Neo Ivy Capital Management Takes Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Neo Ivy Capital Management purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 6,744 shares of the business services provider's stock, valued at approximately $1,450,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of BR. Qsemble Capital Management LP acquired a new stake in Broadridge Financial Solutions during the 3rd quarter worth about $1,412,000. Atria Investments Inc increased its holdings in shares of Broadridge Financial Solutions by 9.7% in the 3rd quarter. Atria Investments Inc now owns 29,638 shares of the business services provider's stock valued at $6,373,000 after purchasing an additional 2,610 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Broadridge Financial Solutions by 22.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,504 shares of the business services provider's stock valued at $7,191,000 after purchasing an additional 6,690 shares during the period. Horizon Kinetics Asset Management LLC acquired a new position in shares of Broadridge Financial Solutions in the 3rd quarter valued at about $483,000. Finally, Legacy Capital Wealth Partners LLC increased its holdings in shares of Broadridge Financial Solutions by 82.7% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 7,107 shares of the business services provider's stock valued at $1,528,000 after purchasing an additional 3,216 shares during the period. 90.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 15,710 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the completion of the transaction, the vice president now directly owns 12,146 shares in the company, valued at $2,797,466.72. This represents a 56.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Douglas Richard Deschutter sold 24,185 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $220.21, for a total value of $5,325,778.85. Following the transaction, the insider now owns 27,137 shares of the company's stock, valued at $5,975,838.77. This represents a 47.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,532 shares of company stock worth $12,264,846. 1.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BR has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a "neutral" rating in a research note on Tuesday, August 20th. StockNews.com cut Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, November 9th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. DA Davidson upped their target price on Broadridge Financial Solutions from $210.00 to $215.00 and gave the stock a "neutral" rating in a research report on Tuesday. Finally, Morgan Stanley upped their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $226.71.

Broadridge Financial Solutions Stock Performance

Shares of BR traded up $0.62 during mid-day trading on Wednesday, hitting $236.52. The company's stock had a trading volume of 104,684 shares, compared to its average volume of 518,435. 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 quick ratio of 1.39 and a current ratio of 1.39. The firm has a market capitalization of $27.65 billion, a PE ratio of 40.81 and a beta of 1.07. The stock's 50-day moving average is $223.21 and its two-hundred day moving average is $212.19.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.03. The company had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. Broadridge Financial Solutions's revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.09 earnings per share. As a group, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.49%. 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.