Princeton Global Asset Management LLC Has $4.40 Million Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Princeton Global Asset Management LLC boosted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,130 shares of the business services provider’s stock after purchasing an additional 420 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Broadridge Financial Solutions were worth $4,396,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Whipplewood Advisors LLC grew its position in Broadridge Financial Solutions by 2,620.0% in the 1st quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider’s stock worth $33,000 after purchasing an additional 131 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at about $34,000. Gen Wealth Partners Inc bought a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at about $36,000. Global X Japan Co. Ltd. acquired a new stake in Broadridge Financial Solutions during the fourth quarter worth about $41,000. Finally, Curio Wealth LLC acquired a new stake in Broadridge Financial Solutions during the fourth quarter worth about $45,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $245.45 on Friday. Broadridge Financial Solutions, Inc. has a twelve month low of $192.68 and a twelve month high of $247.01. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock has a market cap of $28.83 billion, a P/E ratio of 38.41 and a beta of 0.98. The company’s 50-day simple moving average is $236.25 and its 200 day simple moving average is $234.69.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.03. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the company posted $2.23 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. As a group, 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.43%. The ex-dividend date is Thursday, June 12th. Broadridge Financial Solutions’s dividend payout ratio is 52.93%.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 5,056 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $239.55, for a total value of $1,211,164.80. Following the transaction, the insider now directly owns 21,167 shares in the company, valued at $5,070,554.85. The trade was a 19.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas P. Carey sold 3,607 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $237.26, for a total transaction 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. The trade was a 37.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 114,072 shares of company stock worth $26,943,219 over the last three months. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

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

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.