MGO One Seven LLC Acquires 681 Shares of Broadridge Financial Solutions, Inc. $BR

MGO One Seven LLC lifted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 47.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,106 shares of the business services provider’s stock after acquiring an additional 681 shares during the period. MGO One Seven LLC’s holdings in Broadridge Financial Solutions were worth $512,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BR. Brighton Jones LLC bought a new position in shares of Broadridge Financial Solutions in the fourth quarter worth about $580,000. GAMMA Investing LLC boosted its stake in shares of Broadridge Financial Solutions by 28.3% in the first quarter. GAMMA Investing LLC now owns 4,083 shares of the business services provider’s stock worth $990,000 after acquiring an additional 901 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Broadridge Financial Solutions by 42.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,933 shares of the business services provider’s stock worth $7,015,000 after acquiring an additional 8,675 shares during the period. Exchange Traded Concepts LLC boosted its stake in Broadridge Financial Solutions by 12.3% during the first quarter. Exchange Traded Concepts LLC now owns 655 shares of the business services provider’s stock valued at $159,000 after buying an additional 72 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in Broadridge Financial Solutions during the first quarter valued at approximately $3,069,000. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

NYSE:BR opened at $228.97 on Friday. The firm has a market capitalization of $26.73 billion, a price-to-earnings ratio of 32.30 and a beta of 0.95. Broadridge Financial Solutions, Inc. has a 1 year low of $208.20 and a 1 year high of $271.91. The business has a 50 day simple moving average of $246.88 and a 200-day simple moving average of $242.21. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.98 and a quick ratio of 0.98.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 earnings per share (EPS) for the quarter. The business had revenue of $1.05 billion during the quarter. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%. Equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were issued a $0.975 dividend. The ex-dividend date was Thursday, September 11th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. This represents a $3.90 annualized dividend and a dividend yield of 1.7%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 55.01%.

Insider Activity at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 7,036 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total value of $1,848,497.92. Following the sale, the president directly owned 48,813 shares in the company, valued at approximately $12,824,151.36. This represents a 12.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy C. Gokey sold 5,674 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was 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 owned 143,285 shares in the company, valued at approximately $37,020,545.45. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 147,532 shares of company stock worth $38,417,208. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BR. Needham & Company LLC increased their price target 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. Weiss Ratings reissued a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Wednesday, October 8th. UBS Group increased their price target on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a “neutral” rating in a research note on Friday, August 8th. Morgan Stanley increased their price target on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $261.50.

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.