Today, State Treasurer State of Michigan invests in 200 by buying Broadridge Financial Solutions Inc. (BR) shares

Today, State Treasurer State of Michigan invests in 200 by buying Broadridge Financial Solutions Inc. (BR) shares
State Treasurer State of Michigan increased its position in Broadridge Financial Solutions Inc. (NYSE:BR) by 0.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 73,722 shares of the company’s stock after buying an additional 200 shares during the period. State Treasurer State of Michigan owned approximately 0.06% of Broadridge Financial Solutions worth $4,998,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of Broadridge Financial Solutions by 12.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,574 shares of the company’s stock worth $103,000 after buying an additional 176 shares during the last quarter. Integrated Investment Consultants LLC raised its stake in Broadridge Financial Solutions by 214.8% in the second quarter. Integrated Investment Consultants LLC now owns 2,125 shares of the company’s stock worth $139,000 after buying an additional 1,450 shares during the period. Capital Guardian Trust Co. raised its stake in Broadridge Financial Solutions by 13.4% in the second quarter. Capital Guardian Trust Co. now owns 2,525 shares of the company’s stock worth $165,000 after buying an additional 299 shares during the period. Strs Ohio acquired a new stake in Broadridge Financial Solutions during the second quarter worth approximately $173,000. Finally, IFP Advisors Inc raised its stake in Broadridge Financial Solutions by 17.5% in the second quarter. IFP Advisors Inc now owns 2,649 shares of the company’s stock worth $173,000 after buying an additional 395 shares during the period. 84.99% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Inc. (NYSE:BR) opened at 65.86 on Friday. Broadridge Financial Solutions Inc. has a 12 month low of $48.56 and a 12 month high of $71.74. The firm has a 50-day moving average price of $64.41 and a 200-day moving average price of $66.03. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of 26.03 and a beta of 1.10.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Wednesday, November 9th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by $0.02. Broadridge Financial Solutions had a net margin of 9.62% and a return on equity of 34.10%. The business earned $895 million during the quarter, compared to analyst estimates of $880.41 million. During the same quarter in the previous year, the firm posted $0.33 earnings per share. The firm’s quarterly revenue was up 50.4% on a year-over-year basis. On average, equities analysts anticipate that Broadridge Financial Solutions Inc. will post $3.12 earnings per share for the current fiscal year.

BR has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research report on Tuesday, October 11th. Sandler O’Neill lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating and set a $74.00 price target on the stock. in a research report on Thursday, September 29th. Atlantic Securities initiated coverage on Broadridge Financial Solutions in a research report on Tuesday, September 13th. They set an “overweight” rating and a $82.00 price target on the stock. Finally, Barclays PLC increased their price target on Broadridge Financial Solutions from $67.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 10th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $72.60.

In other news, Director Stuart R. Levine sold 8,170 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $64.98, for a total value of $530,886.60. Following the completion of the sale, the director now directly owns 35,130 shares in the company, valued at $2,282,747.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Richard J. Daly sold 244,935 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, September 23rd. The shares were sold at an average price of $69.36, for a total transaction of $16,988,691.60. Following the completion of the sale, the insider now owns 226,507 shares of the company’s stock, valued at $15,710,525.52. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by insiders.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company’s segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment.

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