Pegasus Asset Management Inc. Purchases Shares of 968 Broadridge Financial Solutions, Inc. $BR

Pegasus Asset Management Inc. purchased a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 968 shares of the business services provider’s stock, valued at approximately $235,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ORG Partners LLC increased its stake in Broadridge Financial Solutions by 360.0% during the 2nd quarter. ORG Partners LLC now owns 115 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 90 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in Broadridge Financial Solutions during the 1st quarter valued at $29,000. Continuum Advisory LLC increased its stake in Broadridge Financial Solutions by 48.4% during the 1st quarter. Continuum Advisory LLC now owns 141 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 46 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd grew its stake in shares of Broadridge Financial Solutions by 450.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider’s stock worth $35,000 after acquiring an additional 117 shares in the last quarter. Finally, Olde Wealth Management LLC bought a new stake in shares of Broadridge Financial Solutions in the 1st quarter worth $36,000. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

BR opened at $232.81 on Monday. The firm has a market cap of $27.17 billion, a P/E ratio of 32.84 and a beta of 0.95. The firm has a 50-day moving average of $250.05 and a 200 day moving average of $242.59. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.98 and a current ratio of 0.98. Broadridge Financial Solutions, Inc. has a fifty-two week low of $208.20 and a fifty-two week high of $271.91.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. The business had revenue of $1.05 billion for the quarter. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. On average, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th were issued a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 1.7%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Thursday, September 11th. Broadridge Financial Solutions’s payout ratio is currently 55.01%.

Insider Activity

In other Broadridge Financial Solutions news, President Christopher John Perry sold 7,036 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the sale, the president directly owned 48,813 shares of the company’s stock, valued at $12,824,151.36. This represents a 12.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy C. Gokey sold 5,674 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $258.37, for a total transaction of $1,465,991.38. Following the sale, the chief executive officer directly owned 143,285 shares in the company, valued at approximately $37,020,545.45. This trade represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 147,532 shares of company stock worth $38,417,208. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

BR has been the subject of several recent analyst reports. UBS Group upped their target price on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a “neutral” rating in a research note on Friday, August 8th. Needham & Company LLC upped their target price on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Wednesday, October 8th. Finally, Morgan Stanley increased their price target on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $261.50.

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.