Rehmann Capital Advisory Group Has $406,000 Position in Broadridge Financial Solutions, Inc. $BR

Rehmann Capital Advisory Group grew its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 9.9% during the second quarter, Holdings Channel.com reports. The firm owned 1,669 shares of the business services provider’s stock after acquiring an additional 150 shares during the period. Rehmann Capital Advisory Group’s holdings in Broadridge Financial Solutions were worth $406,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. ORG Partners LLC boosted its stake in Broadridge Financial Solutions by 360.0% in the second quarter. ORG Partners LLC now owns 115 shares of the business services provider’s stock worth $28,000 after purchasing an additional 90 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in Broadridge Financial Solutions in the first quarter worth $29,000. Continuum Advisory LLC boosted its stake in Broadridge Financial Solutions by 48.4% in the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider’s stock worth $34,000 after purchasing an additional 46 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its stake in Broadridge Financial Solutions by 450.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider’s stock worth $35,000 after purchasing an additional 117 shares in the last quarter. Finally, Olde Wealth Management LLC acquired a new position in Broadridge Financial Solutions in the first quarter worth $36,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Analysts Set New Price Targets

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

Broadridge Financial Solutions Trading Down 0.4%

NYSE:BR opened at $232.09 on Friday. Broadridge Financial Solutions, Inc. has a 1-year low of $208.20 and a 1-year high of $271.91. The business’s 50-day moving average price is $244.52 and its two-hundred day moving average price is $242.18. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $27.09 billion, a price-to-earnings ratio of 32.73 and a beta of 0.95.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share for the quarter. The firm had revenue of $1.05 billion for the quarter. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%. On average, equities analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Thursday, September 11th were given a $0.975 dividend. The ex-dividend date was Thursday, September 11th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.7%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. Broadridge Financial Solutions’s dividend payout ratio is 55.01%.

Insider Buying and Selling

In related news, President Christopher John Perry sold 7,036 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total value of $1,848,497.92. Following the sale, the president directly owned 48,813 shares in the company, valued at $12,824,151.36. This trade represents a 12.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Timothy C. Gokey sold 5,674 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $258.37, for a total transaction of $1,465,991.38. Following the completion of the sale, the chief executive officer owned 143,285 shares in the company, valued at $37,020,545.45. This represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,532 shares of company stock worth $38,417,208 over the last quarter. 1.10% of the stock is currently owned by corporate insiders.

About Broadridge Financial Solutions

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.