Edgestream Partners L.P. Has $2.49 Million Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Edgestream Partners L.P. grew its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 52.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,270 shares of the business services provider’s stock after buying an additional 3,553 shares during the quarter. Edgestream Partners L.P.’s holdings in Broadridge Financial Solutions were worth $2,490,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in shares of Broadridge Financial Solutions in the first quarter valued at approximately $29,000. Whipplewood Advisors LLC increased its stake in Broadridge Financial Solutions by 2,620.0% during the 1st quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 131 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new position in shares of Broadridge Financial Solutions in the fourth quarter worth approximately $34,000. Continuum Advisory LLC raised its position in shares of Broadridge Financial Solutions by 48.4% during the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider’s stock valued at $34,000 after buying an additional 46 shares during the last quarter. Finally, Gen Wealth Partners Inc bought a new stake in shares of Broadridge Financial Solutions during the fourth quarter valued at approximately $36,000. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock opened at $237.36 on Friday. The business has a 50 day simple moving average of $239.72 and a 200 day simple moving average of $236.32. Broadridge Financial Solutions, Inc. has a one year low of $200.63 and a one year high of $247.01. The company has a market capitalization of $27.88 billion, a PE ratio of 35.69 and a beta of 0.94. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.32 and a quick ratio of 1.32.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.03. Broadridge Financial Solutions had a net margin of 11.65% and a return on equity of 44.82%. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period last year, the firm posted $2.23 earnings per share. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.48%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 52.93%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BR. Needham & Company LLC began coverage on shares of Broadridge Financial Solutions in a report on Tuesday, May 6th. They set a “buy” rating and a $300.00 price objective on the stock. Wall Street Zen upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Broadridge Financial Solutions has an average rating of “Hold” and a consensus target price of $250.83.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, Director Maura A. Markus sold 3,556 shares of the firm’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total transaction of $864,392.48. Following the completion of the transaction, the director directly owned 30,892 shares of the company’s stock, 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 hyperlink. Also, insider Douglas Richard Deschutter sold 5,056 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total value of $1,211,164.80. Following the completion of the transaction, the insider owned 21,167 shares in the company, valued at $5,070,554.85. The trade was a 19.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,116 shares of company stock valued at $4,352,298 over the last ninety days. 1.30% of the stock is owned by corporate insiders.

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.