Arkadios Wealth Advisors Makes New $244,000 Investment in Broadridge Financial Solutions, Inc. (NYSE:BR)

Key Points

• Arkadios Wealth Advisors has purchased 1,008 shares of Broadridge Financial Solutions, valued at approximately $244,000, marking increased institutional investment in the company.
• Broadridge Financial Solutions has recently declared a quarterly dividend increase to $0.975 per share, reflecting an annualized dividend of $3.90 and a yield of 1.5%.
• Analyst reports indicate strong growth potential for Broadridge, with price targets set between $259.00 and $305.00 and a consensus rating of "Hold" from multiple analysts.

Arkadios Wealth Advisors purchased a new position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,008 shares of the business services provider's stock, valued at approximately $244,000.

A number of other hedge funds have also made changes to their positions in BR. Harvest Fund Management Co. Ltd raised its stake in shares of Broadridge Financial Solutions by 193.1% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 982 shares of the business services provider's stock worth $238,000 after purchasing an additional 647 shares in the last quarter. Federated Hermes Inc. increased its holdings in Broadridge Financial Solutions by 68.7% in the first quarter. Federated Hermes Inc. now owns 43,397 shares of the business services provider's stock worth $10,522,000 after buying an additional 17,672 shares during the last quarter. TCTC Holdings LLC raised its position in Broadridge Financial Solutions by 1.1% during the first quarter. TCTC Holdings LLC now owns 6,047 shares of the business services provider's stock valued at $1,466,000 after acquiring an additional 68 shares in the last quarter. Norden Group LLC raised its position in Broadridge Financial Solutions by 2.6% during the first quarter. Norden Group LLC now owns 1,852 shares of the business services provider's stock valued at $449,000 after acquiring an additional 47 shares in the last quarter. Finally, Prosperity Consulting Group LLC acquired a new stake in Broadridge Financial Solutions in the first quarter valued at approximately $209,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Broadridge Financial Solutions

In other news, Director Pamela L. Carter sold 4,829 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $242.23, for a total transaction of $1,169,728.67. Following the transaction, the director owned 7,242 shares of the company's stock, valued at $1,754,229.66. This represents a 40.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Maura A. Markus sold 3,556 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total value of $864,392.48. Following the completion of the transaction, the director owned 30,892 shares in the company, valued at approximately $7,509,227.36. This represents a 10.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,048 shares of company stock worth $4,101,083. Company insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BR shares. Royal Bank Of Canada restated an "outperform" rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Needham & Company LLC increased their target price on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a research report on Wednesday. UBS Group boosted their price target on Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a "neutral" rating in a research report on Friday. Morgan Stanley upped their price target on Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Finally, Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $261.50.

Broadridge Financial Solutions Price Performance

NYSE BR traded down $0.29 during trading hours on Friday, reaching $266.19. 536,088 shares of the company's stock were exchanged, compared to its average volume of 585,513. The firm has a fifty day moving average of $243.20 and a 200-day moving average of $238.72. Broadridge Financial Solutions, Inc. has a one year low of $206.29 and a one year high of $271.91. The stock has a market cap of $31.18 billion, a PE ratio of 37.54 and a beta of 0.94. The company has a current ratio of 0.98, a quick ratio of 1.32 and a debt-to-equity ratio of 1.04.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The business services provider reported $3.55 EPS for the quarter, topping analysts' consensus estimates of $3.51 by $0.04. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.06 billion. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. The company's revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.50 EPS. On average, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Thursday, September 11th will be given a $0.975 dividend. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.88. The ex-dividend date is Thursday, September 11th. This represents a $3.90 annualized dividend and a yield of 1.5%. Broadridge Financial Solutions's dividend payout ratio is presently 49.65%.

Broadridge Financial Solutions Company 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.