Second Line Capital LLC Has $3 Million Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Second Line Capital LLC raised its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 13,227 shares of the business services provider’s stock after purchasing an additional 554 shares during the period. Broadridge Financial Solutions accounts for about 0.8% of Second Line Capital LLC’s holdings, making the stock its 28th biggest position. Second Line Capital LLC’s holdings in Broadridge Financial Solutions were worth $3,002,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Minot DeBlois Advisors LLC acquired a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at $34,000. Gen Wealth Partners Inc acquired a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at $36,000. Global X Japan Co. Ltd. acquired a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at $41,000. Curio Wealth LLC acquired a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at $45,000. Finally, Promus Capital LLC acquired a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at $52,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. UBS Group lifted their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Needham & Company LLC started coverage on shares of Broadridge Financial Solutions in a report on Tuesday, May 6th. They issued a “buy” rating and a $300.00 target price on the stock. Finally, DA Davidson reiterated a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $250.83.

Insider Activity at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 22,357 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $235.23, for a total value of $5,259,037.11. Following the sale, the president now owns 52,524 shares of the company’s stock, valued at $12,355,220.52. The trade was a 29.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Thomas P. Carey sold 3,607 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total transaction of $855,796.82. Following the completion of the transaction, the vice president now owns 6,077 shares in the company, valued at approximately $1,441,829.02. This trade represents a 37.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 123,473 shares of company stock valued at $29,072,366 over the last quarter. 1.30% of the stock is owned by company insiders.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $241.32 on Friday. The firm’s 50-day moving average is $234.22 and its 200-day moving average is $232.61. Broadridge Financial Solutions, Inc. has a 52-week low of $192.68 and a 52-week high of $247.01. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. The company has a market cap of $28.35 billion, a price-to-earnings ratio of 37.76 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.03. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the firm posted $2.23 EPS. The business’s revenue was up 5.0% compared to the same quarter last year. Equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be paid a $0.88 dividend. The ex-dividend date is Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a yield of 1.46%. Broadridge Financial Solutions’s payout ratio is currently 52.93%.

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.