Broadridge Financial Solutions, Inc. (NYSE:BR) Holdings Lifted by Transform Wealth LLC

Transform Wealth LLC boosted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,352 shares of the business services provider’s stock after acquiring an additional 618 shares during the quarter. Transform Wealth LLC’s holdings in Broadridge Financial Solutions were worth $8,711,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. EdgeRock Capital LLC bought a new position in shares of Broadridge Financial Solutions in the second quarter valued at $32,000. Rothschild Investment LLC acquired a new position in shares of Broadridge Financial Solutions in the 2nd quarter worth $32,000. New Covenant Trust Company N.A. acquired a new stake in shares of Broadridge Financial Solutions during the first quarter worth $34,000. Family Firm Inc. purchased a new stake in shares of Broadridge Financial Solutions during the second quarter valued at $37,000. Finally, McClarren Financial Advisors Inc. increased its stake in Broadridge Financial Solutions by 65.5% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 197 shares of the business services provider’s stock worth $39,000 after purchasing an additional 78 shares in the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on BR. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, Royal Bank of Canada boosted their target price on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Broadridge Financial Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of $213.33.

Broadridge Financial Solutions Stock Down 0.2 %

Shares of BR stock traded down $0.38 during trading on Wednesday, hitting $221.37. 41,682 shares of the company were exchanged, compared to its average volume of 523,898. The business’s 50-day simple moving average is $212.35 and its 200 day simple moving average is $204.83. Broadridge Financial Solutions, Inc. has a twelve month low of $166.73 and a twelve month high of $224.32. The firm has a market capitalization of $26.16 billion, a price-to-earnings ratio of 37.87 and a beta of 1.05. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the business posted $3.21 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, analysts forecast that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a $0.88 dividend. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio is presently 60.07%.

Insider Transactions at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $209.11, for a total value of $5,227,750.00. Following the transaction, the chief executive officer now owns 200,675 shares in the company, valued at approximately $41,963,149.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total value of $6,540,242.43. Following the completion of the sale, the president now owns 67,215 shares of the company’s stock, valued at $13,938,374.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy C. Gokey sold 25,000 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $209.11, for a total value of $5,227,750.00. Following the sale, the chief executive officer now owns 200,675 shares of the company’s stock, valued at approximately $41,963,149.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,386 shares of company stock valued at $28,112,824 in the last three months. Corporate insiders own 1.60% of the company’s stock.

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.