Nuveen LLC Invests $91.45 Million in Broadridge Financial Solutions, Inc. (NYSE:BR)

Key Points

• Nuveen LLC acquired 377,156 shares of Broadridge Financial Solutions, valued at approximately $91.4 million, representing a 0.32% ownership of the company.
• Broadridge recently announced an increased quarterly dividend of $0.975 per share, up from $0.88, indicating a 1.5% dividend yield.
• Analyst ratings show a mixed outlook, with five analysts giving a hold rating and three issuing a buy rating, while the average target price stands at $261.50.

Nuveen LLC purchased a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 377,156 shares of the business services provider's stock, valued at approximately $91,445,000. Nuveen LLC owned 0.32% of Broadridge Financial Solutions as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in Broadridge Financial Solutions during the first quarter worth about $29,000. Whipplewood Advisors LLC boosted its holdings in Broadridge Financial Solutions by 2,620.0% during the first quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock worth $33,000 after buying an additional 131 shares in the last quarter. Continuum Advisory LLC boosted its holdings in Broadridge Financial Solutions by 48.4% during the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock worth $34,000 after buying an additional 46 shares in the last quarter. Olde Wealth Management LLC purchased a new stake in Broadridge Financial Solutions during the first quarter worth about $36,000. Finally, Minot DeBlois Advisors LLC purchased a new stake in Broadridge Financial Solutions during the fourth quarter worth about $34,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Maura A. Markus sold 3,556 shares of the company's stock in a transaction that occurred 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 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 SEC, which is accessible through this hyperlink. Also, CEO Timothy C. Gokey sold 84,571 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $259.53, for a total transaction of $21,948,711.63. Following the transaction, the chief executive officer directly owned 165,634 shares of the company's stock, valued at $42,986,992.02. This trade represents a 33.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 155,299 shares of company stock valued at $40,196,503 in the last ninety days. 1.30% of the stock is owned by company insiders.

Broadridge Financial Solutions Trading Up 0.5%

Shares of BR traded up $1.19 on Friday, hitting $260.42. 803,783 shares of the stock traded hands, compared to its average volume of 993,782. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $30.50 billion, a P/E ratio of 36.73 and a beta of 0.94. The stock's 50 day moving average is $245.40 and its two-hundred day moving average is $239.80. Broadridge Financial Solutions, Inc. has a 1 year low of $206.95 and a 1 year high of $271.91.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The business services provider reported $3.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.04. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.50 earnings per share. As a group, sell-side analysts predict 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 dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 1.5%. This is a positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Thursday, September 11th. Broadridge Financial Solutions's dividend payout ratio (DPR) is currently 49.65%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BR. UBS Group boosted their price objective on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Needham & Company LLC upped their price target on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $259.00 price target on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Finally, Morgan Stanley upped their price target on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Broadridge Financial Solutions has an average rating of "Hold" and an average target price of $261.50.

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.