Vanguard Group Inc. Grows Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Vanguard Group Inc. raised its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,991,206 shares of the business services provider’s stock after acquiring an additional 39,537 shares during the period. Vanguard Group Inc. owned approximately 11.88% of Broadridge Financial Solutions worth $2,866,238,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Confluence Investment Management LLC purchased a new position in shares of Broadridge Financial Solutions in the 1st quarter valued at about $144,033,000. APG Asset Management US Inc. acquired a new stake in Broadridge Financial Solutions during the 4th quarter valued at $70,498,000. Norges Bank purchased a new position in Broadridge Financial Solutions during the fourth quarter worth $67,605,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Broadridge Financial Solutions by 28.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,452,720 shares of the business services provider’s stock worth $286,360,000 after buying an additional 323,051 shares in the last quarter. Finally, Veritas Investment Partners UK Ltd. lifted its position in shares of Broadridge Financial Solutions by 16.9% in the fourth quarter. Veritas Investment Partners UK Ltd. now owns 1,020,533 shares of the business services provider’s stock valued at $210,031,000 after acquiring an additional 147,293 shares in the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Trading Down 1.4 %

Shares of BR stock traded down $2.93 on Friday, reaching $201.89. 590,978 shares of the stock were exchanged, compared to its average volume of 439,896. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. The stock has a market cap of $23.86 billion, a P/E ratio of 34.45 and a beta of 1.04. The firm has a 50 day moving average of $200.23 and a two-hundred day moving average of $200.30. Broadridge Financial Solutions, Inc. has a 1-year low of $164.99 and a 1-year high of $211.68.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Wednesday, May 8th. The business services provider reported $2.23 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the business earned $2.05 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 14th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio is presently 54.61%.

Wall Street Analyst Weigh In

BR has been the subject of several analyst reports. Evercore ISI reissued an “outperform” rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday. DA Davidson reaffirmed a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $239.00 price target on shares of Broadridge Financial Solutions in a report on Friday, June 28th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $206.67.

Insider Activity at Broadridge Financial Solutions

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

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.