Broadridge Financial Solutions, Inc. $BR Stock Position Lifted by Blue Trust Inc.

Blue Trust Inc. boosted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 12.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,236 shares of the business services provider’s stock after purchasing an additional 140 shares during the period. Blue Trust Inc.’s holdings in Broadridge Financial Solutions were worth $300,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Brighton Jones LLC bought a new stake in Broadridge Financial Solutions in the fourth quarter worth approximately $580,000. GAMMA Investing LLC grew its position in Broadridge Financial Solutions by 28.3% in the first quarter. GAMMA Investing LLC now owns 4,083 shares of the business services provider’s stock worth $990,000 after acquiring an additional 901 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Broadridge Financial Solutions by 42.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,933 shares of the business services provider’s stock worth $7,015,000 after acquiring an additional 8,675 shares in the last quarter. Exchange Traded Concepts LLC grew its position in Broadridge Financial Solutions by 12.3% in the first quarter. Exchange Traded Concepts LLC now owns 655 shares of the business services provider’s stock worth $159,000 after acquiring an additional 72 shares in the last quarter. Finally, Trust Point Inc. grew its position in Broadridge Financial Solutions by 4.4% in the first quarter. Trust Point Inc. now owns 1,940 shares of the business services provider’s stock worth $470,000 after acquiring an additional 81 shares in the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on BR. Morgan Stanley boosted their target price on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. UBS Group boosted their price objective on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a “neutral” rating in a research note on Friday, August 8th. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Weiss Ratings restated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Wednesday, October 8th. Finally, Needham & Company LLC upped their target price on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $261.50.

Broadridge Financial Solutions Price Performance

Shares of BR opened at $235.03 on Wednesday. The stock has a market capitalization of $27.43 billion, a P/E ratio of 33.15 and a beta of 0.95. Broadridge Financial Solutions, Inc. has a twelve month low of $208.20 and a twelve month high of $271.91. The company has a 50 day moving average of $249.12 and a 200-day moving average of $242.50. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.04.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. The firm had revenue of $1.05 billion during the quarter. As a group, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th were paid a dividend of $0.975 per share. The ex-dividend date of this dividend was Thursday, September 11th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. This represents a $3.90 annualized dividend and a yield of 1.7%. Broadridge Financial Solutions’s payout ratio is presently 55.01%.

Insider Activity

In other news, President Christopher John Perry sold 7,036 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total value of $1,848,497.92. Following the completion of the transaction, the president owned 48,813 shares of the company’s stock, valued at $12,824,151.36. This represents a 12.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Timothy C. Gokey sold 84,571 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $259.53, for a total transaction of $21,948,711.63. Following the sale, the chief executive officer directly owned 165,634 shares of the company’s stock, valued at $42,986,992.02. This represents a 33.80% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,532 shares of company stock valued at $38,417,208. Insiders own 1.10% of the company’s stock.

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.