Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Purchased by MGB Wealth Management LLC

MGB Wealth Management LLC lifted its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 10.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 3,455 shares of the business services provider’s stock after acquiring an additional 320 shares during the quarter. MGB Wealth Management LLC’s holdings in Broadridge Financial Solutions were worth $708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in BR. Confluence Investment Management LLC acquired a new position in Broadridge Financial Solutions during the first quarter worth $144,033,000. APG Asset Management US Inc. acquired a new position in Broadridge Financial Solutions during the fourth quarter worth $70,498,000. Norges Bank acquired a new position in Broadridge Financial Solutions during the fourth quarter worth $67,605,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Broadridge Financial Solutions by 28.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,452,720 shares of the business services provider’s stock worth $286,360,000 after acquiring an additional 323,051 shares during the period. Finally, Veritas Investment Partners UK Ltd. raised its position in Broadridge Financial Solutions by 16.9% during the fourth quarter. Veritas Investment Partners UK Ltd. now owns 1,020,533 shares of the business services provider’s stock worth $210,031,000 after acquiring an additional 147,293 shares during the period. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Trading Up 1.4 %

BR stock traded up $2.84 during mid-day trading on Friday, hitting $206.31. 65,886 shares of the company were exchanged, compared to its average volume of 502,507. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $24.38 billion, a P/E ratio of 34.72 and a beta of 1.04. The business has a fifty day simple moving average of $199.07 and a 200-day simple moving average of $200.20. Broadridge Financial Solutions, Inc. has a 12-month low of $164.99 and a 12-month high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.24 by ($0.01). Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period last year, the business earned $2.05 EPS. The company’s quarterly revenue was up 4.9% 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 fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 14th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Friday, June 14th. Broadridge Financial Solutions’s payout ratio is 54.61%.

Insider Activity

In other news, VP Thomas P. Carey sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.40, for a total value of $501,000.00. Following the completion of the transaction, the vice president now owns 9,361 shares of the company’s stock, valued at $1,875,944.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Robert N. Duelks sold 3,473 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total value of $687,862.38. Following the sale, the director now owns 22,588 shares of the company’s stock, valued at $4,473,779.28. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Thomas P. Carey sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.40, for a total transaction of $501,000.00. Following the completion of the sale, the vice president now directly owns 9,361 shares in the company, valued at approximately $1,875,944.40. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

BR has been the subject of a number of research analyst reports. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $239.00 target price on shares of Broadridge Financial Solutions in a research report on Friday, June 28th. DA Davidson reissued a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Finally, Evercore ISI reissued an “outperform” rating and issued a $230.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $206.67.

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.