Atwater Malick LLC Invests $289,000 in Broadridge Financial Solutions, Inc. (NYSE:BR)

Atwater Malick LLC bought a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,191 shares of the business services provider's stock, valued at approximately $289,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Whipplewood Advisors LLC lifted its position in shares of 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 purchasing an additional 131 shares during the last quarter. Minot DeBlois Advisors LLC bought a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth $34,000. Gen Wealth Partners Inc bought a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth $36,000. Global X Japan Co. Ltd. bought a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth $41,000. Finally, Curio Wealth LLC bought a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth $45,000. 90.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $235.43, for a total value of $22,590,921.08. Following the transaction, the chief executive officer now owns 169,788 shares in the company, valued at $39,973,188.84. The trade was a 36.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maura A. Markus sold 3,556 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total value of $864,392.48. Following the completion of the transaction, the director now owns 30,892 shares in the company, 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. Insiders have sold 114,072 shares of company stock worth $26,943,219 over the last quarter. Insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Stock Up 0.2%

Shares of BR stock traded up $0.56 on Friday, hitting $245.45. The stock had a trading volume of 309,800 shares, compared to its average volume of 523,343. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The business has a 50 day moving average price of $236.24 and a 200 day moving average price of $234.55. The company has a market cap of $28.83 billion, a PE ratio of 38.41 and a beta of 0.98. Broadridge Financial Solutions, Inc. has a one year low of $192.68 and a one year high of $247.57.

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 firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The firm's quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.23 earnings per share. Research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be issued 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 1.43%. Broadridge Financial Solutions's payout ratio is currently 52.93%.

Analysts Set New Price Targets

Several research firms have recently weighed in on BR. Royal Bank of Canada reiterated an "outperform" rating and set a $259.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Needham & Company LLC began coverage on Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a "buy" rating and a $300.00 target price for the company. Finally, Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Broadridge Financial Solutions presently has a consensus 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.