Tidal Investments LLC Purchases 8,837 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Tidal Investments LLC grew its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 99.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,707 shares of the business services provider’s stock after purchasing an additional 8,837 shares during the period. Tidal Investments LLC’s holdings in Broadridge Financial Solutions were worth $3,627,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New England Research & Management Inc. purchased a new stake in shares of Broadridge Financial Solutions in the 1st quarter valued at about $1,465,000. International Assets Investment Management LLC purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at about $227,750,000. Bank of Nova Scotia raised its holdings in shares of Broadridge Financial Solutions by 642.3% during the 4th quarter. Bank of Nova Scotia now owns 81,202 shares of the business services provider’s stock valued at $16,707,000 after buying an additional 70,263 shares in the last quarter. Crown Oak Advisors LLC purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at about $7,032,000. Finally, UBS Group AG raised its holdings in shares of Broadridge Financial Solutions by 8.2% during the 4th quarter. UBS Group AG now owns 186,444 shares of the business services provider’s stock valued at $38,361,000 after buying an additional 14,147 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insider Transactions at Broadridge Financial Solutions

In related news, Director Robert N. Duelks sold 3,473 shares of Broadridge Financial Solutions stock in a transaction on 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 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 Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Robert N. Duelks sold 3,473 shares of Broadridge Financial Solutions stock in a transaction on 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 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas P. Carey sold 2,500 shares of Broadridge Financial Solutions stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.40, for a total value of $501,000.00. Following the completion of the sale, the vice president now directly owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Stock Down 0.1 %

Shares of NYSE BR traded down $0.25 during mid-day trading on Friday, hitting $214.70. 30,037 shares of the stock traded hands, compared to its average volume of 500,749. 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, Inc. has a 52 week low of $164.99 and a 52 week high of $216.86. The company has a market cap of $25.37 billion, a price-to-earnings ratio of 36.69 and a beta of 1.04. The stock has a fifty day moving average price of $201.49 and a 200-day moving average price of $200.85.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Wednesday, May 8th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the firm posted $2.05 EPS. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. Research analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared 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 1.49%. The ex-dividend date of this dividend was Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio is currently 54.61%.

Analyst Ratings Changes

BR has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $239.00 price objective on shares of Broadridge Financial Solutions in a research report on Friday, June 28th. DA Davidson reiterated a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Finally, StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, July 20th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.