Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Purchased by Webster Bank N. A.

Webster Bank N. A. raised its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 120.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 447 shares of the business services provider’s stock after purchasing an additional 244 shares during the period. Webster Bank N. A.’s holdings in Broadridge Financial Solutions were worth $92,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. New England Research & Management Inc. acquired a new position in Broadridge Financial Solutions during the 1st quarter worth $1,465,000. Transform Wealth LLC lifted its position in shares of Broadridge Financial Solutions by 6.2% during the first quarter. Transform Wealth LLC now owns 39,098 shares of the business services provider’s stock worth $8,040,000 after purchasing an additional 2,290 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Broadridge Financial Solutions by 86.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 29,814 shares of the business services provider’s stock worth $6,108,000 after purchasing an additional 13,851 shares in the last quarter. Brookstone Capital Management acquired a new stake in Broadridge Financial Solutions during the first quarter valued at approximately $253,000. Finally, Peak Financial Advisors LLC bought a new position in Broadridge Financial Solutions during the 1st quarter worth approximately $2,824,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $197.00 on Friday. The business has a 50 day simple moving average of $198.10 and a 200 day simple moving average of $199.96. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39. The firm has a market capitalization of $23.28 billion, a price-to-earnings ratio of 33.62 and a beta of 1.03. Broadridge Financial Solutions, Inc. has a 12-month low of $161.33 and a 12-month high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Wednesday, May 8th. The business services provider reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the business earned $2.05 EPS. Broadridge Financial Solutions’s revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.20 dividend on an annualized basis and a yield of 1.62%. Broadridge Financial Solutions’s payout ratio is presently 54.61%.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 2,500 shares of the business’s stock in a transaction 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 approximately $1,875,944.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Robert N. Duelks sold 3,473 shares of the stock in a transaction that occurred on 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 owns 22,588 shares in the company, valued at $4,473,779.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 completion of the sale, the vice president now owns 9,361 shares of the company’s stock, valued at $1,875,944.40. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and set a $239.00 price objective on shares of Broadridge Financial Solutions in a research note on Friday. Evercore ISI reaffirmed an “outperform” rating and set a $230.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. DA Davidson reissued a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Finally, StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadridge Financial Solutions has an average rating of “Hold” and an average price target of $206.67.

About Broadridge Financial Solutions

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.