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

Smallwood Wealth Investment Management LLC lifted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 13.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,540 shares of the business services provider’s stock after purchasing an additional 426 shares during the quarter. Broadridge Financial Solutions accounts for approximately 0.5% of Smallwood Wealth Investment Management LLC’s holdings, making the stock its 28th largest position. Smallwood Wealth Investment Management LLC’s holdings in Broadridge Financial Solutions were worth $697,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. New England Research & Management Inc. acquired a new position in Broadridge Financial Solutions in the first quarter worth approximately $1,465,000. Bank of Nova Scotia raised its holdings in 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 worth $16,707,000 after buying an additional 70,263 shares during the period. UBS Group AG lifted its stake in Broadridge Financial Solutions by 8.2% during the fourth 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. International Assets Investment Management LLC acquired a new position in shares of Broadridge Financial Solutions in the fourth quarter worth about $227,750,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Broadridge Financial Solutions by 108.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 83,923 shares of the business services provider’s stock worth $17,192,000 after acquiring an additional 43,710 shares in the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Up 0.3 %

Shares of NYSE BR traded up $0.71 during trading hours on Tuesday, hitting $210.16. The stock had a trading volume of 630,301 shares, compared to its average volume of 525,011. The firm’s 50-day moving average price is $206.40 and its two-hundred day moving average price is $201.85. Broadridge Financial Solutions, Inc. has a 52 week low of $166.73 and a 52 week high of $223.81. The company has a market capitalization of $24.84 billion, a P/E ratio of 35.86 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 earnings results on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, topping the consensus estimate of $3.49 by $0.01. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.21 earnings per share. Analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued a $0.88 dividend. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Thursday, September 12th. Broadridge Financial Solutions’s payout ratio is 60.07%.

Insiders Place Their Bets

In related news, Director Robert N. Duelks sold 3,473 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total transaction of $687,862.38. Following the completion of the sale, the director now directly owns 22,588 shares of the company’s stock, valued at approximately $4,473,779.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 3,473 shares of Broadridge Financial Solutions stock in a transaction that occurred 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 transaction, the director now directly owns 22,588 shares of the company’s stock, valued at approximately $4,473,779.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Leslie A. Brun sold 5,739 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $210.05, for a total transaction of $1,205,476.95. Following the completion of the sale, the director now owns 77,318 shares in the company, valued at approximately $16,240,645.90. The disclosure for this sale can be found here. Insiders sold 98,387 shares of company stock valued at $20,503,110 over the last 90 days. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BR has been the subject of several research analyst reports. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, July 20th. JPMorgan Chase & Co. raised their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. DA Davidson reissued a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Finally, Royal Bank of Canada raised their price objective on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $213.33.

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.