Bayforest Capital Ltd Acquires New Stake in Broadridge Financial Solutions, Inc. $BR

Key Points

• Bayforest Capital Ltd has acquired a new stake in Broadridge Financial Solutions, Inc., purchasing 2,069 shares valued at approximately $503,000, according to their latest SEC 13F filing.
• Recent research reports indicate that analysts are optimistic about Broadridge, with UBS, Needham, and Morgan Stanley increasing their target prices and giving the stock ratings ranging from "buy" to "hold."
• Broadridge Financial Solutions recently increased its quarterly dividend from $0.88 to $0.975 per share, representing an annualized dividend yield of 1.7%.

Bayforest Capital Ltd acquired a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,069 shares of the business services provider's stock, valued at approximately $503,000.

A number of other large investors have also modified their holdings of BR. Sagespring Wealth Partners LLC lifted its stake in shares of Broadridge Financial Solutions by 18.2% in the second quarter. Sagespring Wealth Partners LLC now owns 1,262 shares of the business services provider's stock worth $307,000 after buying an additional 194 shares in the last quarter. Axxcess Wealth Management LLC grew its stake in Broadridge Financial Solutions by 1.9% during the 2nd quarter. Axxcess Wealth Management LLC now owns 26,786 shares of the business services provider's stock valued at $6,510,000 after acquiring an additional 511 shares in the last quarter. NorthRock Partners LLC grew its stake in Broadridge Financial Solutions by 9.8% during the 2nd quarter. NorthRock Partners LLC now owns 2,064 shares of the business services provider's stock valued at $503,000 after acquiring an additional 184 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in Broadridge Financial Solutions by 146.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,843 shares of the business services provider's stock valued at $691,000 after acquiring an additional 1,690 shares during the last quarter. Finally, Pegasus Asset Management Inc. purchased a new position in Broadridge Financial Solutions in the 2nd quarter worth approximately $235,000. Hedge funds and other institutional investors own 90.03% of the company's stock.

Wall Street Analysts Forecast Growth

BR has been the topic of several recent research reports. UBS Group boosted their target price on Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Needham & Company LLC boosted their price objective on Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Morgan Stanley upped their target price on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Weiss Ratings reiterated a "buy (b)" rating on shares of Broadridge Financial Solutions in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Saturday, October 4th. Three research 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, Broadridge Financial Solutions currently has an average rating of "Hold" and an average target price of $261.50.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 5,674 shares of the company's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $258.37, for a total transaction of $1,465,991.38. Following the transaction, the chief executive officer directly owned 143,285 shares in the company, valued at $37,020,545.45. This represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Christopher John Perry sold 7,036 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total value of $1,848,497.92. Following the completion of the sale, the president directly owned 48,813 shares of the company's stock, valued at $12,824,151.36. The trade was a 12.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,532 shares of company stock valued at $38,417,208 in the last quarter. 1.10% of the stock is owned by insiders.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock opened at $235.03 on Wednesday. The firm has a market cap of $27.43 billion, a PE ratio of 33.15 and a beta of 0.95. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.04. Broadridge Financial Solutions, Inc. has a 52 week low of $208.20 and a 52 week high of $271.91. The business's fifty day simple moving average is $249.12 and its 200-day simple moving average is $242.50.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings data 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 12.19% and a return on equity of 42.72%. Equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Thursday, September 11th were given a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Thursday, September 11th. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.88. Broadridge Financial Solutions's dividend payout ratio is 55.01%.

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.

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