Leeward Financial Partners LLC Buys Shares of 2,000 Broadridge Financial Solutions, Inc. $BR

Leeward Financial Partners LLC bought a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the 2nd quarter, Holdings Channel.com reports. The fund bought 2,000 shares of the business services provider’s stock, valued at approximately $486,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Creekmur Asset Management LLC increased its holdings in Broadridge Financial Solutions by 48.8% during the 2nd quarter. Creekmur Asset Management LLC now owns 4,230 shares of the business services provider’s stock valued at $1,028,000 after acquiring an additional 1,388 shares in the last quarter. AdvisorShares Investments LLC increased its holdings in Broadridge Financial Solutions by 2.4% during the 2nd quarter. AdvisorShares Investments LLC now owns 32,034 shares of the business services provider’s stock valued at $7,785,000 after acquiring an additional 754 shares in the last quarter. Amalgamated Bank increased its holdings in Broadridge Financial Solutions by 2.0% during the 2nd quarter. Amalgamated Bank now owns 26,578 shares of the business services provider’s stock valued at $6,459,000 after acquiring an additional 517 shares in the last quarter. Assetmark Inc. increased its holdings in Broadridge Financial Solutions by 123.0% during the 2nd quarter. Assetmark Inc. now owns 24,776 shares of the business services provider’s stock valued at $6,021,000 after acquiring an additional 13,668 shares in the last quarter. Finally, HBK Sorce Advisory LLC increased its holdings in Broadridge Financial Solutions by 2.5% during the 2nd quarter. HBK Sorce Advisory LLC now owns 13,300 shares of the business services provider’s stock valued at $3,232,000 after acquiring an additional 328 shares in the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on BR shares. Needham & Company LLC raised their target price on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. DA Davidson reiterated a “neutral” rating and set a $240.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday. Morgan Stanley lifted their price target on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Broadridge Financial Solutions in a report on Wednesday, October 8th. Finally, UBS Group lifted their price target on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a “neutral” rating in a report on Friday, August 8th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $265.67.

Broadridge Financial Solutions Price Performance

BR opened at $220.40 on Friday. The company’s 50 day simple moving average is $240.25 and its 200 day simple moving average is $242.21. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.98 and a current ratio of 0.98. Broadridge Financial Solutions, Inc. has a 1 year low of $208.20 and a 1 year high of $271.91. The stock has a market capitalization of $25.72 billion, a PE ratio of 31.09 and a beta of 0.95.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share (EPS) for the quarter. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. The business had revenue of $1.05 billion for the quarter. As a group, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Thursday, September 11th were given a $0.975 dividend. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. This represents a $3.90 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Thursday, September 11th. Broadridge Financial Solutions’s dividend payout ratio is 55.01%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, President Christopher John Perry sold 7,036 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the transaction, the president directly owned 48,813 shares of the company’s stock, valued at $12,824,151.36. The trade was a 12.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy C. Gokey sold 84,571 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $259.53, for a total transaction of $21,948,711.63. Following the transaction, the chief executive officer directly owned 165,634 shares in the company, valued at approximately $42,986,992.02. This trade represents a 33.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 147,532 shares of company stock worth $38,417,208. 1.10% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Company 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.