Wealth Enhancement Advisory Services LLC Acquires 13,851 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Wealth Enhancement Advisory Services LLC increased its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 86.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,814 shares of the business services provider’s stock after acquiring an additional 13,851 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Broadridge Financial Solutions were worth $6,108,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. FMR LLC grew its holdings in shares of Broadridge Financial Solutions by 3.9% during the 3rd quarter. FMR LLC now owns 67,216 shares of the business services provider’s stock valued at $12,035,000 after purchasing an additional 2,544 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Broadridge Financial Solutions by 23.7% during the 3rd quarter. Acadian Asset Management LLC now owns 542 shares of the business services provider’s stock valued at $96,000 after purchasing an additional 104 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Broadridge Financial Solutions by 125.7% during the 3rd quarter. Federated Hermes Inc. now owns 1,108 shares of the business services provider’s stock valued at $198,000 after purchasing an additional 617 shares during the last quarter. Algert Global LLC bought a new stake in shares of Broadridge Financial Solutions during the 3rd quarter valued at approximately $225,000. Finally, Trexquant Investment LP grew its holdings in shares of Broadridge Financial Solutions by 287.5% during the 3rd quarter. Trexquant Investment LP now owns 6,169 shares of the business services provider’s stock valued at $1,105,000 after purchasing an additional 4,577 shares during the last quarter. 90.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

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

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $196.56 on Tuesday. The company has a fifty day moving average of $198.15 and a 200-day moving average of $200.02. The firm has a market capitalization of $23.23 billion, a P/E ratio of 33.54 and a beta of 1.04. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a twelve month low of $161.85 and a twelve month high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data 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). The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.05 EPS. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be paid 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 yield of 1.63%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 54.61%.

Wall Street Analyst Weigh In

BR has been the topic of several research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $239.00 price target on shares of Broadridge Financial Solutions in a report on Friday. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Evercore ISI reiterated an “outperform” rating and set a $230.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Finally, DA Davidson reiterated a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $206.67.

Broadridge Financial Solutions Company 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.