Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Bought by Unique Wealth LLC

Unique Wealth LLC lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,604 shares of the business services provider’s stock after buying an additional 95 shares during the quarter. Unique Wealth LLC’s holdings in Broadridge Financial Solutions were worth $345,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its position in Broadridge Financial Solutions by 0.3% during the first quarter. Vanguard Group Inc. now owns 13,991,206 shares of the business services provider’s stock worth $2,866,238,000 after acquiring an additional 39,537 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Broadridge Financial Solutions by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,168,197 shares of the business services provider’s stock worth $853,898,000 after purchasing an additional 28,180 shares during the last quarter. Capital International Investors raised its position in shares of Broadridge Financial Solutions by 0.3% during the 1st 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. lifted its stake in Broadridge Financial Solutions by 3.0% in the 1st 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 in the last quarter. 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 valued at $218,447,000 after buying an additional 6,634 shares during the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BR has been the subject of a number of analyst reports. Royal Bank of Canada boosted 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. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. boosted their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, DA Davidson reissued a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $213.33.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $215.00 on Friday. The company has a market cap of $25.41 billion, a P/E ratio of 36.69 and a beta of 1.05. The firm’s 50 day moving average is $211.48 and its two-hundred day moving average is $203.89. Broadridge Financial Solutions, Inc. has a fifty-two week low of $166.73 and a fifty-two week high of $223.81. 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 (NYSE:BR) last issued its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the company posted $3.21 EPS. The business’s quarterly revenue was up 5.7% on a year-over-year basis. Analysts expect that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were issued a dividend of $0.88 per share. The ex-dividend date was Thursday, September 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.64%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s payout ratio is presently 60.07%.

Insider Buying and Selling

In other news, President Christopher John Perry sold 17,534 shares of the firm’s stock in a transaction on 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 transaction, the president now owns 50,237 shares of the company’s stock, valued at approximately $10,721,078.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, President Christopher John Perry sold 17,534 shares of the company’s stock in a transaction dated 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 completion of the sale, the president now owns 50,237 shares of the company’s stock, valued at $10,721,078.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Richard J. Daly sold 21,938 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $207.66, for a total value of $4,555,645.08. Following the completion of the sale, the chairman now owns 105,094 shares of the company’s stock, valued at approximately $21,823,820.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,386 shares of company stock valued at $28,112,824. 1.60% of the stock is currently owned by corporate insiders.

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.