Bahl & Gaynor Inc. Increases Holdings in Broadridge Financial Solutions, Inc. $BR

Bahl & Gaynor Inc. lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,190,777 shares of the business services provider’s stock after buying an additional 22,426 shares during the quarter. Broadridge Financial Solutions makes up 1.5% of Bahl & Gaynor Inc.’s holdings, making the stock its 20th largest holding. Bahl & Gaynor Inc. owned about 1.02% of Broadridge Financial Solutions worth $289,395,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BR. Clarus Group Inc. boosted its position in Broadridge Financial Solutions by 1.5% during the 2nd quarter. Clarus Group Inc. now owns 2,951 shares of the business services provider’s stock valued at $717,000 after acquiring an additional 44 shares in the last quarter. Harbour Investments Inc. boosted its position in 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 holdings in shares of Broadridge Financial Solutions by 2.6% in the 1st quarter. Norden Group LLC now owns 1,852 shares of the business services provider’s stock valued at $449,000 after acquiring an additional 47 shares during the last quarter. Cresset Asset Management LLC boosted its holdings in Broadridge Financial Solutions by 1.8% in the first quarter. Cresset Asset Management LLC now owns 2,820 shares of the business services provider’s stock valued at $686,000 after purchasing an additional 49 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Broadridge Financial Solutions by 7.0% during the first 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 period. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Trading Up 0.5%

BR opened at $228.34 on Friday. The business has a fifty day moving average price of $231.17 and a 200 day moving average price of $240.98. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.93 and a quick ratio of 0.93. Broadridge Financial Solutions, Inc. has a 12 month low of $212.33 and a 12 month high of $271.91. The stock has a market capitalization of $26.65 billion, a price-to-earnings ratio of 29.24 and a beta of 0.96.

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. The company had revenue of $1.05 billion during the quarter. Broadridge Financial Solutions had a net margin of 13.11% and a return on equity of 43.28%. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Friday, December 12th will be given a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, December 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 49.94%.

Analyst Upgrades and Downgrades

Several analysts recently commented on BR shares. DA Davidson restated a “neutral” rating and set a $240.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, October 28th. Needham & Company LLC increased their price objective on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Morgan Stanley cut their price objective 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. UBS Group reduced their price target on Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday, November 13th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Broadridge Financial Solutions in a report on Monday. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $259.83.

Insider Buying and Selling

In other news, President Christopher John Perry sold 3,984 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $226.00, for a total value of $900,384.00. Following the completion of the sale, the president directly owned 44,829 shares of the company’s stock, valued at approximately $10,131,354. The trade was a 8.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy C. Gokey sold 5,674 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $258.37, for a total value of $1,465,991.38. Following the completion of the sale, the chief executive officer directly owned 143,285 shares of the company’s stock, valued at $37,020,545.45. The trade was a 3.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by company insiders.

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.