Tidal Investments LLC Raises Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Tidal Investments LLC raised its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 99.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 17,707 shares of the business services provider’s stock after buying an additional 8,837 shares during the quarter. Tidal Investments LLC’s holdings in Broadridge Financial Solutions were worth $3,627,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. LifeSteps Financial Inc. acquired a new stake in shares of Broadridge Financial Solutions in the first quarter valued at approximately $32,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $34,000. Manchester Capital Management LLC grew its position in shares of Broadridge Financial Solutions by 57.1% in the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 60 shares during the last quarter. McClarren Financial Advisors Inc. grew its position in shares of Broadridge Financial Solutions by 73.7% in the first quarter. McClarren Financial Advisors Inc. now owns 205 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 87 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in shares of Broadridge Financial Solutions by 157.0% in the first quarter. Lazard Asset Management LLC now owns 275 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 168 shares during the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $239.00 target price on shares of Broadridge Financial Solutions in a research report on Friday, June 28th. DA Davidson restated a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Finally, StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, July 20th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $206.67.

Broadridge Financial Solutions Stock Down 0.1 %

Shares of NYSE:BR traded down $0.25 during midday trading on Friday, hitting $214.70. 30,037 shares of the company’s stock traded hands, compared to its average volume of 500,749. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.39 and a current ratio of 1.39. The company has a market cap of $25.37 billion, a PE ratio of 36.69 and a beta of 1.04. The firm’s fifty day moving average price is $201.49 and its two-hundred day moving average price is $200.85. Broadridge Financial Solutions, Inc. has a twelve month low of $164.99 and a twelve month high of $216.86.

Broadridge Financial Solutions (NYSE:BR) last issued 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 analyst estimates of $1.77 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 14th were issued a $0.80 dividend. The ex-dividend date was Friday, June 14th. This represents a $3.20 dividend on an annualized basis and a yield of 1.49%. Broadridge Financial Solutions’s dividend payout ratio is currently 54.61%.

Insiders Place Their Bets

In other Broadridge Financial Solutions 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 value of $687,862.38. Following the transaction, the director now owns 22,588 shares in the company, valued at approximately $4,473,779.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Thomas P. Carey sold 2,500 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $200.40, for a total value of $501,000.00. Following the sale, the vice president now owns 9,361 shares in the company, valued at approximately $1,875,944.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert N. Duelks sold 3,473 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total transaction of $687,862.38. Following the completion of the sale, the director now owns 22,588 shares in the company, valued at approximately $4,473,779.28. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company 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.