Broadridge Financial Solutions, Inc. (NYSE:BR) Stake Lifted by Hilton Capital Management LLC

Hilton Capital Management LLC increased its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 46.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 187,710 shares of the business services provider’s stock after acquiring an additional 59,366 shares during the quarter. Broadridge Financial Solutions comprises 2.6% of Hilton Capital Management LLC’s investment portfolio, making the stock its 12th biggest position. Hilton Capital Management LLC’s holdings in Broadridge Financial Solutions were worth $19,464,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in BR. Oribel Capital Management LP acquired a new position in Broadridge Financial Solutions during the 1st quarter worth approximately $14,101,000. Westpac Banking Corp increased its position in Broadridge Financial Solutions by 5.8% during the 1st quarter. Westpac Banking Corp now owns 68,668 shares of the business services provider’s stock worth $7,120,000 after purchasing an additional 3,766 shares in the last quarter. Andra AP fonden acquired a new position in Broadridge Financial Solutions during the 1st quarter worth approximately $8,586,000. Burney Co. increased its position in Broadridge Financial Solutions by 4.9% during the 1st quarter. Burney Co. now owns 20,414 shares of the business services provider’s stock worth $2,117,000 after purchasing an additional 947 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in Broadridge Financial Solutions by 27.1% during the 1st quarter. Lazard Asset Management LLC now owns 270,119 shares of the business services provider’s stock worth $28,008,000 after purchasing an additional 57,524 shares in the last quarter. 84.10% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts recently issued reports on BR shares. Raymond James upgraded shares of Broadridge Financial Solutions from a “market perform” rating to an “outperform” rating and set a $118.00 price objective for the company in a research report on Wednesday, March 13th. DA Davidson cut shares of Broadridge Financial Solutions from a “buy” rating to a “neutral” rating and set a $128.00 price objective for the company. in a research report on Wednesday, May 8th. They noted that the move was a valuation call. SunTrust Banks upped their price objective on shares of Broadridge Financial Solutions to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $122.00 price objective for the company in a research report on Wednesday, April 10th. Finally, ValuEngine upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Broadridge Financial Solutions currently has an average rating of “Buy” and a consensus price target of $126.00.

NYSE BR traded down $0.21 on Friday, hitting $130.94. The company’s stock had a trading volume of 3,067 shares, compared to its average volume of 812,809. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.70 and a current ratio of 1.70. Broadridge Financial Solutions, Inc. has a 1-year low of $91.34 and a 1-year high of $138.24. The stock has a market cap of $15.27 billion, a P/E ratio of 31.25, a price-to-earnings-growth ratio of 2.83 and a beta of 0.77.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, May 7th. The business services provider reported $1.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.10. Broadridge Financial Solutions had a net margin of 11.31% and a return on equity of 48.71%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the company posted $1.00 EPS. The company’s revenue was up 14.3% on a year-over-year basis. Analysts predict that Broadridge Financial Solutions, Inc. will post 4.65 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Friday, June 14th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Thursday, June 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 46.30%.

In other news, VP Laura Matlin sold 3,875 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $118.99, for a total value of $461,086.25. Following the completion of the sale, the vice president now owns 5,988 shares in the company, valued at $712,512.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Thomas P. Carey sold 1,215 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $108.82, for a total transaction of $132,216.30. Following the completion of the sale, the vice president now owns 4,202 shares of the company’s stock, valued at approximately $457,261.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 162,984 shares of company stock worth $20,133,104. 2.30% of the stock is owned by insiders.

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Broadridge Financial Solutions Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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