1,154 Shares in Broadridge Financial Solutions, Inc. $BR Purchased by Prosperity Financial Group Inc.

Key Points

• Prosperity Financial Group Inc. has acquired 1,154 shares of Broadridge Financial Solutions, Inc., valuing the purchase at approximately $280,000.
• Analysts have upgraded Broadridge Financial Solutions with multiple "buy" ratings, while its average target price now sits at $261.50.
• Broadridge recently increased its quarterly dividend from $0.88 to $0.975, reflecting a robust annualized dividend yield of 1.7%.

Prosperity Financial Group Inc. acquired a new position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,154 shares of the business services provider's stock, valued at approximately $280,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Broadridge Financial Solutions by 3.1% in the first quarter. Vanguard Group Inc. now owns 14,733,147 shares of the business services provider's stock worth $3,572,199,000 after purchasing an additional 438,381 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Broadridge Financial Solutions by 2.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,689,607 shares of the business services provider's stock worth $409,662,000 after purchasing an additional 39,846 shares during the period. Bahl & Gaynor Inc. increased its position in Broadridge Financial Solutions by 3.4% in the first quarter. Bahl & Gaynor Inc. now owns 1,168,351 shares of the business services provider's stock worth $283,278,000 after purchasing an additional 38,527 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Broadridge Financial Solutions by 3.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,076,761 shares of the business services provider's stock worth $261,071,000 after purchasing an additional 33,635 shares during the period. Finally, Ameriprise Financial Inc. increased its position in Broadridge Financial Solutions by 577.9% in the first quarter. Ameriprise Financial Inc. now owns 1,035,938 shares of the business services provider's stock worth $251,513,000 after purchasing an additional 883,125 shares during the period. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BR. Needham & Company LLC boosted their target price on Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. UBS Group boosted their target price on Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Saturday, October 4th. Weiss Ratings restated a "buy (b)" rating on shares of Broadridge Financial Solutions in a research report on Wednesday, October 8th. Finally, Morgan Stanley boosted their target price on Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Broadridge Financial Solutions currently has an average rating of "Hold" and an average target price of $261.50.

Broadridge Financial Solutions Trading Up 0.3%

NYSE:BR opened at $232.97 on Thursday. Broadridge Financial Solutions, Inc. has a fifty-two week low of $208.20 and a fifty-two week high of $271.91. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $27.19 billion, a PE ratio of 32.86 and a beta of 0.95. The business's 50-day simple moving average is $245.06 and its 200-day simple moving average is $242.10.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 earnings per share for the quarter. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%.The business had revenue of $1.05 billion for the quarter. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were issued a dividend of $0.975 per share. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.88. The ex-dividend date was Thursday, September 11th. This represents a $3.90 annualized dividend and a dividend yield of 1.7%. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 55.01%.

Insider Activity

In other Broadridge Financial Solutions news, President Christopher John Perry sold 7,036 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total value of $1,848,497.92. Following the sale, the president owned 48,813 shares in the company, valued at approximately $12,824,151.36. The trade was a 12.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Timothy C. Gokey sold 84,571 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $259.53, for a total value of $21,948,711.63. Following the completion of the sale, the chief executive officer owned 165,634 shares in the company, valued at $42,986,992.02. The trade was a 33.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,532 shares of company stock worth $38,417,208 in the last quarter. 1.10% of the stock is currently owned by company insiders.

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.

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