Snowden Capital Advisors LLC Grows Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Snowden Capital Advisors LLC raised its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 5.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,324 shares of the business services provider’s stock after buying an additional 113 shares during the quarter. Snowden Capital Advisors LLC’s holdings in Broadridge Financial Solutions were worth $527,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Royal Bank of Canada lifted its position in shares of Broadridge Financial Solutions by 38.3% during the fourth quarter. Royal Bank of Canada now owns 333,649 shares of the business services provider’s stock valued at $75,435,000 after buying an additional 92,365 shares during the last quarter. Rafferty Asset Management LLC lifted its position in shares of Broadridge Financial Solutions by 11.5% during the fourth quarter. Rafferty Asset Management LLC now owns 10,913 shares of the business services provider’s stock valued at $2,467,000 after buying an additional 1,127 shares during the last quarter. Prana Capital Management LP purchased a new stake in shares of Broadridge Financial Solutions during the fourth quarter valued at about $4,622,000. Quantinno Capital Management LP raised its position in shares of Broadridge Financial Solutions by 34.7% in the 4th quarter. Quantinno Capital Management LP now owns 15,816 shares of the business services provider’s stock valued at $3,576,000 after purchasing an additional 4,071 shares during the last quarter. Finally, Mufg Securities Americas Inc. purchased a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at approximately $390,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Broadridge Financial Solutions

In related news, Director Pamela L. Carter sold 4,829 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $242.23, for a total value of $1,169,728.67. Following the sale, the director now owns 7,242 shares of the company’s stock, valued at approximately $1,754,229.66. This trade represents a 40.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert N. Duelks sold 485 shares of Broadridge Financial Solutions stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $237.93, for a total transaction of $115,396.05. Following the completion of the sale, the director now directly owns 4,960 shares in the company, valued at $1,180,132.80. This represents a 8.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 128,302 shares of company stock valued at $30,242,095 in the last 90 days. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on BR shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $259.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday. Morgan Stanley increased their price objective on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. UBS Group increased 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 report on Monday, February 3rd. Needham & Company LLC assumed coverage on shares of Broadridge Financial Solutions in a report on Tuesday, May 6th. They issued a “buy” rating and a $300.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price target on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $250.83.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR opened at $242.33 on Wednesday. Broadridge Financial Solutions, Inc. has a twelve month low of $192.68 and a twelve month high of $247.01. The company’s 50 day moving average is $234.92 and its 200 day moving average is $233.19. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The company has a market cap of $28.46 billion, a PE ratio of 37.92 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.03. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The business’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the company earned $2.23 EPS. On average, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.45%. Broadridge Financial Solutions’s payout ratio is 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.