Avanza Fonder AB Grows Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Avanza Fonder AB boosted its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 17.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,672 shares of the business services provider's stock after buying an additional 1,264 shares during the quarter. Avanza Fonder AB's holdings in Broadridge Financial Solutions were worth $2,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in BR. Brighton Jones LLC purchased a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at about $580,000. Empowered Funds LLC increased its holdings in shares of Broadridge Financial Solutions by 13.3% in the 4th quarter. Empowered Funds LLC now owns 2,797 shares of the business services provider's stock worth $632,000 after buying an additional 329 shares during the last quarter. Savant Capital LLC raised its position in shares of Broadridge Financial Solutions by 7.8% during the 4th quarter. Savant Capital LLC now owns 3,555 shares of the business services provider's stock valued at $804,000 after buying an additional 257 shares in the last quarter. Kentucky Trust Co bought a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth $68,000. Finally, Van ECK Associates Corp grew its position in Broadridge Financial Solutions by 1.3% in the fourth quarter. Van ECK Associates Corp now owns 21,244 shares of the business services provider's stock worth $4,803,000 after acquiring an additional 277 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 5,056 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total transaction of $1,211,164.80. Following the transaction, the insider now owns 21,167 shares in the company, valued at approximately $5,070,554.85. This represents a 19.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Maura A. Markus sold 3,556 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total value of $864,392.48. Following the completion of the sale, the director now directly owns 30,892 shares in the company, valued at approximately $7,509,227.36. The trade was a 10.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,116 shares of company stock valued at $4,352,298 over the last quarter. 1.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Broadridge Financial Solutions Trading Down 0.6%

BR traded down $1.42 during trading on Thursday, hitting $239.76. 388,414 shares of the stock traded hands, compared to its average volume of 524,132. The firm has a market capitalization of $28.16 billion, a P/E ratio of 37.52 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a 12-month low of $192.68 and a 12-month high of $247.01. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a 50-day moving average of $236.57 and a 200 day moving average of $235.00.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, topping analysts' consensus estimates of $2.41 by $0.03. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the business posted $2.23 earnings per share. Broadridge Financial Solutions's revenue for the quarter was up 5.0% on a year-over-year basis. Equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be issued a dividend of $0.88 per share. The ex-dividend date is Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.47%. Broadridge Financial Solutions's dividend payout ratio is presently 52.93%.

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.