Kovitz Investment Group Partners LLC Acquires Shares of 25,819 Broadridge Financial Solutions, Inc. (NYSE:BR)

Kovitz Investment Group Partners LLC purchased a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 25,819 shares of the business services provider's stock, valued at approximately $5,149,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bogart Wealth LLC grew its position in shares of 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 purchasing an additional 96 shares during the last quarter. EdgeRock Capital LLC acquired a new position in Broadridge Financial Solutions during the second quarter valued at approximately $32,000. Rothschild Investment LLC bought a new stake in shares of Broadridge Financial Solutions during the 2nd quarter worth about $32,000. True Wealth Design LLC grew its position in Broadridge Financial Solutions by 2,028.6% during the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider's stock worth $32,000 after buying an additional 142 shares in the last quarter. Finally, Family Firm Inc. bought a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at $37,000. Institutional investors own 90.03% of the company's stock.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, President Christopher John Perry sold 17,534 shares of the company's stock in a transaction dated 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 transaction, the president now directly owns 50,237 shares in the company, valued at approximately $10,721,078.17. This represents a 25.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Thomas P. Carey sold 10,757 shares of Broadridge Financial Solutions stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the transaction, the vice president now owns 12,689 shares of the company's stock, valued at approximately $2,878,118.98. The trade was a 45.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,066 shares of company stock valued at $16,006,777 over the last ninety days. Corporate insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a "neutral" rating in a research report on Tuesday, August 20th. Morgan Stanley lifted their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 6th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. StockNews.com downgraded shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, November 9th. Finally, UBS Group started coverage on Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a "neutral" rating and a $250.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $222.43.

Broadridge Financial Solutions Price Performance

Shares of Broadridge Financial Solutions stock traded down $1.72 during trading hours on Monday, reaching $233.71. The company's stock had a trading volume of 423,488 shares, compared to its average volume of 520,940. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $237.96. 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 firm has a 50 day moving average price of $222.41 and a 200-day moving average price of $211.72. The stock has a market cap of $27.32 billion, a P/E ratio of 40.73 and a beta of 1.07.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the firm posted $1.09 EPS. The company's revenue for the quarter was down .6% on a year-over-year basis. On average, analysts predict that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a $0.88 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.51%. Broadridge Financial Solutions's payout ratio is 60.90%.

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.