2,051 Shares in Broadridge Financial Solutions, Inc. (NYSE:BR) Acquired by Bridges Investment Management Inc.

Bridges Investment Management Inc. acquired a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,051 shares of the business services provider’s stock, valued at approximately $404,000.

A number of other hedge funds have also recently bought and sold shares of the company. New England Research & Management Inc. acquired a new position in shares of Broadridge Financial Solutions during the first quarter valued at $1,465,000. Bank of Nova Scotia raised its holdings in Broadridge Financial Solutions by 642.3% during the 4th quarter. Bank of Nova Scotia now owns 81,202 shares of the business services provider’s stock worth $16,707,000 after purchasing an additional 70,263 shares during the last quarter. UBS Group AG lifted its position 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 valued at $38,361,000 after purchasing an additional 14,147 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Broadridge Financial Solutions by 108.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 83,923 shares of the business services provider’s stock valued at $17,192,000 after purchasing an additional 43,710 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of Broadridge Financial Solutions by 99.6% in the 1st quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider’s stock valued at $3,627,000 after purchasing an additional 8,837 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity

In related 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 transaction of $3,741,930.94. Following the sale, the president now directly owns 50,237 shares in the company, valued at $10,721,078.17. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Broadridge Financial Solutions news, VP Laura Matlin sold 673 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was 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 owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Christopher John Perry sold 17,534 shares of Broadridge Financial Solutions stock in a transaction that occurred on 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 sale, the president now owns 50,237 shares in the company, valued at $10,721,078.17. The disclosure for this sale can be found here. Insiders sold 134,386 shares of company stock worth $28,112,824 over the last quarter. 1.60% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Price Performance

Shares of BR stock 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. Broadridge Financial Solutions, Inc. has a 12-month low of $166.73 and a 12-month high of $223.81. The firm has a fifty day moving average of $210.46 and a 200-day moving average of $203.36. The firm has a market capitalization of $24.61 billion, a price-to-earnings ratio of 35.53 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The company’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.21 earnings per share. On average, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share 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 issued a dividend of $0.88 per share. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a yield of 1.69%. The ex-dividend date is Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 60.07%.

Broadridge Financial Solutions 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.