PFG Investments LLC Acquires 1,438 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

PFG Investments LLC lifted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 48.2% in the third quarter, Holdings Channel.com reports. The fund owned 4,423 shares of the business services provider’s stock after purchasing an additional 1,438 shares during the period. PFG Investments LLC’s holdings in Broadridge Financial Solutions were worth $951,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Broadridge Financial Solutions by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 13,991,206 shares of the business services provider’s stock worth $2,866,238,000 after acquiring an additional 39,537 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Broadridge Financial Solutions by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,168,197 shares of the business services provider’s stock worth $853,898,000 after purchasing an additional 28,180 shares in the last quarter. Capital International Investors lifted its position in Broadridge Financial Solutions by 0.3% during the first quarter. Capital International Investors now owns 3,061,983 shares of the business services provider’s stock valued at $627,278,000 after buying an additional 7,970 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Broadridge Financial Solutions by 3.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,496,678 shares of the business services provider’s stock valued at $306,609,000 after buying an additional 43,958 shares during the period. Finally, Bahl & Gaynor Inc. boosted its holdings in shares of Broadridge Financial Solutions by 0.6% during the 2nd quarter. Bahl & Gaynor Inc. now owns 1,108,867 shares of the business services provider’s stock valued at $218,447,000 after buying an additional 6,634 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Royal Bank of Canada raised their target price on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $213.33.

Broadridge Financial Solutions Stock Down 1.3 %

NYSE:BR opened at $214.03 on Monday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market cap of $25.29 billion, a P/E ratio of 36.52 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a fifty-two week low of $166.73 and a fifty-two week high of $224.32. The firm has a 50-day simple moving average of $213.32 and a two-hundred day simple moving average of $205.66.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly 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 10.73% and a return on equity of 42.77%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the firm earned $3.21 earnings per share. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. Analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a $0.88 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.64%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s payout ratio is currently 60.07%.

Insider Activity

In related news, VP Laura Matlin sold 673 shares of Broadridge Financial Solutions 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 completion of the sale, the vice president now directly owns 5,530 shares in the company, valued at approximately $1,194,480. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Laura Matlin sold 673 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction of $145,368.00. Following the sale, the vice president now owns 5,530 shares of the company’s stock, valued at $1,194,480. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy C. Gokey sold 25,000 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the completion of the sale, the chief executive officer now owns 200,675 shares of the company’s stock, valued at $41,963,149.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 134,386 shares of company stock valued at $28,112,824 over the last ninety days. 1.60% of the stock is currently owned by corporate 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.