Accurate Wealth Management LLC Takes Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Accurate Wealth Management LLC purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 1,024 shares of the business services provider’s stock, valued at approximately $237,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Curio Wealth LLC bought a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth about $45,000. Northstar Asset Management Inc. purchased a new position in Broadridge Financial Solutions during the fourth quarter valued at approximately $2,750,000. Pinnacle Wealth Management Advisory Group LLC purchased a new position in Broadridge Financial Solutions during the fourth quarter valued at approximately $353,000. Congress Asset Management Co. grew its position in Broadridge Financial Solutions by 1.9% during the fourth quarter. Congress Asset Management Co. now owns 83,799 shares of the business services provider’s stock valued at $18,946,000 after purchasing an additional 1,579 shares in the last quarter. Finally, Lord & Richards Wealth Management LLC purchased a new position in Broadridge Financial Solutions during the fourth quarter valued at approximately $539,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, Director Maura A. Markus sold 3,556 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total value of $864,392.48. Following the transaction, the director now directly owns 30,892 shares in the company, valued at $7,509,227.36. This trade represents a 10.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas P. Carey sold 3,607 shares of the firm’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total value of $855,796.82. Following the sale, the vice president now directly owns 6,077 shares of the company’s stock, valued at approximately $1,441,829.02. This represents a 37.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,116 shares of company stock valued at $4,352,298. 1.30% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Price Performance

Shares of BR opened at $241.01 on Thursday. The company has a market cap of $28.31 billion, a price-to-earnings ratio of 37.72 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a 1-year low of $192.68 and a 1-year high of $247.01. The company’s fifty day simple moving average is $236.57 and its 200 day simple moving average is $235.00. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, beating the consensus estimate of $2.41 by $0.03. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the company earned $2.23 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. On average, research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Thursday, June 12th. Broadridge Financial Solutions’s dividend payout ratio is presently 52.93%.

Analyst Ratings Changes

BR has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Needham & Company LLC assumed coverage on shares of Broadridge Financial Solutions in a research note on Tuesday, May 6th. They issued a “buy” rating and a $300.00 price objective for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $259.00 price objective on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Hold” and an average price target of $250.83.

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.