Vanguard Group Inc. Has $2.87 Billion Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Vanguard Group Inc. increased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,991,206 shares of the business services provider’s stock after acquiring an additional 39,537 shares during the quarter. Vanguard Group Inc. owned about 0.12% of Broadridge Financial Solutions worth $2,866,238,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Broadridge Financial Solutions by 3.0% in the 1st 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 purchasing an additional 43,958 shares during the period. Bahl & Gaynor Inc. lifted its stake 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 valued at $222,665,000 after buying an additional 14,005 shares during the period. Veritas Investment Partners UK Ltd. boosted its holdings 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 buying an additional 147,293 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Broadridge Financial Solutions by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 880,395 shares of the business services provider’s stock worth $181,142,000 after buying an additional 33,101 shares during the period. Finally, California Public Employees Retirement System increased its stake in shares of Broadridge Financial Solutions by 0.5% in the 4th quarter. California Public Employees Retirement System now owns 733,194 shares of the business services provider’s stock valued at $150,855,000 after acquiring an additional 3,840 shares during the last quarter. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Down 1.4 %

NYSE BR traded down $2.93 on Friday, reaching $201.89. The company had a trading volume of 590,978 shares, compared to its average volume of 439,896. The company’s fifty day moving average is $200.23 and its 200-day moving average is $200.30. Broadridge Financial Solutions, Inc. has a 1-year low of $164.99 and a 1-year high of $211.68. The firm has a market capitalization of $23.86 billion, a price-to-earnings ratio of 34.45 and a beta of 1.04. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.39 and a current ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data 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). The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.05 earnings per share. On average, research analysts forecast 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 given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio is presently 54.61%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

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

Broadridge Financial Solutions 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.