Allen Capital Group LLC Acquires 2,156 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Allen Capital Group LLC lifted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 15.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,186 shares of the business services provider's stock after purchasing an additional 2,156 shares during the period. Allen Capital Group LLC's holdings in Broadridge Financial Solutions were worth $3,925,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Victory Capital Management Inc. raised its stake in shares of Broadridge Financial Solutions by 55.1% during the 1st quarter. Victory Capital Management Inc. now owns 75,544 shares of the business services provider's stock worth $18,316,000 after purchasing an additional 26,844 shares in the last quarter. Bryn Mawr Capital Management LLC raised its stake in shares of Broadridge Financial Solutions by 2.8% during the 1st quarter. Bryn Mawr Capital Management LLC now owns 22,935 shares of the business services provider's stock worth $5,561,000 after purchasing an additional 622 shares in the last quarter. Bridgewater Advisors Inc. bought a new stake in shares of Broadridge Financial Solutions during the 1st quarter worth approximately $842,000. Larson Financial Group LLC raised its stake in shares of Broadridge Financial Solutions by 275.0% during the 1st quarter. Larson Financial Group LLC now owns 1,020 shares of the business services provider's stock worth $247,000 after purchasing an additional 748 shares in the last quarter. Finally, PAX Financial Group LLC bought a new stake in shares of Broadridge Financial Solutions during the 1st quarter worth approximately $213,000. Institutional investors own 90.03% of the company's stock.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Pamela L. Carter sold 4,829 shares of the stock in a transaction dated 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas Richard Deschutter sold 5,056 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total value of $1,211,164.80. Following the transaction, the insider owned 21,167 shares of the company's stock, valued at $5,070,554.85. This trade represents a 19.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,116 shares of company stock valued at $4,352,298. 1.30% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Price Performance

NYSE:BR traded up $1.18 during trading hours on Wednesday, hitting $234.93. The company's stock had a trading volume of 428,522 shares, compared to its average volume of 528,792. The stock has a fifty day simple moving average of $239.69 and a 200-day simple moving average of $236.24. The company has a market capitalization of $27.59 billion, a P/E ratio of 35.33 and a beta of 0.94. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.32 and a quick ratio of 1.32. Broadridge Financial Solutions, Inc. has a twelve month low of $200.63 and a twelve month high of $247.01.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.03. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. Broadridge Financial Solutions's revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm posted $2.23 earnings per share. On average, analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th were given a $0.88 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $3.52 annualized dividend and a yield of 1.50%. Broadridge Financial Solutions's dividend payout ratio is presently 52.93%.

Analyst Ratings Changes

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