Swmg LLC Buys Shares of 3,161 Broadridge Financial Solutions, Inc. (NYSE:BR)

Swmg LLC acquired a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 3,161 shares of the business services provider's stock, valued at approximately $724,000.

A number of other hedge funds have also made changes to their positions in BR. Bahl & Gaynor Inc. lifted its position in Broadridge Financial Solutions by 0.6% during the second quarter. Bahl & Gaynor Inc. now owns 1,108,867 shares of the business services provider's stock worth $218,447,000 after buying an additional 6,634 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Broadridge Financial Solutions by 8.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider's stock worth $185,417,000 after purchasing an additional 72,018 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Broadridge Financial Solutions by 2.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider's stock valued at $194,585,000 after acquiring an additional 20,775 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Broadridge Financial Solutions by 3.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 800,716 shares of the business services provider's stock worth $157,741,000 after acquiring an additional 28,614 shares during the last quarter. Finally, abrdn plc boosted its position in shares of Broadridge Financial Solutions by 5.5% during the 3rd quarter. abrdn plc now owns 536,083 shares of the business services provider's stock worth $114,451,000 after purchasing an additional 27,869 shares during the period. Institutional investors and hedge funds own 90.03% of the company's stock.

Broadridge Financial Solutions Stock Up 1.3 %

NYSE:BR traded up $2.98 during trading hours on Thursday, hitting $235.91. The company's stock had a trading volume of 539,809 shares, compared to its average volume of 521,683. The stock has a market capitalization of $27.58 billion, a P/E ratio of 40.29 and a beta of 1.07. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. The stock has a fifty day moving average of $221.46 and a 200-day moving average of $211.17. Broadridge Financial Solutions, Inc. has a 52-week low of $188.30 and a 52-week high of $237.74.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the company posted $1.09 earnings per share. The firm's quarterly revenue was down .6% compared to the same quarter last year. On average, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share 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. Stockholders of record on Friday, December 13th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Friday, December 13th. Broadridge Financial Solutions's payout ratio is currently 60.90%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. Royal Bank of Canada reiterated an "outperform" rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Morgan Stanley lifted their price objective on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an "equal weight" rating in a report 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 shares of Broadridge Financial Solutions in a research report on Thursday, November 21st. They issued a "neutral" rating and a $250.00 price target for the company. 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 currently has an average rating of "Hold" and an average target price of $222.43.

Insider Activity

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 24,185 shares of the business's stock in a transaction on 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 sale, the insider now directly owns 27,137 shares in the company, valued at approximately $5,975,838.77. The trade was a 47.12 % 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, Director Maura A. Markus sold 3,880 shares of the company's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $227.02, for a total value of $880,837.60. Following the completion of the sale, the director now directly owns 27,788 shares in the company, valued at approximately $6,308,431.76. The trade was a 12.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 94,004 shares of company stock valued at $20,562,422. 1.30% of the stock is currently owned by company insiders.

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.