Chancellor Financial Group WB LP Acquires New Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Chancellor Financial Group WB LP purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,739 shares of the business services provider's stock, valued at approximately $393,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC boosted its holdings in Broadridge Financial Solutions by 4.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 20,258 shares of the business services provider's stock worth $4,580,000 after acquiring an additional 865 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at about $9,385,000. Menard Financial Group LLC lifted its position in shares of Broadridge Financial Solutions by 4.4% during the fourth quarter. Menard Financial Group LLC now owns 4,086 shares of the business services provider's stock valued at $924,000 after purchasing an additional 172 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Broadridge Financial Solutions during the fourth quarter worth about $25,233,000. Finally, Pinnacle Wealth Planning Services Inc. boosted its holdings in Broadridge Financial Solutions by 16.6% during the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 1,294 shares of the business services provider's stock worth $293,000 after purchasing an additional 184 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BR shares. JPMorgan Chase & Co. increased their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. UBS Group upped their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Morgan Stanley lifted their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an "equal weight" rating in a report on Monday, February 3rd. Royal Bank of Canada reissued an "outperform" rating and issued a $259.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Finally, Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $250.83.

Insider Activity

In related news, insider Douglas Richard Deschutter sold 5,056 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $239.55, for a total value of $1,211,164.80. Following the completion of the transaction, the insider now directly owns 21,167 shares of the company's stock, valued at approximately $5,070,554.85. This trade represents a 19.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Christopher John Perry sold 22,357 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the completion of the transaction, the president now owns 52,524 shares of the company's stock, valued at $12,355,220.52. This represents a 29.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 132,873 shares of company stock valued at $31,337,863 in the last 90 days. Insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Stock Performance

BR traded up $2.89 during midday trading on Friday, reaching $242.61. The company had a trading volume of 1,379,327 shares, compared to its average volume of 523,871. Broadridge Financial Solutions, Inc. has a 12-month low of $192.68 and a 12-month high of $247.01. The business has a 50-day moving average price of $235.89 and a two-hundred day moving average price of $234.19. The stock has a market cap of $28.50 billion, a PE ratio of 37.97 and a beta of 0.98. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, topping 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 company had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter in the previous year, the firm posted $2.23 EPS. Broadridge Financial Solutions's revenue was up 5.0% on a year-over-year basis. On average, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.45%. Broadridge Financial Solutions's payout ratio is presently 52.93%.

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.