20,864 Shares in Broadridge Financial Solutions, Inc. (NYSE:BR) Bought by Liberty Wealth Management LLC

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 purchased a new position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 20,864 shares of the business services provider's stock, valued at approximately $5,059,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. D.A. Davidson & CO. acquired a new stake in Broadridge Financial Solutions during the 1st quarter worth $217,000. CWA Asset Management Group LLC boosted its stake in Broadridge Financial Solutions by 6.8% during the 1st quarter. CWA Asset Management Group LLC now owns 1,370 shares of the business services provider's stock worth $332,000 after purchasing an additional 87 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Broadridge Financial Solutions during the 1st quarter valued at about $29,000. Sequoia Financial Advisors LLC grew its holdings in shares of Broadridge Financial Solutions by 9.6% in the first quarter. Sequoia Financial Advisors LLC now owns 1,153 shares of the business services provider's stock valued at $279,000 after purchasing an additional 101 shares during the period. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Broadridge Financial Solutions by 12.3% in the first quarter. Exchange Traded Concepts LLC now owns 655 shares of the business services provider's stock valued at $159,000 after purchasing an additional 72 shares during the period. Institutional investors and hedge funds own 90.03% of the company's stock.

Broadridge Financial Solutions Trading Down 1.2%

NYSE BR opened at $244.61 on Friday. The firm's 50-day moving average is $241.40 and its two-hundred day moving average is $237.92. Broadridge Financial Solutions, Inc. has a 12 month low of $206.29 and a 12 month high of $257.65. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market capitalization of $28.73 billion, a P/E ratio of 36.78 and a beta of 0.94.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its earnings results 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 11.65% and a return on equity of 44.82%. 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 prior year, the company posted $2.23 earnings per share. Broadridge Financial Solutions's revenue for the quarter was up 5.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio is currently 52.93%.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, Director Maura A. Markus sold 3,556 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total transaction of $864,392.48. Following the sale, the director owned 30,892 shares of the company's stock, valued at approximately $7,509,227.36. This represents a 10.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas P. Carey sold 3,607 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $237.26, for a total transaction of $855,796.82. Following the sale, the vice president directly owned 6,077 shares in the company, valued at $1,441,829.02. This represents a 37.25% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,116 shares of company stock valued at $4,352,298. Corporate insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BR. Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Royal Bank Of Canada reissued an "outperform" rating and issued a $259.00 price objective on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Finally, Needham & Company LLC began coverage on shares of Broadridge Financial Solutions in a report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price objective for the company. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Broadridge Financial Solutions currently has an average rating of "Hold" and an average target price of $250.83.

About Broadridge Financial Solutions

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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