Townsquare Capital LLC Acquires 1,125 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Townsquare Capital LLC grew its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,846 shares of the business services provider’s stock after acquiring an additional 1,125 shares during the quarter. Townsquare Capital LLC’s holdings in Broadridge Financial Solutions were worth $5,343,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Broadridge Financial Solutions in the third quarter worth $44,746,000. Assenagon Asset Management S.A. boosted its holdings in shares of Broadridge Financial Solutions by 3,197.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider’s stock worth $43,945,000 after purchasing an additional 198,169 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Broadridge Financial Solutions during the 3rd quarter valued at about $274,650,000. BNP Paribas Financial Markets raised its holdings in shares of Broadridge Financial Solutions by 97.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 198,878 shares of the business services provider’s stock valued at $42,765,000 after buying an additional 98,275 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Broadridge Financial Solutions by 8.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock worth $185,417,000 after buying an additional 72,018 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insiders Place Their Bets

In other news, President Christopher John Perry sold 17,534 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total value of $3,741,930.94. Following the completion of the transaction, the president now owns 50,237 shares in the company, valued at $10,721,078.17. This trade represents a 25.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Richard J. Daly sold 21,938 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $207.66, for a total value of $4,555,645.08. Following the completion of the sale, the chairman now directly owns 105,094 shares in the company, valued at approximately $21,823,820.04. The trade was a 17.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,294 shares of company stock worth $16,944,095. 1.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report 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 report on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Finally, UBS Group initiated coverage on Broadridge Financial Solutions in a report on Thursday, November 21st. They set a “neutral” rating and a $250.00 target price for the company. Five investment 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.com, the stock currently has a consensus rating of “Hold” and an average price target of $222.43.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock opened at $235.80 on Friday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. The firm has a market cap of $27.56 billion, a P/E ratio of 40.80 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 1-year low of $186.19 and a 1-year high of $237.74. The firm has a 50-day moving average of $218.97 and a 200-day moving average of $210.02.

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, topping the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the business posted $1.09 EPS. The business’s revenue was down .6% on a year-over-year basis. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions’s payout ratio is currently 60.90%.

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.