Benjamin F. Edwards & Company Inc. Raises Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Benjamin F. Edwards & Company Inc. raised its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 601.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 132,831 shares of the business services provider’s stock after acquiring an additional 113,905 shares during the period. Benjamin F. Edwards & Company Inc. owned approximately 0.11% of Broadridge Financial Solutions worth $27,330,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in Broadridge Financial Solutions during the 3rd quarter worth approximately $25,000. Stuart Chaussee & Associates Inc. bought a new position in Broadridge Financial Solutions during the 4th quarter worth approximately $34,000. Headinvest LLC bought a new stake in shares of Broadridge Financial Solutions in the 3rd quarter worth approximately $32,000. BKM Wealth Management LLC bought a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth approximately $37,000. Finally, First Command Advisory Services Inc. bought a new stake in shares of Broadridge Financial Solutions in the 3rd quarter worth approximately $34,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BR shares. Evercore ISI reiterated an “outperform” rating and issued a $230.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Raymond James raised their target price on Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. DA Davidson restated a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th. Royal Bank of Canada raised their target price on Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Finally, StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $206.67.

Broadridge Financial Solutions Stock Up 1.0 %

NYSE:BR traded up $1.92 during trading hours on Thursday, reaching $195.35. 429,709 shares of the company traded hands, compared to its average volume of 494,195. The business’s 50-day moving average price is $200.41 and its two-hundred day moving average price is $194.93. The stock has a market capitalization of $23.01 billion, a P/E ratio of 33.70 and a beta of 0.98. Broadridge Financial Solutions, Inc. has a 1 year low of $144.54 and a 1 year 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:BR) last posted its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the previous year, the business earned $0.91 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. Analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio is currently 55.75%.

Insider Transactions at Broadridge Financial Solutions

In related news, insider Douglas Richard Deschutter sold 12,200 shares of Broadridge Financial Solutions stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $204.71, for a total value of $2,497,462.00. Following the completion of the sale, the insider now owns 32,480 shares of the company’s stock, valued at $6,648,980.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 830 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $201.58, for a total transaction of $167,311.40. Following the completion of the sale, the director now owns 5,445 shares of the company’s stock, valued at $1,097,603.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas Richard Deschutter sold 12,200 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $204.71, for a total value of $2,497,462.00. Following the sale, the insider now directly owns 32,480 shares of the company’s stock, valued at approximately $6,648,980.80. The disclosure for this sale can be found here. Insiders sold 48,483 shares of company stock worth $9,745,637 over the last quarter. 1.60% of the stock is currently owned by insiders.

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.