Horizon Kinetics Asset Management LLC Invests $483,000 in Broadridge Financial Solutions, Inc. (NYSE:BR)

Horizon Kinetics Asset Management LLC acquired a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 2,248 shares of the business services provider’s stock, valued at approximately $483,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bahl & Gaynor Inc. raised its stake in shares of Broadridge Financial Solutions by 0.6% during the second quarter. Bahl & Gaynor Inc. now owns 1,108,867 shares of the business services provider’s stock valued at $218,447,000 after acquiring an additional 6,634 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Broadridge Financial Solutions by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock valued at $185,417,000 after purchasing an additional 72,018 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its position in Broadridge Financial Solutions by 3.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 800,716 shares of the business services provider’s stock worth $157,741,000 after purchasing an additional 28,614 shares during the last quarter. abrdn plc raised its position in Broadridge Financial Solutions by 5.5% during the 3rd quarter. abrdn plc now owns 536,083 shares of the business services provider’s stock worth $114,451,000 after purchasing an additional 27,869 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in Broadridge Financial Solutions by 1.3% during the 2nd quarter. Raymond James & Associates now owns 404,049 shares of the business services provider’s stock worth $79,598,000 after buying an additional 5,256 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BR shares. UBS Group assumed coverage on shares of Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a “neutral” rating and a $250.00 target price for the company. JPMorgan Chase & Co. upped their price objective on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Morgan Stanley lifted their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Broadridge Financial Solutions presently has an average rating of “Hold” and a consensus price target of $222.43.

Broadridge Financial Solutions Price Performance

Shares of BR opened at $233.28 on Tuesday. The business’s fifty day moving average is $217.92 and its 200 day moving average is $209.55. Broadridge Financial Solutions, Inc. has a 12-month low of $185.41 and a 12-month high of $234.45. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. The stock has a market cap of $27.27 billion, a P/E ratio of 40.36 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the firm earned $1.09 earnings per share. Sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.51%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 60.90%.

Insiders Place Their Bets

In related news, Director Maura A. Markus sold 3,880 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $227.02, for a total transaction of $880,837.60. Following the transaction, the director now directly owns 27,788 shares in the company, valued at approximately $6,308,431.76. The trade was a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas P. Carey sold 10,757 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $226.82, for a total value of $2,439,902.74. Following the completion of the transaction, the vice president now owns 12,689 shares in the company, valued at $2,878,118.98. The trade was a 45.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,294 shares of company stock valued at $16,944,095. Corporate insiders own 1.30% 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.