Ameriprise Financial Inc. Purchases 3,177 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Ameriprise Financial Inc. increased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 152,813 shares of the business services provider's stock after purchasing an additional 3,177 shares during the period. Ameriprise Financial Inc. owned about 0.13% of Broadridge Financial Solutions worth $34,560,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Global X Japan Co. Ltd. acquired a new position in Broadridge Financial Solutions in the fourth quarter worth $41,000. Curio Wealth LLC acquired a new position in Broadridge Financial Solutions in the fourth quarter worth $45,000. Salem Investment Counselors Inc. boosted its stake in Broadridge Financial Solutions by 200.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 225 shares of the business services provider's stock worth $51,000 after purchasing an additional 150 shares in the last quarter. Promus Capital LLC acquired a new position in Broadridge Financial Solutions in the fourth quarter worth $52,000. Finally, Physician Wealth Advisors Inc. acquired a new position in Broadridge Financial Solutions in the fourth quarter worth $52,000. Institutional investors and hedge funds own 90.03% of the company's stock.

Insider Buying and Selling

In other news, VP Thomas P. Carey sold 3,607 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total transaction of $855,796.82. Following the completion of the transaction, the vice president now directly owns 6,077 shares in the company, valued at $1,441,829.02. This represents a 37.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Hope M. Jarkowski sold 1,068 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total transaction of $251,214.96. Following the transaction, the insider now owns 1,070 shares of the company's stock, valued at approximately $251,685.40. This represents a 49.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 123,473 shares of company stock valued at $29,072,366. Company insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Trading Up 0.4%

Shares of Broadridge Financial Solutions stock traded up $1.00 on Friday, hitting $241.32. 475,637 shares of the company's stock traded hands, compared to its average volume of 531,956. The firm's 50-day moving average price is $234.22 and its two-hundred day moving average price is $232.90. The stock has a market capitalization of $28.35 billion, a PE ratio of 37.76 and a beta of 0.98. Broadridge Financial Solutions, Inc. has a one year low of $192.68 and a one year high of $247.01. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, beating analysts' consensus estimates of $2.41 by $0.03. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The business had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter in the prior year, the company earned $2.23 EPS. The firm's quarterly revenue was up 5.0% on a year-over-year basis. On average, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Thursday, June 12th. Broadridge Financial Solutions's payout ratio is presently 52.93%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BR shares. Needham & Company LLC started coverage on Broadridge Financial Solutions in a research note on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price objective on the stock. Royal Bank of Canada raised their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. StockNews.com raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. DA Davidson restated a "neutral" rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Finally, Morgan Stanley raised their price objective on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $250.83.

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.