Keystone Financial Services Makes New Investment in Broadridge Financial Solutions, Inc. $BR

Keystone Financial Services purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 863 shares of the business services provider’s stock, valued at approximately $210,000.

Other institutional investors have also recently made changes to their positions in the company. Los Angeles Capital Management LLC grew its stake in shares of Broadridge Financial Solutions by 42.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 31,524 shares of the business services provider’s stock valued at $7,661,000 after buying an additional 9,376 shares during the period. AGF Management Ltd. raised its stake in Broadridge Financial Solutions by 12.1% during the 2nd quarter. AGF Management Ltd. now owns 12,982 shares of the business services provider’s stock worth $3,155,000 after buying an additional 1,401 shares during the period. AE Wealth Management LLC boosted its holdings in Broadridge Financial Solutions by 19.9% in the second quarter. AE Wealth Management LLC now owns 1,485 shares of the business services provider’s stock worth $361,000 after acquiring an additional 246 shares in the last quarter. Vestmark Advisory Solutions Inc. grew its stake in Broadridge Financial Solutions by 19.8% in the second quarter. Vestmark Advisory Solutions Inc. now owns 9,530 shares of the business services provider’s stock valued at $2,316,000 after acquiring an additional 1,576 shares during the period. Finally, Atlas Legacy Advisors LLC increased its holdings in shares of Broadridge Financial Solutions by 25.4% during the second quarter. Atlas Legacy Advisors LLC now owns 3,065 shares of the business services provider’s stock valued at $745,000 after acquiring an additional 620 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 5,674 shares of Broadridge Financial Solutions 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 in the company, valued at $37,020,545.45. The trade was a 3.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Christopher John Perry sold 7,036 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the transaction, the president owned 48,813 shares of the company’s stock, valued at approximately $12,824,151.36. The trade was a 12.60% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 147,532 shares of company stock valued at $38,417,208. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Wednesday. Needham & Company LLC lifted their price objective on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Morgan Stanley lowered their target price on shares of Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating on the stock in a report on Wednesday. DA Davidson reaffirmed a “neutral” rating and issued a $240.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, October 28th. Finally, UBS Group lifted 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. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $264.83.

Broadridge Financial Solutions Trading Up 2.0%

NYSE:BR opened at $221.83 on Friday. Broadridge Financial Solutions, Inc. has a 52 week low of $212.33 and a 52 week high of $271.91. The firm has a 50-day moving average price of $236.59 and a two-hundred day moving average price of $241.73. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.98 and a current ratio of 0.93. The firm has a market cap of $25.89 billion, a price-to-earnings ratio of 28.40 and a beta of 0.96.

Broadridge Financial Solutions (NYSE:BR) last released its 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 return on equity of 43.28% and a net margin of 13.11%. On average, equities analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

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.