Middleton & Co. Inc. MA Has $3.82 Million Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Middleton & Co. Inc. MA cut its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,370 shares of the business services provider’s stock after selling 690 shares during the quarter. Middleton & Co. Inc. MA’s holdings in Broadridge Financial Solutions were worth $3,816,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BR. Vanguard Group Inc. lifted its stake in shares of Broadridge Financial Solutions by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 13,991,206 shares of the business services provider’s stock valued at $2,866,238,000 after acquiring an additional 39,537 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Broadridge Financial Solutions by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,168,197 shares of the business services provider’s stock valued at $853,898,000 after purchasing an additional 28,180 shares in the last quarter. Capital International Investors grew its holdings in shares of Broadridge Financial Solutions by 0.3% during the first quarter. Capital International Investors now owns 3,061,983 shares of the business services provider’s stock worth $627,278,000 after purchasing an additional 7,970 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Broadridge Financial Solutions by 3.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,496,678 shares of the business services provider’s stock valued at $306,609,000 after buying an additional 43,958 shares during the period. Finally, Bahl & Gaynor Inc. grew its holdings in Broadridge Financial Solutions by 0.6% during the 2nd quarter. Bahl & Gaynor Inc. now owns 1,108,867 shares of the business services provider’s stock worth $218,447,000 after acquiring an additional 6,634 shares during the last quarter. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $208.59 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a twelve month low of $166.73 and a twelve month high of $223.81. The company has a fifty day moving average of $210.13 and a 200-day moving average of $203.25. The firm has a market capitalization of $24.65 billion, a P/E ratio of 35.60 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.01. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.21 earnings per share. As a group, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Thursday, September 12th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s payout ratio is 60.07%.

Insiders Place Their Bets

In other news, VP Laura Matlin sold 673 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of the transaction, the vice president now directly owns 5,530 shares in the company, valued at $1,194,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Timothy C. Gokey sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $209.11, for a total value of $5,227,750.00. Following the transaction, the chief executive officer now owns 200,675 shares in the company, valued at $41,963,149.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Laura Matlin sold 673 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the completion of the sale, the vice president now directly owns 5,530 shares of the company’s stock, valued at $1,194,480. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 134,386 shares of company stock worth $28,112,824. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. raised their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Royal Bank of Canada lifted their price objective on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. DA Davidson reissued a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Finally, StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $213.33.

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.