Private Advisor Group LLC Takes Position in Broadridge Financial Solutions, Inc. (BR)
Private Advisor Group LLC purchased a new position in Broadridge Financial Solutions, Inc. (NYSE:BR) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,290 shares of the business services provider’s stock, valued at approximately $2,690,000.
Other large investors have also recently made changes to their positions in the company. Squar Milner Financial Services LLC bought a new position in shares of Broadridge Financial Solutions in the second quarter valued at approximately $109,000. Bartlett & Co. LLC lifted its holdings in shares of Broadridge Financial Solutions by 375.0% in the second quarter. Bartlett & Co. LLC now owns 950 shares of the business services provider’s stock valued at $109,000 after purchasing an additional 750 shares in the last quarter. Centaurus Financial Inc. bought a new position in shares of Broadridge Financial Solutions in the first quarter valued at approximately $116,000. Piedmont Investment Advisors LLC bought a new position in shares of Broadridge Financial Solutions in the second quarter valued at approximately $154,000. Finally, Northstar Group Inc. bought a new position in shares of Broadridge Financial Solutions in the second quarter valued at approximately $200,000. Institutional investors and hedge funds own 80.29% of the company’s stock.
Shares of BR opened at $134.33 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market cap of $15.44 billion, a P/E ratio of 32.06, a price-to-earnings-growth ratio of 2.86 and a beta of 0.79. Broadridge Financial Solutions, Inc. has a 12 month low of $76.29 and a 12 month high of $134.68.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 3rd. Investors of record on Tuesday, September 18th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.44%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, September 17th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 34.84%.
A number of research analysts have recently weighed in on the company. ValuEngine upgraded Broadridge Financial Solutions from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. Wolfe Research assumed coverage on Broadridge Financial Solutions in a report on Tuesday, July 17th. They issued a “market perform” rating on the stock. Zacks Investment Research lowered Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a report on Tuesday, May 1st. Finally, Sandler O’Neill restated a “hold” rating and issued a $130.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, August 7th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $116.75.
In related news, insider Adam D. Amsterdam sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 5th. The stock was sold at an average price of $117.97, for a total transaction of $1,179,700.00. Following the completion of the sale, the insider now directly owns 10,882 shares of the company’s stock, valued at $1,283,749.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP James M. Young sold 44,726 shares of the stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $129.79, for a total value of $5,804,987.54. Following the sale, the vice president now directly owns 64,848 shares of the company’s stock, valued at $8,416,621.92. The disclosure for this sale can be found here. Insiders have sold 121,208 shares of company stock valued at $14,839,805 over the last ninety days. 2.60% of the stock is currently owned by company insiders.
About Broadridge Financial Solutions
Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.
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