Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Bought by Transform Wealth LLC

Transform Wealth LLC raised its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,098 shares of the business services provider’s stock after purchasing an additional 2,290 shares during the period. Transform Wealth LLC’s holdings in Broadridge Financial Solutions were worth $8,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Headinvest LLC acquired a new stake in Broadridge Financial Solutions in the 3rd quarter valued at about $32,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth about $34,000. Manchester Capital Management LLC grew its stake in Broadridge Financial Solutions by 57.1% during the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock worth $34,000 after buying an additional 60 shares during the last quarter. Truvestments Capital LLC purchased a new position in Broadridge Financial Solutions during the 3rd quarter worth approximately $37,000. Finally, BKM Wealth Management LLC purchased a new position in Broadridge Financial Solutions during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Buying and Selling

In related news, Director Robert N. Duelks sold 3,473 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total value of $687,862.38. Following the transaction, the director now owns 22,588 shares in the company, valued at $4,473,779.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP Thomas P. Carey sold 2,500 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.40, for a total transaction of $501,000.00. Following the sale, the vice president now directly owns 9,361 shares in the company, valued at approximately $1,875,944.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert N. Duelks sold 3,473 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total value of $687,862.38. Following the sale, the director now owns 22,588 shares in the company, valued at $4,473,779.28. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on BR shares. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $239.00 target price on shares of Broadridge Financial Solutions in a research note on Friday. DA Davidson reaffirmed a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $230.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $206.67.

Broadridge Financial Solutions Trading Down 0.5 %

BR stock traded down $1.02 during trading on Friday, reaching $198.19. 127,498 shares of the stock traded hands, compared to its average volume of 507,777. The business’s 50 day moving average price is $198.03 and its 200-day moving average price is $199.87. Broadridge Financial Solutions, Inc. has a 52-week low of $161.33 and a 52-week high of $210.24. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39. The firm has a market capitalization of $23.42 billion, a PE ratio of 33.98 and a beta of 1.03.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.24 by ($0.01). Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the company earned $2.05 EPS. Broadridge Financial Solutions’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, June 14th. Broadridge Financial Solutions’s payout ratio is 54.61%.

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.