Allworth Financial LP Purchases 31,079 Shares of Broadridge Financial Solutions, Inc. $BR

Allworth Financial LP grew its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2,191.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,497 shares of the business services provider’s stock after acquiring an additional 31,079 shares during the period. Allworth Financial LP’s holdings in Broadridge Financial Solutions were worth $7,898,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Clarus Group Inc. grew its holdings in Broadridge Financial Solutions by 1.5% during the second quarter. Clarus Group Inc. now owns 2,951 shares of the business services provider’s stock worth $717,000 after purchasing an additional 44 shares during the period. Harbour Investments Inc. lifted its position in shares of Broadridge Financial Solutions by 10.1% in the second quarter. Harbour Investments Inc. now owns 489 shares of the business services provider’s stock valued at $119,000 after buying an additional 45 shares during the last quarter. Norden Group LLC boosted its stake in shares of Broadridge Financial Solutions by 2.6% during the 1st quarter. Norden Group LLC now owns 1,852 shares of the business services provider’s stock worth $449,000 after acquiring an additional 47 shares during the period. Cresset Asset Management LLC increased its holdings in shares of Broadridge Financial Solutions by 1.8% during the 1st quarter. Cresset Asset Management LLC now owns 2,820 shares of the business services provider’s stock worth $686,000 after acquiring an additional 49 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Broadridge Financial Solutions by 7.0% during the 1st quarter. Smartleaf Asset Management LLC now owns 747 shares of the business services provider’s stock worth $177,000 after acquiring an additional 49 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Timothy C. Gokey sold 5,674 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $258.37, for a total transaction of $1,465,991.38. Following the sale, the chief executive officer directly owned 143,285 shares of the company’s stock, valued at approximately $37,020,545.45. This represents a 3.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 101,245 shares of company stock worth $26,266,893. Corporate insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR opened at $222.53 on Wednesday. Broadridge Financial Solutions, Inc. has a 12-month low of $212.33 and a 12-month high of $271.91. The company’s 50 day moving average price is $235.35 and its two-hundred day moving average price is $241.60. The firm has a market cap of $25.98 billion, a PE ratio of 28.49 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 issued its quarterly earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share (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 during the quarter. Equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BR shares. Wall Street Zen raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings restated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Wednesday, November 5th. Morgan Stanley reduced their target price 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. Needham & Company LLC upped their price target on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Finally, UBS Group raised their price objective on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $264.83.

Broadridge Financial Solutions 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.