Broadridge Financial Solutions, Inc. $BR Shares Acquired by PDS Planning Inc

PDS Planning Inc boosted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BRFree Report) by 5.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,025 shares of the business services provider’s stock after purchasing an additional 57 shares during the quarter. PDS Planning Inc’s holdings in Broadridge Financial Solutions were worth $249,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BR. Jones Financial Companies Lllp boosted its position in Broadridge Financial Solutions by 28,222.6% during the 1st quarter. Jones Financial Companies Lllp now owns 949,657 shares of the business services provider’s stock valued at $230,254,000 after purchasing an additional 946,304 shares during the period. Ameriprise Financial Inc. boosted its position in Broadridge Financial Solutions by 577.9% during the 1st quarter. Ameriprise Financial Inc. now owns 1,035,938 shares of the business services provider’s stock valued at $251,513,000 after purchasing an additional 883,125 shares during the period. Vanguard Group Inc. boosted 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 valued at $3,572,199,000 after purchasing an additional 438,381 shares during the period. Nuveen LLC acquired a new position in Broadridge Financial Solutions during the 1st quarter valued at approximately $91,445,000. Finally, Principal Financial Group Inc. boosted its position in Broadridge Financial Solutions by 156.8% during the 1st quarter. Principal Financial Group Inc. now owns 404,830 shares of the business services provider’s stock valued at $98,155,000 after purchasing an additional 247,157 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BR. UBS Group boosted their price objective on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday, August 8th. Needham & Company LLC lifted their target price 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. Morgan Stanley lifted their target price on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Wall Street Zen raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Broadridge Financial Solutions presently has an average rating of “Hold” and a consensus target price of $261.50.

Read Our Latest Research Report on BR

Broadridge Financial Solutions Stock Down 0.6%

BR opened at $232.81 on Monday. Broadridge Financial Solutions, Inc. has a one year low of $208.20 and a one year high of $271.91. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.98 and a current ratio of 0.98. The stock’s fifty day moving average is $250.05 and its 200-day moving average is $242.59. The company has a market capitalization of $27.17 billion, a PE ratio of 32.84 and a beta of 0.95.

Broadridge Financial Solutions (NYSE:BRGet Free Report) last posted its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%.The company had revenue of $1.05 billion for the quarter. On average, equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders 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%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Thursday, September 11th. Broadridge Financial Solutions’s payout ratio is presently 55.01%.

Insiders Place Their Bets

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

About Broadridge Financial Solutions

(Free Report)

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.

See Also

Want to see what other hedge funds are holding BR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadridge Financial Solutions, Inc. (NYSE:BRFree Report).

Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

Receive News & Ratings for Broadridge Financial Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadridge Financial Solutions and related companies with MarketBeat.com's FREE daily email newsletter.