Longboard Asset Management LP Invests $231,000 in Broadridge Financial Solutions, Inc. (NYSE:BR)

Longboard Asset Management LP bought a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,022 shares of the business services provider’s stock, valued at approximately $231,000.

Several other large investors have also recently bought and sold shares of the stock. Trust Point Inc. bought a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth approximately $420,000. Princeton Global Asset Management LLC lifted its position in Broadridge Financial Solutions by 1.4% in the fourth quarter. Princeton Global Asset Management LLC now owns 17,710 shares of the business services provider’s stock worth $4,004,000 after purchasing an additional 238 shares during the period. McAdam LLC bought a new position in Broadridge Financial Solutions in the fourth quarter worth $215,000. U.S. Capital Wealth Advisors LLC acquired a new stake in Broadridge Financial Solutions during the fourth quarter worth $305,000. Finally, DAVENPORT & Co LLC increased its holdings in Broadridge Financial Solutions by 6.5% in the 4th quarter. DAVENPORT & Co LLC now owns 1,475 shares of the business services provider’s stock valued at $333,000 after buying an additional 90 shares during the period. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Maura A. Markus sold 3,880 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the sale, the director now owns 27,788 shares in the company, valued at approximately $6,308,431.76. This represents a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas P. Carey sold 10,757 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $226.82, for a total value of $2,439,902.74. Following the completion of the sale, the vice president now directly owns 12,689 shares of the company’s stock, valued at approximately $2,878,118.98. The trade was a 45.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,532 shares of company stock worth $12,264,846 in the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of BR stock opened at $238.72 on Tuesday. The company has a quick ratio of 1.39, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $241.45. The firm has a market cap of $27.90 billion, a price-to-earnings ratio of 37.36 and a beta of 1.08. The stock has a 50-day moving average price of $231.37 and a 200 day moving average price of $220.56.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same quarter in the previous year, the firm earned $0.92 earnings per share. Research analysts expect that Broadridge Financial Solutions, Inc. will post 8.55 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 13th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 55.09%.

Analyst Ratings Changes

Several brokerages have recently weighed in on BR. Royal Bank of Canada lifted their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research report on Monday. UBS Group upped their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday. JPMorgan Chase & Co. increased their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a report on Monday. DA Davidson reaffirmed a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Finally, StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $239.17.

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.