DRW Securities LLC Buys New Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

DRW Securities LLC purchased a new position in Broadridge Financial Solutions, Inc. (NYSE:BR) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,122 shares of the business services provider’s stock, valued at approximately $241,000.

Several other hedge funds have also bought and sold shares of the stock. Lazard Asset Management LLC raised its holdings in shares of Broadridge Financial Solutions by 157.0% during the 1st quarter. Lazard Asset Management LLC now owns 275 shares of the business services provider’s stock worth $56,000 after acquiring an additional 168 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its position in Broadridge Financial Solutions by 44.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,777 shares of the business services provider’s stock worth $979,000 after purchasing an additional 1,469 shares during the last quarter. California State Teachers Retirement System raised its stake in Broadridge Financial Solutions by 1.4% during the first quarter. California State Teachers Retirement System now owns 196,655 shares of the business services provider’s stock valued at $40,287,000 after purchasing an additional 2,698 shares in the last quarter. Tidal Investments LLC lifted its position in Broadridge Financial Solutions by 99.6% during the first quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider’s stock valued at $3,627,000 after purchasing an additional 8,837 shares during the last quarter. Finally, Comerica Bank grew its stake in shares of Broadridge Financial Solutions by 5.0% in the 1st quarter. Comerica Bank now owns 45,797 shares of the business services provider’s stock worth $9,382,000 after buying an additional 2,182 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock opened at $235.80 on Thursday. 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 stock’s fifty day moving average is $218.43 and its two-hundred day moving average is $209.84. 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 capitalization of $27.56 billion, a PE ratio of 40.80 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the business posted $1.09 earnings per share. As a group, analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

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

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 10,757 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the transaction, the vice president now directly owns 12,689 shares in the company, valued at $2,878,118.98. This represents a 45.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard J. Daly sold 21,938 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the transaction, the chairman now directly owns 105,094 shares in the company, valued at $21,823,820.04. This trade represents a 17.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,294 shares of company stock worth $16,944,095 in the last ninety days. 1.30% of the stock is owned by company insiders.

Broadridge Financial Solutions 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.