OmniStar Financial Group Inc. Acquires 241 Shares of Broadridge Financial Solutions, Inc. $BR

OmniStar Financial Group Inc. increased its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 9.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,673 shares of the business services provider’s stock after buying an additional 241 shares during the quarter. OmniStar Financial Group Inc.’s holdings in Broadridge Financial Solutions were worth $650,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Broadridge Financial Solutions by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 14,733,147 shares of the business services provider’s stock worth $3,572,199,000 after purchasing an additional 438,381 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Broadridge Financial Solutions by 4.3% during the 2nd quarter. Geode Capital Management LLC now owns 3,292,241 shares of the business services provider’s stock valued at $797,031,000 after acquiring an additional 136,386 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Broadridge Financial Solutions by 3.6% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,751,266 shares of the business services provider’s stock worth $425,610,000 after acquiring an additional 61,659 shares during the last quarter. Bahl & Gaynor Inc. increased its holdings in Broadridge Financial Solutions by 3.4% in the 1st quarter. Bahl & Gaynor Inc. now owns 1,168,351 shares of the business services provider’s stock worth $283,278,000 after purchasing an additional 38,527 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Broadridge Financial Solutions by 3.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,076,761 shares of the business services provider’s stock worth $261,071,000 after purchasing an additional 33,635 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 5,674 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $258.37, for a total value of $1,465,991.38. Following the completion of the sale, the chief executive officer directly owned 143,285 shares in the company, valued at $37,020,545.45. This trade represents a 3.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Stock Up 0.1%

Shares of NYSE:BR opened at $225.92 on Friday. Broadridge Financial Solutions, Inc. has a 1 year low of $212.33 and a 1 year high of $271.91. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.93 and a quick ratio of 0.93. The business’s 50-day moving average is $233.79 and its 200-day moving average is $241.28. The company has a market capitalization of $26.37 billion, a price-to-earnings ratio of 28.93 and a beta of 0.96.

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

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Friday, December 12th will be paid a $0.975 dividend. This represents a $3.90 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, December 12th. Broadridge Financial Solutions’s payout ratio is 49.94%.

Wall Street Analysts Forecast Growth

BR has been the subject of several recent research reports. Needham & Company LLC upped 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. UBS Group decreased their price target on shares of Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating for the company in a research report on Thursday. DA Davidson reissued a “neutral” rating and issued a $240.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, October 28th. Morgan Stanley lowered their target price on Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Broadridge Financial Solutions in a report on Tuesday. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $259.83.

Broadridge Financial Solutions 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.