Portside Wealth Group LLC Raises Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Portside Wealth Group LLC grew its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 15.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,852 shares of the business services provider’s stock after buying an additional 248 shares during the quarter. Portside Wealth Group LLC’s holdings in Broadridge Financial Solutions were worth $398,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Bogart Wealth LLC lifted its stake in 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 in the last quarter. EdgeRock Capital LLC acquired a new position in shares of Broadridge Financial Solutions during the second quarter valued at approximately $32,000. Rothschild Investment LLC purchased a new position in shares of Broadridge Financial Solutions in the second quarter valued at approximately $32,000. New Covenant Trust Company N.A. acquired a new stake in shares of Broadridge Financial Solutions in the first quarter worth approximately $34,000. Finally, Family Firm Inc. purchased a new stake in shares of Broadridge Financial Solutions during the second quarter worth approximately $37,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, insider Douglas Richard Deschutter sold 24,185 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the completion of the sale, the insider now directly owns 27,137 shares of the company’s stock, valued at approximately $5,975,838.77. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Douglas Richard Deschutter sold 24,185 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total value of $5,325,778.85. Following the transaction, the insider now directly owns 27,137 shares in the company, valued at approximately $5,975,838.77. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Christopher John Perry sold 17,534 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the sale, the president now owns 50,237 shares of the company’s stock, valued at $10,721,078.17. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 157,898 shares of company stock worth $33,293,234 over the last quarter. 1.30% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Price Performance

Shares of BR stock opened at $225.36 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market capitalization of $26.34 billion, a PE ratio of 38.46 and a beta of 1.05. The firm’s 50-day moving average is $214.29 and its two-hundred day moving average is $206.90. Broadridge Financial Solutions, Inc. has a 12 month low of $175.21 and a 12 month high of $226.16.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.97 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.09 EPS. Analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current year.

Analyst Ratings Changes

BR has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price 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. Morgan Stanley boosted their price target on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday. Finally, StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Broadridge Financial Solutions currently has an average rating of “Hold” and an average price target of $217.83.

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.