Mattern Capital Management LLC Buys 1,398 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Mattern Capital Management LLC raised its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BRFree Report) by 3.2% during the third quarter, HoldingsChannel reports. The firm owned 44,817 shares of the business services provider’s stock after purchasing an additional 1,398 shares during the period. Broadridge Financial Solutions comprises 1.3% of Mattern Capital Management LLC’s portfolio, making the stock its 21st largest holding. Mattern Capital Management LLC’s holdings in Broadridge Financial Solutions were worth $8,024,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. grew its position in Broadridge Financial Solutions by 10.7% during the 1st quarter. American Century Companies Inc. now owns 8,155 shares of the business services provider’s stock worth $1,270,000 after purchasing an additional 788 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Broadridge Financial Solutions by 6.8% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,625 shares of the business services provider’s stock valued at $2,433,000 after acquiring an additional 992 shares during the period. Raymond James Trust N.A. lifted its stake in Broadridge Financial Solutions by 126.2% during the 1st quarter. Raymond James Trust N.A. now owns 3,384 shares of the business services provider’s stock valued at $527,000 after acquiring an additional 1,888 shares during the period. Canada Pension Plan Investment Board lifted its stake in Broadridge Financial Solutions by 1,851.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 527 shares of the business services provider’s stock valued at $82,000 after acquiring an additional 500 shares during the period. Finally, Allianz Asset Management GmbH lifted its stake in Broadridge Financial Solutions by 13.2% during the 1st quarter. Allianz Asset Management GmbH now owns 12,722 shares of the business services provider’s stock valued at $1,981,000 after acquiring an additional 1,487 shares during the period. Hedge funds and other institutional investors own 89.36% of the company’s stock.

Broadridge Financial Solutions Stock Down 2.5 %

NYSE:BR traded down $4.96 during mid-day trading on Monday, hitting $196.78. The stock had a trading volume of 67,566 shares, compared to its average volume of 549,305. The stock has a 50-day simple moving average of $199.28 and a two-hundred day simple moving average of $186.17. The company has a market capitalization of $23.17 billion, a PE ratio of 35.15 and a beta of 1.01. Broadridge Financial Solutions, Inc. has a twelve month low of $133.97 and a twelve month high of $210.24. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.77.

Broadridge Financial Solutions (NYSE:BRGet Free Report) last announced its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 earnings per share. On average, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.7 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 5th. Investors of record on Friday, December 15th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Thursday, December 14th. Broadridge Financial Solutions’s dividend payout ratio is presently 55.75%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BR. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Royal Bank of Canada boosted their target price on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research note on Friday. Wolfe Research upgraded shares of Broadridge Financial Solutions from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, October 17th. Raymond James boosted their target price on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Morgan Stanley boosted their target price on shares of Broadridge Financial Solutions from $175.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, December 8th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Broadridge Financial Solutions has an average rating of “Moderate Buy” and a consensus target price of $203.17.

Read Our Latest Stock Analysis on Broadridge Financial Solutions

Insider Buying and Selling

In related news, President Christopher John Perry sold 20,614 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $176.94, for a total transaction of $3,647,441.16. Following the completion of the sale, the president now directly owns 56,738 shares of the company’s stock, valued at $10,039,221.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Broadridge Financial Solutions news, President Christopher John Perry sold 20,614 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $176.94, for a total value of $3,647,441.16. Following the completion of the sale, the president now owns 56,738 shares of the company’s stock, valued at $10,039,221.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Keir D. Gumbs sold 3,771 shares of the firm’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $176.61, for a total value of $665,996.31. Following the completion of the sale, the vice president now directly owns 14,403 shares of the company’s stock, valued at approximately $2,543,713.83. The disclosure for this sale can be found here. Insiders sold a total of 42,909 shares of company stock valued at $8,003,375 over the last three months. 1.60% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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