Forsta AP Fonden Grows Position in Broadridge Financial Solutions, Inc. $BR

Forsta AP Fonden raised its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 35.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 73,500 shares of the business services provider’s stock after purchasing an additional 19,100 shares during the period. Forsta AP Fonden owned 0.06% of Broadridge Financial Solutions worth $17,863,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Clarus Group Inc. increased its holdings in shares of Broadridge Financial Solutions by 1.5% during the 2nd quarter. Clarus Group Inc. now owns 2,951 shares of the business services provider’s stock worth $717,000 after buying an additional 44 shares during the last quarter. Harbour Investments Inc. boosted its holdings in Broadridge Financial Solutions by 10.1% in the second quarter. Harbour Investments Inc. now owns 489 shares of the business services provider’s stock valued at $119,000 after acquiring an additional 45 shares during the last quarter. Norden Group LLC grew its position in Broadridge Financial Solutions by 2.6% during the first quarter. Norden Group LLC now owns 1,852 shares of the business services provider’s stock valued at $449,000 after acquiring an additional 47 shares during the period. Cresset Asset Management LLC increased its stake in Broadridge Financial Solutions by 1.8% during the first quarter. Cresset Asset Management LLC now owns 2,820 shares of the business services provider’s stock worth $686,000 after acquiring an additional 49 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in Broadridge Financial Solutions by 7.0% during the first quarter. Smartleaf Asset Management LLC now owns 747 shares of the business services provider’s stock worth $177,000 after acquiring an additional 49 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of BR stock opened at $223.42 on Thursday. The firm has a fifty day simple moving average of $234.82 and a 200-day simple moving average of $241.47. The company has a market capitalization of $26.08 billion, a PE ratio of 28.61 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a twelve month low of $212.33 and a twelve month high of $271.91. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.06.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share (EPS) for the quarter. The firm had revenue of $1.05 billion for the quarter. Broadridge Financial Solutions had a net margin of 13.11% and a return on equity of 43.28%. Equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

BR has been the topic of several research analyst reports. Needham & Company LLC lifted their price objective on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. DA Davidson reaffirmed a “neutral” rating and set a $240.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, October 28th. Morgan Stanley decreased their price objective on shares of Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, UBS Group lifted their target price on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a “neutral” rating in a report on Friday, August 8th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Broadridge Financial Solutions currently has an average rating of “Hold” and a consensus price target of $264.83.

Insider Buying and Selling

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 11,000 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $259.29, for a total transaction of $2,852,190.00. Following the completion of the sale, the chief executive officer owned 154,634 shares in the company, valued at $40,095,049.86. This trade represents a 6.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Company Profile

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.