Los Angeles Capital Management LLC Raises Stock Holdings in Broadridge Financial Solutions, Inc. $BR

Los Angeles Capital Management LLC boosted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 42.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 31,524 shares of the business services provider’s stock after buying an additional 9,376 shares during the period. Los Angeles Capital Management LLC’s holdings in Broadridge Financial Solutions were worth $7,661,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. D.A. Davidson & CO. acquired a new stake in Broadridge Financial Solutions during the 1st quarter valued at $217,000. Nordea Investment Management AB lifted its holdings in Broadridge Financial Solutions by 40.8% during the 2nd quarter. Nordea Investment Management AB now owns 220,314 shares of the business services provider’s stock worth $52,900,000 after buying an additional 63,798 shares during the last quarter. Triangle Securities Wealth Management acquired a new position in Broadridge Financial Solutions in the second quarter worth $784,000. Abacus FCF Advisors LLC acquired a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at about $12,865,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Broadridge Financial Solutions by 14.4% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 15,523 shares of the business services provider’s stock valued at $3,772,000 after purchasing an additional 1,952 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $221.83 on Monday. The firm has a 50-day moving average price of $236.59 and a 200 day moving average price of $241.81. Broadridge Financial Solutions, Inc. has a 12-month low of $212.33 and a 12-month high of $271.91. The firm has a market capitalization of $25.89 billion, a PE ratio of 28.40 and a beta of 0.96. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.06.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. Broadridge Financial Solutions had a return on equity of 43.28% and a net margin of 13.11%.The business had revenue of $1.05 billion for the quarter. Research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BR has been the topic of a number of recent analyst reports. DA Davidson reaffirmed a “neutral” rating and set a $240.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, October 28th. UBS Group upped their price target on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a “neutral” rating in a report on Friday, August 8th. Needham & Company LLC boosted their target price on Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Morgan Stanley decreased their price target on shares of Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Broadridge Financial Solutions presently has an average rating of “Hold” and an average target price of $264.83.

Insider Transactions at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 7,036 shares of the business’s 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 completion of the transaction, the president owned 48,813 shares in the company, valued at approximately $12,824,151.36. The trade was a 12.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy C. Gokey sold 84,571 shares of the firm’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $259.53, for a total value of $21,948,711.63. Following the sale, the chief executive officer directly owned 165,634 shares in the company, valued at approximately $42,986,992.02. This represents a 33.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 147,532 shares of company stock worth $38,417,208. Company insiders own 1.10% of the company’s stock.

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.