First Trust Direct Indexing L.P. Raises Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

First Trust Direct Indexing L.P. increased its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,934 shares of the business services provider’s stock after purchasing an additional 69 shares during the period. First Trust Direct Indexing L.P.’s holdings in Broadridge Financial Solutions were worth $604,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BR. Jensen Investment Management Inc. boosted its holdings in Broadridge Financial Solutions by 2.4% in the third quarter. Jensen Investment Management Inc. now owns 1,825,339 shares of the business services provider’s stock worth $326,827,000 after acquiring an additional 43,235 shares in the last quarter. Stifel Financial Corp boosted its holdings in Broadridge Financial Solutions by 1,700.7% in the third quarter. Stifel Financial Corp now owns 1,542,507 shares of the business services provider’s stock worth $276,194,000 after acquiring an additional 1,456,847 shares in the last quarter. Northern Trust Corp boosted its holdings in Broadridge Financial Solutions by 5.6% in the third quarter. Northern Trust Corp now owns 1,322,979 shares of the business services provider’s stock worth $236,879,000 after acquiring an additional 70,258 shares in the last quarter. Bahl & Gaynor Inc. boosted its holdings in Broadridge Financial Solutions by 1.3% in the fourth quarter. Bahl & Gaynor Inc. now owns 1,082,210 shares of the business services provider’s stock worth $222,665,000 after acquiring an additional 14,005 shares in the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of Broadridge Financial Solutions by 0.5% during the fourth quarter. California Public Employees Retirement System now owns 733,194 shares of the business services provider’s stock valued at $150,855,000 after purchasing an additional 3,840 shares in the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BR has been the topic of a number of research analyst reports. Raymond James upped their price target on Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Royal Bank of Canada upped their price target on Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday. Evercore ISI reaffirmed an “outperform” rating and set a $230.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $206.67.

Insider Transactions at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 12,731 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the sale, the vice president now owns 13,303 shares of the company’s stock, valued at approximately $2,674,169.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Douglas Richard Deschutter sold 22,722 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the sale, the insider now owns 44,680 shares of the company’s stock, valued at approximately $8,891,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas P. Carey sold 12,731 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total value of $2,559,185.62. Following the completion of the sale, the vice president now directly owns 13,303 shares in the company, valued at approximately $2,674,169.06. The disclosure for this sale can be found here. Insiders have sold 48,483 shares of company stock valued at $9,745,637 over the last quarter. 1.60% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Stock Up 1.8 %

NYSE BR opened at $198.85 on Monday. The stock’s 50-day moving average price is $200.27 and its 200-day moving average price is $195.29. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.77. Broadridge Financial Solutions, Inc. has a 52 week low of $144.54 and a 52 week high of $210.24. The company has a market capitalization of $23.42 billion, a P/E ratio of 34.64 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, February 1st. The business services provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the company earned $0.91 earnings per share. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 55.75%.

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.