Gulf International Bank UK Ltd Acquires 128 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Gulf International Bank UK Ltd lifted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,861 shares of the business services provider’s stock after purchasing an additional 128 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Broadridge Financial Solutions were worth $1,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BR. LifeSteps Financial Inc. purchased a new stake in Broadridge Financial Solutions during the 1st quarter valued at $32,000. Stuart Chaussee & Associates Inc. purchased a new position in Broadridge Financial Solutions in the fourth quarter worth about $34,000. Manchester Capital Management LLC grew its stake in shares of 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 valued at $34,000 after purchasing an additional 60 shares during the period. New Covenant Trust Company N.A. bought a new position in shares of Broadridge Financial Solutions in the 1st quarter worth approximately $34,000. Finally, McClarren Financial Advisors Inc. boosted its holdings 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 worth $42,000 after buying an additional 87 shares during the last quarter. 90.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, July 20th. JPMorgan Chase & Co. boosted their price target on Broadridge Financial Solutions from $213.00 to $224.00 and gave the company a “neutral” rating in a report on Wednesday. DA Davidson reaffirmed a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Finally, Royal Bank of Canada increased their target price on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $213.17.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR traded up $5.55 during midday trading on Thursday, reaching $217.46. 157,083 shares of the company were exchanged, compared to its average volume of 511,710. The stock has a market cap of $25.70 billion, a PE ratio of 36.16 and a beta of 1.04. Broadridge Financial Solutions, Inc. has a one year low of $166.73 and a one year high of $223.81. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55. The business’s fifty day moving average is $203.03 and its two-hundred day moving average is $201.25.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the firm posted $3.21 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be paid a dividend of $0.88 per share. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, September 12th. Broadridge Financial Solutions’s payout ratio is presently 54.61%.

Insiders Place Their Bets

In other news, 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 completion of the sale, 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 Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Robert N. Duelks sold 3,473 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas P. Carey sold 2,500 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,875,944.40. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Broadridge Financial Solutions Company 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.