Cambridge Investment Research Advisors Inc. Increases Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Cambridge Investment Research Advisors Inc. increased its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 11.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 13,653 shares of the business services provider’s stock after acquiring an additional 1,448 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Broadridge Financial Solutions were worth $2,797,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stifel Financial Corp grew its position in shares of Broadridge Financial Solutions by 1,700.7% during the 3rd quarter. Stifel Financial Corp now owns 1,542,507 shares of the business services provider’s stock worth $276,194,000 after buying an additional 1,456,847 shares in the last quarter. Confluence Investment Management LLC purchased a new position in Broadridge Financial Solutions during the first quarter valued at approximately $144,033,000. Envestnet Asset Management Inc. lifted its holdings in Broadridge Financial Solutions by 124.8% during the third quarter. Envestnet Asset Management Inc. now owns 687,830 shares of the business services provider’s stock worth $123,156,000 after buying an additional 381,882 shares during the period. APG Asset Management US Inc. purchased a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at $70,498,000. Finally, Norges Bank bought a new stake in Broadridge Financial Solutions during the fourth quarter valued at about $67,605,000. 90.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BR shares. DA Davidson restated a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, June 6th. Finally, Evercore ISI restated an “outperform” rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Broadridge Financial Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $206.67.

Broadridge Financial Solutions Trading Down 0.1 %

BR traded down $0.20 during trading hours on Tuesday, reaching $196.65. The company’s stock had a trading volume of 327,244 shares, compared to its average volume of 520,158. The stock has a market cap of $23.24 billion, a PE ratio of 33.68 and a beta of 1.03. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39. Broadridge Financial Solutions, Inc. has a fifty-two week low of $153.09 and a fifty-two week high of $210.24. The business’s 50-day moving average is $198.24 and its 200-day moving average is $199.33.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.24 by ($0.01). Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the business posted $2.05 EPS. Broadridge Financial Solutions’s revenue was up 4.9% on a year-over-year basis. As a group, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be given a dividend of $0.80 per share. The ex-dividend date is Friday, June 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.63%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 54.61%.

Insider Activity

In related news, Director Robert N. Duelks sold 3,473 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total transaction of $687,862.38. Following the sale, the director now owns 22,588 shares of the company’s stock, valued at $4,473,779.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Robert N. Duelks sold 3,473 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total value of $687,862.38. Following the transaction, the director now directly owns 22,588 shares of the company’s stock, valued at approximately $4,473,779.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas P. Carey sold 2,500 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.40, for a total transaction of $501,000.00. Following the transaction, the vice president now directly owns 9,361 shares in the company, valued at $1,875,944.40. The disclosure for this sale can be found here. Corporate insiders own 1.60% 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.