Covenant Partners LLC Purchases New Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Covenant Partners LLC acquired a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 973 shares of the business services provider’s stock, valued at approximately $209,000.

Several other institutional investors have also modified their holdings of BR. Bogart Wealth LLC grew its position in shares of Broadridge Financial Solutions by 384.0% in the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after buying an additional 96 shares during the last quarter. EdgeRock Capital LLC acquired a new stake in shares of Broadridge Financial Solutions during the second quarter worth about $32,000. Rothschild Investment LLC purchased a new stake in shares of Broadridge Financial Solutions in the 2nd quarter valued at about $32,000. New Covenant Trust Company N.A. acquired a new stake in shares of Broadridge Financial Solutions in the 1st quarter valued at about $34,000. Finally, Family Firm Inc. purchased a new position in Broadridge Financial Solutions during the 2nd quarter worth approximately $37,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analysts Set New Price Targets

BR has been the subject of several research analyst reports. Royal Bank of Canada increased their price objective on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $213.33.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Laura Matlin sold 673 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction of $145,368.00. Following the transaction, the vice president now directly owns 5,530 shares in the company, valued at approximately $1,194,480. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Broadridge Financial Solutions news, VP Laura Matlin sold 673 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the sale, the vice president now directly owns 5,530 shares in the company, valued at approximately $1,194,480. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Christopher John Perry sold 31,539 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total value of $6,540,242.43. Following the completion of the transaction, the president now owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 134,386 shares of company stock worth $28,112,824. Corporate insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock traded down $2.73 during trading hours on Friday, reaching $214.03. 271,083 shares of the stock were exchanged, compared to its average volume of 519,562. The stock has a market cap of $25.29 billion, a P/E ratio of 36.52 and a beta of 1.05. The firm’s 50 day moving average is $213.32 and its 200 day moving average is $205.65. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08. Broadridge Financial Solutions, Inc. has a 52-week low of $166.73 and a 52-week high of $224.32.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the firm earned $3.21 earnings per share. The firm’s revenue was up 5.7% compared to the same quarter last year. Analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a $0.88 dividend. The ex-dividend date was Thursday, September 12th. This represents a $3.52 dividend on an annualized basis and a yield of 1.64%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 60.07%.

Broadridge Financial Solutions Company 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.