Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Bought by Wedmont Private Capital

Wedmont Private Capital boosted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 30.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 2,609 shares of the business services provider’s stock after purchasing an additional 606 shares during the quarter. Wedmont Private Capital’s holdings in Broadridge Financial Solutions were worth $604,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BR. Whipplewood Advisors LLC lifted its holdings in shares of Broadridge Financial Solutions by 2,620.0% in the 1st quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider’s stock valued at $33,000 after buying an additional 131 shares during the period. Minot DeBlois Advisors LLC purchased a new position in Broadridge Financial Solutions during the fourth quarter valued at approximately $34,000. Gen Wealth Partners Inc purchased a new position in Broadridge Financial Solutions during the fourth quarter valued at approximately $36,000. Curio Wealth LLC acquired a new position in Broadridge Financial Solutions in the fourth quarter valued at approximately $45,000. Finally, Promus Capital LLC purchased a new stake in Broadridge Financial Solutions in the 4th quarter worth approximately $52,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on BR shares. Needham & Company LLC initiated coverage on shares of Broadridge Financial Solutions in a research note on Tuesday, May 6th. They set a “buy” rating and a $300.00 price objective on the stock. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $259.00 price objective on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Broadridge Financial Solutions currently has a consensus rating of “Hold” and a consensus price target of $250.83.

Broadridge Financial Solutions Stock Down 0.7%

Broadridge Financial Solutions stock opened at $243.74 on Tuesday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a market capitalization of $28.63 billion, a PE ratio of 38.14 and a beta of 0.96. The business has a 50 day simple moving average of $236.20 and a 200-day simple moving average of $234.90. Broadridge Financial Solutions, Inc. has a 12 month low of $192.68 and a 12 month high of $247.01.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.03. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.23 EPS. On average, analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be given a $0.88 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.44%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 52.93%.

Insider Transactions at Broadridge Financial Solutions

In related news, insider Douglas Richard Deschutter sold 5,056 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total value of $1,211,164.80. Following the completion of the transaction, the insider now directly owns 21,167 shares of the company’s stock, valued at approximately $5,070,554.85. This represents a 19.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maura A. Markus sold 3,556 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total transaction of $864,392.48. Following the sale, the director now directly owns 30,892 shares in the company, valued at approximately $7,509,227.36. This trade represents a 10.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,116 shares of company stock valued at $4,352,298 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.

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.