Barnes Pettey Financial Advisors LLC Invests $215,000 in Broadridge Financial Solutions, Inc. (NYSE:BR)

Barnes Pettey Financial Advisors LLC purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,000 shares of the business services provider’s stock, valued at approximately $215,000.

Other large investors have also recently bought and sold shares of the company. Bogart Wealth LLC lifted its holdings in shares of Broadridge Financial Solutions by 384.0% in the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after buying an additional 96 shares during the period. EdgeRock Capital LLC acquired a new stake in Broadridge Financial Solutions in the second quarter valued at $32,000. Rothschild Investment LLC purchased a new stake in shares of Broadridge Financial Solutions during the 2nd quarter worth $32,000. New Covenant Trust Company N.A. acquired a new position in shares of Broadridge Financial Solutions during the 1st quarter worth $34,000. Finally, Family Firm Inc. purchased a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at about $37,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BR. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, Royal Bank of Canada increased their price objective on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $213.33.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $214.03 on Friday. The firm’s fifty day simple moving average is $213.32 and its 200 day simple moving average is $205.64. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a twelve month low of $166.73 and a twelve month high of $224.32. The firm has a market capitalization of $25.29 billion, a price-to-earnings ratio of 36.52 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.01. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.21 earnings per share. As a group, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a dividend of $0.88 per share. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Thursday, September 12th. Broadridge Financial Solutions’s payout ratio is presently 60.07%.

Insider Activity

In related news, President Christopher John Perry sold 31,539 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the sale, the president now owns 67,215 shares of the company’s stock, valued at $13,938,374.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the completion of the sale, the president now owns 67,215 shares in the company, valued at $13,938,374.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Laura Matlin sold 673 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total value of $145,368.00. Following the sale, the vice president now owns 5,530 shares in the company, valued at $1,194,480. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 134,386 shares of company stock worth $28,112,824. 1.60% of the stock is currently owned by company 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.