Brighton Jones LLC Raises Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Brighton Jones LLC lifted its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,173 shares of the business services provider’s stock after buying an additional 52 shares during the period. Brighton Jones LLC’s holdings in Broadridge Financial Solutions were worth $428,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BR. Robeco Institutional Asset Management B.V. grew its holdings in shares of Broadridge Financial Solutions by 206.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 200,371 shares of the business services provider’s stock worth $412,000 after purchasing an additional 134,911 shares during the last quarter. Norges Bank purchased a new position in Broadridge Financial Solutions during the 4th quarter worth approximately $67,605,000. UBS Group AG grew its stake in Broadridge Financial Solutions by 8.2% during the 4th quarter. UBS Group AG now owns 186,444 shares of the business services provider’s stock worth $38,361,000 after buying an additional 14,147 shares during the last quarter. CreativeOne Wealth LLC increased its position in Broadridge Financial Solutions by 10.8% during the fourth quarter. CreativeOne Wealth LLC now owns 1,270 shares of the business services provider’s stock worth $261,000 after buying an additional 124 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in Broadridge Financial Solutions by 27.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 536 shares of the business services provider’s stock valued at $110,000 after buying an additional 114 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Trading Down 0.4 %

NYSE BR opened at $208.22 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $24.61 billion, a P/E ratio of 35.53 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 52-week low of $166.73 and a 52-week high of $223.81. The firm has a 50-day moving average price of $210.46 and a 200 day moving average price of $203.36.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the prior year, the business posted $3.21 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. Equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

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

Insider Transactions at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 17,534 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total value of $3,741,930.94. Following the completion of the sale, the president now owns 50,237 shares in the company, valued at $10,721,078.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 25,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 200,675 shares of the company’s stock, 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, President Christopher John Perry sold 17,534 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total value of $3,741,930.94. Following the transaction, the president now directly owns 50,237 shares of the company’s stock, valued at approximately $10,721,078.17. The disclosure for this sale can be found here. Insiders have sold a total of 134,386 shares of company stock valued at $28,112,824 in the last ninety days. 1.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.