Board of the Pension Protection Fund Purchases 2,600 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Board of the Pension Protection Fund boosted its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 520.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,100 shares of the business services provider's stock after purchasing an additional 2,600 shares during the period. Board of the Pension Protection Fund's holdings in Broadridge Financial Solutions were worth $752,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BR. Price T Rowe Associates Inc. MD lifted its position in shares of Broadridge Financial Solutions by 50.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider's stock worth $804,952,000 after purchasing an additional 1,186,555 shares during the period. GAMMA Investing LLC raised its stake in Broadridge Financial Solutions by 31,011.4% during the first quarter. GAMMA Investing LLC now owns 989,964 shares of the business services provider's stock worth $240,027,000 after buying an additional 986,782 shares during the last quarter. Norges Bank acquired a new position in Broadridge Financial Solutions in the fourth quarter valued at $106,904,000. Raymond James Financial Inc. acquired a new position in Broadridge Financial Solutions in the fourth quarter valued at $104,466,000. Finally, Corient Private Wealth LLC boosted its position in Broadridge Financial Solutions by 882.9% during the fourth quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider's stock valued at $99,186,000 after acquiring an additional 392,695 shares during the last quarter. 90.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Needham & Company LLC assumed coverage on Broadridge Financial Solutions in a research report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price objective for the company. Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $259.00 price target on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Broadridge Financial Solutions currently has an average rating of "Hold" and a consensus price target of $250.83.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 3,607 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total value of $855,796.82. Following the sale, the vice president now owns 6,077 shares in the company, valued at $1,441,829.02. This represents a 37.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Douglas Richard Deschutter sold 5,056 shares of the business'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 value of $1,211,164.80. Following the sale, the insider now directly owns 21,167 shares of the company's stock, valued at $5,070,554.85. This represents a 19.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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.

Broadridge Financial Solutions Stock Up 0.2%

Shares of BR traded up $0.42 during trading hours on Friday, hitting $239.59. The stock had a trading volume of 527,705 shares, compared to its average volume of 525,377. Broadridge Financial Solutions, Inc. has a 1-year low of $195.64 and a 1-year high of $247.01. The firm has a market capitalization of $28.14 billion, a P/E ratio of 36.03 and a beta of 0.96. The firm has a 50 day simple moving average of $238.69 and a 200-day simple moving average of $235.31. 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 (NYSE:BR - Get Free Report) last announced its quarterly earnings data 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 return on equity of 44.82% and a net margin of 11.65%. The firm had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter last year, the firm posted $2.23 earnings per share. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. Sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

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

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.