solutions in the first quarter valued at approximately $286,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Broadridge Financial Solutions by 2.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,710 shares of the business services provider’s stock worth $4,038,000 after buying an additional 508 shares in the last quarter. Empirical Finance LLC increased its stake in shares of Broadridge Financial Solutions by 3.6% during the first quarter. Empirical Finance LLC now owns 4,130 shares of the business services provider’s stock valued at $846,000 after buying an additional 144 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Broadridge Financial Solutions by 39.7% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 28,144 shares of the business services provider’s stock valued at $5,766,000 after acquiring an additional 8,001 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Broadridge Financial Solutions in the first quarter worth about $641,000. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Stock Up 1.9 %

BR traded up $4.26 during trading on Friday, hitting $225.44. The stock had a trading volume of 51,602 shares, compared to its average volume of 518,469. The stock has a 50 day simple moving average of $214.04 and a two-hundred day simple moving average of $206.69. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08. Broadridge Financial Solutions, Inc. has a twelve month low of $175.21 and a twelve month high of $226.16. The company has a market capitalization of $26.35 billion, a PE ratio of 37.74 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the business posted $1.09 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. On average, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current year.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the sale, the president now owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the completion of the sale, the president now owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $209.31, for a total value of $5,232,750.00. Following the completion of the transaction, the chief executive officer now directly owns 206,349 shares in the company, valued at $43,190,909.19. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 133,713 shares of company stock valued at $27,967,456. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on BR. JPMorgan Chase & Co. boosted their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Morgan Stanley boosted their price objective on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Wednesday. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $217.83.

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.