Liberty Wealth Management LLC Purchases Shares of 20,864 Broadridge Financial Solutions, Inc. (NYSE:BR)

Key Points

• Liberty Wealth Management LLC purchased 20,864 shares of Broadridge Financial Solutions, valued at approximately $5,059,000, indicating growing institutional interest in the company.
• Broadridge Financial Solutions reported an earnings per share (EPS) of $2.44 for the last quarter, surpassing analyst expectations of $2.41, and showed a revenue increase of 5.0% compared to the previous year.
• The company declared a quarterly dividend of $0.88 per share, reflecting an annualized dividend of $3.52 and a dividend yield of 1.4%.

Liberty Wealth Management LLC bought a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 20,864 shares of the business services provider's stock, valued at approximately $5,059,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in shares of Broadridge Financial Solutions during the first quarter worth approximately $29,000. Whipplewood Advisors LLC lifted its position in shares of Broadridge Financial Solutions by 2,620.0% during the 1st quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock worth $33,000 after buying an additional 131 shares during the period. Minot DeBlois Advisors LLC acquired a new stake in Broadridge Financial Solutions in the 4th quarter valued at $34,000. Continuum Advisory LLC grew its position in Broadridge Financial Solutions by 48.4% in the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock valued at $34,000 after acquiring an additional 46 shares during the period. Finally, Gen Wealth Partners Inc acquired a new position in Broadridge Financial Solutions during the fourth quarter worth $36,000. Institutional investors and hedge funds own 90.03% of the company's stock.

Wall Street Analyst Weigh In

BR has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Morgan Stanley boosted their price objective on Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an "equal weight" rating in a report on Wednesday. Needham & Company LLC lifted their price objective on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $259.00 price target on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Broadridge Financial Solutions has a consensus rating of "Hold" and an average target price of $258.17.

Broadridge Financial Solutions Trading Down 1.0%

NYSE:BR traded down $2.80 on Thursday, reaching $264.09. 597,513 shares of the company's stock were exchanged, compared to its average volume of 581,114. Broadridge Financial Solutions, Inc. has a 52-week low of $206.29 and a 52-week high of $271.91. The business has a fifty day moving average of $242.67 and a 200-day moving average of $238.48. The company has a quick ratio of 1.32, a current ratio of 0.98 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $31.02 billion, a price-to-earnings ratio of 37.41 and a beta of 0.94.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its earnings results 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 company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.06 billion. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%. Broadridge Financial Solutions's quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $3.50 earnings per share. As a group, analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently declared 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 positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.88. The ex-dividend date is Thursday, September 11th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.5%. Broadridge Financial Solutions's dividend payout ratio is 55.01%.

Insider Buying and Selling

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

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.