Brogan Financial Inc. Acquires 648 Shares of Broadridge Financial Solutions, Inc. $BR

Brogan Financial Inc. boosted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 68.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,600 shares of the business services provider’s stock after buying an additional 648 shares during the quarter. Brogan Financial Inc.’s holdings in Broadridge Financial Solutions were worth $389,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Jones Financial Companies Lllp grew its position in shares of Broadridge Financial Solutions by 28,222.6% during the 1st quarter. Jones Financial Companies Lllp now owns 949,657 shares of the business services provider’s stock valued at $230,254,000 after acquiring an additional 946,304 shares during the period. Ameriprise Financial Inc. lifted its stake in Broadridge Financial Solutions by 577.9% in the first quarter. Ameriprise Financial Inc. now owns 1,035,938 shares of the business services provider’s stock valued at $251,513,000 after purchasing an additional 883,125 shares during the last quarter. Vanguard Group Inc. grew its holdings in Broadridge Financial Solutions by 3.1% during the first quarter. Vanguard Group Inc. now owns 14,733,147 shares of the business services provider’s stock valued at $3,572,199,000 after purchasing an additional 438,381 shares during the period. Nuveen LLC purchased a new stake in Broadridge Financial Solutions in the first quarter worth $91,445,000. Finally, McElhenny Sheffield Capital Management LLC bought a new stake in shares of Broadridge Financial Solutions in the second quarter valued at $53,467,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BR shares. Morgan Stanley cut their price target on Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. UBS Group upped their price objective 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 lifted their target price on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Broadridge Financial Solutions in a research report on Tuesday. Finally, Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $264.83.

Broadridge Financial Solutions Price Performance

BR stock opened at $223.42 on Thursday. The firm has a 50 day moving average of $234.82 and a 200-day moving average of $241.47. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.06. 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 $26.08 billion, a P/E ratio of 28.61 and a beta of 0.96.

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

Insider Buying and Selling at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 11,000 shares of the company’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $259.29, for a total value of $2,852,190.00. Following the transaction, the chief executive officer owned 154,634 shares of the company’s stock, valued at approximately $40,095,049.86. This represents a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

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.