Benjamin Edwards Inc. Has $1.21 Million Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Benjamin Edwards Inc. lowered its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 6,118 shares of the business services provider’s stock after selling 166 shares during the period. Benjamin Edwards Inc.’s holdings in Broadridge Financial Solutions were worth $1,205,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position 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 worth $2,866,238,000 after purchasing an additional 39,537 shares during the period. Price T Rowe Associates Inc. MD lifted 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 valued at $853,898,000 after acquiring an additional 28,180 shares during the period. Capital International Investors lifted 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 valued at $627,278,000 after acquiring an additional 7,970 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Broadridge Financial Solutions by 3.0% during 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 acquiring an additional 43,958 shares during the period. Finally, Bahl & Gaynor Inc. lifted its position in shares of 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 acquiring an additional 6,634 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Analyst Ratings Changes

BR has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Royal Bank of Canada boosted their target price on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. 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. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $213.33.

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $208.99 on Friday. The firm has a market capitalization of $24.70 billion, a PE ratio of 35.66 and a beta of 1.05. The firm has a fifty day simple moving average of $210.29 and a two-hundred day simple moving average of $203.28. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a 12 month low of $166.73 and a 12 month high of $223.81.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the business posted $3.21 EPS. Broadridge Financial Solutions’s quarterly revenue was up 5.7% on a year-over-year basis. Analysts forecast that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be paid a $0.88 dividend. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.68%. Broadridge Financial Solutions’s dividend payout ratio is presently 60.07%.

Insider Transactions at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 17,534 shares of the company’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 completion of the sale, the president now owns 50,237 shares in the company, valued at approximately $10,721,078.17. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, President Christopher John Perry sold 17,534 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the transaction, the president now owns 50,237 shares in the company, valued at $10,721,078.17. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Laura Matlin sold 673 shares of the 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 transaction, the vice president now owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. The disclosure for this sale can be found here. Insiders sold a total of 134,386 shares of company stock worth $28,112,824 in the last quarter. 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.