LVW Advisors LLC Raises Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

LVW Advisors LLC grew its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 16.5% in the second quarter, Holdings Channel reports. The firm owned 2,572 shares of the business services provider’s stock after acquiring an additional 365 shares during the period. LVW Advisors LLC’s holdings in Broadridge Financial Solutions were worth $507,000 at the end of the most recent quarter.

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

Broadridge Financial Solutions Price Performance

BR stock traded down $1.92 during midday trading on Tuesday, reaching $209.23. The stock had a trading volume of 82,612 shares, compared to its average volume of 510,738. Broadridge Financial Solutions, Inc. has a 52-week low of $166.73 and a 52-week high of $223.81. The company has a market cap of $24.73 billion, a price-to-earnings ratio of 35.84 and a beta of 1.04. The company’s fifty day simple moving average is $203.94 and its 200 day simple moving average is $201.36. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55.

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

Broadridge Financial Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued 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 1.68%. The ex-dividend date is Thursday, September 12th. Broadridge Financial Solutions’s payout ratio is 60.07%.

Wall Street Analyst Weigh In

BR has been the topic of several research reports. DA Davidson reiterated a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, July 20th. JPMorgan Chase & Co. upped their price objective on Broadridge Financial Solutions from $213.00 to $224.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada upped their price objective on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $213.17.

Insider Activity at Broadridge Financial Solutions

In related news, VP Laura Matlin sold 673 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the sale, the vice president now directly owns 5,530 shares in the company, valued at approximately $1,194,480. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, 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 transaction of $501,000.00. Following the completion of the transaction, the vice president now directly owns 9,361 shares of the company’s stock, valued at $1,875,944.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Laura Matlin sold 673 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $216.00, for a total value of $145,368.00. Following the transaction, the vice president now directly owns 5,530 shares of the company’s stock, valued at $1,194,480. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,646 shares of company stock worth $1,334,230. 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.