Neo Ivy Capital Management Makes New $1.45 Million Investment in Broadridge Financial Solutions, Inc. (NYSE:BR)

Neo Ivy Capital Management bought a new position in Broadridge Financial Solutions, Inc. (NYSE:BR) in the third quarter, HoldingsChannel reports. The fund bought 6,744 shares of the business services provider’s stock, valued at approximately $1,450,000.

A number of other hedge funds have also bought and sold shares of the business. State Street Corp raised its position in Broadridge Financial Solutions by 1.0% in the 3rd quarter. State Street Corp now owns 5,181,715 shares of the business services provider’s stock worth $1,118,644,000 after buying an additional 51,439 shares during the last quarter. Geode Capital Management LLC raised its position in Broadridge Financial Solutions by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider’s stock worth $643,018,000 after buying an additional 15,208 shares during the last quarter. Stifel Financial Corp raised its position in Broadridge Financial Solutions by 0.4% in the 3rd quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider’s stock worth $342,856,000 after buying an additional 5,813 shares during the last quarter. Bahl & Gaynor Inc. increased its position in shares of Broadridge Financial Solutions by 0.6% during the 2nd quarter. Bahl & Gaynor Inc. now owns 1,108,867 shares of the business services provider’s stock valued at $218,447,000 after purchasing an additional 6,634 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Broadridge Financial Solutions by 8.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock valued at $185,417,000 after purchasing an additional 72,018 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Trading Up 1.0 %

Shares of NYSE:BR opened at $235.90 on Wednesday. The stock has a 50 day moving average of $223.21 and a 200 day moving average of $212.19. The company has a market cap of $27.57 billion, a PE ratio of 40.81 and a beta of 1.07. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $237.96.

Broadridge Financial Solutions (NYSE:BR) last announced 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. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the company posted $1.09 EPS. The firm’s revenue was down .6% on a year-over-year basis. As a group, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders 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 payout ratio is 60.90%.

Wall Street Analyst Weigh In

BR has been the subject of several research reports. Morgan Stanley upped their price target on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. UBS Group initiated coverage on shares of Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a “neutral” rating and a $250.00 price target for the company. DA Davidson upped their price target on shares of Broadridge Financial Solutions from $210.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday. JPMorgan Chase & Co. upped their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Five investment 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, the stock currently has a consensus rating of “Hold” and a consensus target price of $226.71.

Insiders Place Their Bets

In other news, Director Maura A. Markus sold 3,880 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was 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 approximately $6,308,431.76. This represents a 12.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas P. Carey sold 15,710 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total value of $3,618,327.20. Following the transaction, the vice president now owns 12,146 shares of the company’s stock, valued at $2,797,466.72. This represents a 56.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,532 shares of company stock worth $12,264,846 in the last three months. 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.