Board of the Pension Protection Fund Purchases 2,600 Shares of Broadridge Financial Solutions, Inc. $BR

Key Points

• The Board of the Pension Protection Fund increased its holdings in Broadridge Financial Solutions, Inc. by 83.9%, purchasing an additional 2,600 shares and now owning a total of 5,700 shares valued at approximately **$1.385 million**.
• Broadridge Financial Solutions has recently **increased its quarterly dividend** to $0.975 per share, reflecting a **1.7% dividend yield** which is a rise from the previous quarterly dividend of $0.88.
• Analysts have mixed ratings on Broadridge Financial Solutions, with Morgan Stanley and UBS Group providing target price increases, while the overall average target remains at **$261.50**.

Board of the Pension Protection Fund increased its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 83.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,700 shares of the business services provider's stock after purchasing an additional 2,600 shares during the quarter. Broadridge Financial Solutions makes up about 1.5% of Board of the Pension Protection Fund's portfolio, making the stock its 27th biggest position. Board of the Pension Protection Fund's holdings in Broadridge Financial Solutions were worth $1,385,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. D.A. Davidson & CO. bought a new position in Broadridge Financial Solutions in the first quarter worth approximately $217,000. CWA Asset Management Group LLC lifted its holdings in Broadridge Financial Solutions by 6.8% during the first quarter. CWA Asset Management Group LLC now owns 1,370 shares of the business services provider's stock worth $332,000 after buying an additional 87 shares during the period. Golden State Wealth Management LLC purchased a new stake in Broadridge Financial Solutions during the first quarter worth $29,000. Sequoia Financial Advisors LLC lifted its holdings in Broadridge Financial Solutions by 9.6% during the first quarter. Sequoia Financial Advisors LLC now owns 1,153 shares of the business services provider's stock worth $279,000 after buying an additional 101 shares during the period. Finally, Triangle Securities Wealth Management purchased a new stake in Broadridge Financial Solutions during the second quarter worth $784,000. Institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $232.81 on Friday. Broadridge Financial Solutions, Inc. has a 12 month low of $208.20 and a 12 month high of $271.91. The stock has a fifty day moving average price of $250.05 and a 200-day moving average price of $242.56. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.04. The firm has a market cap of $27.17 billion, a PE ratio of 32.84 and a beta of 0.95.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%.The firm had revenue of $1.05 billion during the quarter. Equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Thursday, September 11th were given a $0.975 dividend. This represents a $3.90 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Thursday, September 11th. This is a positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.88. Broadridge Financial Solutions's payout ratio is currently 55.01%.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 84,571 shares of the company's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $259.53, for a total value 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 represents a 33.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Christopher John Perry sold 7,036 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total value of $1,848,497.92. Following the completion of the transaction, the president directly owned 48,813 shares in the company, valued at approximately $12,824,151.36. The trade was a 12.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 147,532 shares of company stock worth $38,417,208. 1.10% of the stock is owned by insiders.

Analysts Set New Price Targets

BR has been the subject of a number of analyst reports. Morgan Stanley upped their target price on Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Saturday, October 4th. Weiss Ratings restated a "buy (b)" rating on shares of Broadridge Financial Solutions in a report on Wednesday. UBS Group upped their target price on Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Finally, Needham & Company LLC upped their target price on Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $261.50.

Broadridge Financial Solutions Company 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.

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