DRW Securities LLC Makes New Investment in Broadridge Financial Solutions, Inc. (NYSE:BR)

DRW Securities LLC purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,122 shares of the business services provider’s stock, valued at approximately $241,000.

A number of other institutional investors have also modified their holdings of BR. Bogart Wealth LLC raised its stake in Broadridge Financial Solutions by 384.0% in the third 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 purchased a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at approximately $32,000. Rothschild Investment LLC acquired a new stake in Broadridge Financial Solutions in the 2nd quarter worth approximately $32,000. New Covenant Trust Company N.A. purchased a new stake in Broadridge Financial Solutions during the 1st quarter worth approximately $34,000. Finally, Hazlett Burt & Watson Inc. purchased a new stake in Broadridge Financial Solutions during the 3rd quarter worth approximately $38,000. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $235.80 on Thursday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. The stock has a market capitalization of $27.56 billion, a price-to-earnings ratio of 40.80 and a beta of 1.05. The firm’s 50 day simple moving average is $218.43 and its 200-day simple moving average is $209.84. Broadridge Financial Solutions, Inc. has a 12 month low of $186.19 and a 12 month high of $237.74.

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 company 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 10.57% and a return on equity of 41.79%. The firm’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the business earned $1.09 earnings per share. Analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a dividend of $0.88 per share. The ex-dividend date is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.49%. Broadridge Financial Solutions’s dividend payout ratio is currently 60.90%.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, Director Maura A. Markus sold 3,880 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the transaction, the director now owns 27,788 shares in the company, valued at $6,308,431.76. This trade represents a 12.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Richard J. Daly sold 21,938 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the completion of the sale, the chairman now directly owns 105,094 shares of the company’s stock, valued at approximately $21,823,820.04. The trade was a 17.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,294 shares of company stock valued at $16,944,095. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

BR has been the subject of several research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $246.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. UBS Group began coverage on Broadridge Financial Solutions in a research note on Thursday, November 21st. They set a “neutral” rating and a $250.00 price target on the stock. Morgan Stanley raised their price objective on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Finally, JPMorgan Chase & Co. raised 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 report on Tuesday, August 20th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Broadridge Financial Solutions currently has an average rating of “Hold” and an average target price of $222.43.

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.