Meeder Asset Management Inc. Has $8.94 Million Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Meeder Asset Management Inc. raised its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 41,583 shares of the business services provider’s stock after acquiring an additional 176 shares during the quarter. Meeder Asset Management Inc.’s holdings in Broadridge Financial Solutions were worth $8,942,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Caprock Group LLC increased its stake in Broadridge Financial Solutions by 12.0% in the 3rd quarter. Caprock Group LLC now owns 4,113 shares of the business services provider’s stock valued at $888,000 after buying an additional 440 shares during the last quarter. Pathstone Holdings LLC increased its stake in shares of Broadridge Financial Solutions by 0.4% during the 3rd quarter. Pathstone Holdings LLC now owns 20,791 shares of the business services provider’s stock worth $4,473,000 after purchasing an additional 87 shares during the last quarter. Strengthening Families & Communities LLC increased its stake in shares of Broadridge Financial Solutions by 6.6% during the 3rd quarter. Strengthening Families & Communities LLC now owns 12,541 shares of the business services provider’s stock worth $2,697,000 after purchasing an additional 779 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Broadridge Financial Solutions during the 3rd quarter worth about $2,251,000. Finally, MAI Capital Management increased its stake in shares of Broadridge Financial Solutions by 8.7% during the 3rd quarter. MAI Capital Management now owns 11,886 shares of the business services provider’s stock worth $2,556,000 after purchasing an additional 948 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BR has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note 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, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Finally, StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadridge Financial Solutions has a consensus rating of “Hold” and an average target price of $217.83.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, Director Maura A. Markus sold 3,880 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 27,788 shares in the company, valued at $6,308,431.76. This represents a 12.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy C. Gokey sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $209.31, for a total transaction of $5,232,750.00. Following the transaction, the chief executive officer now owns 206,349 shares of the company’s stock, valued at approximately $43,190,909.19. This represents a 10.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 115,534 shares of company stock valued at $24,748,962 in the last quarter. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $227.08 on Tuesday. 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 company has a market capitalization of $26.54 billion, a P/E ratio of 39.29 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 12-month low of $182.57 and a 12-month high of $230.00. The firm has a 50-day moving average price of $216.28 and a two-hundred day moving average price of $208.45.

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

Broadridge Financial Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 60.90%.

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.