Bridgewater Advisors Inc. Makes New Investment in Broadridge Financial Solutions, Inc. (NYSE:BR)

Bridgewater Advisors Inc. bought a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 3,514 shares of the business services provider's stock, valued at approximately $842,000.

Other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in shares of Broadridge Financial Solutions during the 1st quarter worth about $29,000. Whipplewood Advisors LLC grew its holdings in shares of Broadridge Financial Solutions by 2,620.0% during the 1st 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 period. Continuum Advisory LLC grew its holdings in shares of Broadridge Financial Solutions by 48.4% during the 1st quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock worth $34,000 after purchasing an additional 46 shares during the period. Olde Wealth Management LLC acquired a new position in Broadridge Financial Solutions during the 1st quarter worth approximately $36,000. Finally, Minot DeBlois Advisors LLC acquired a new position in Broadridge Financial Solutions during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 90.03% of the company's stock.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,068 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total value of $251,214.96. Following the transaction, the insider directly owned 1,070 shares of the company's stock, valued at $251,685.40. This represents a 49.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Pamela L. Carter sold 4,829 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $242.23, for a total value of $1,169,728.67. Following the transaction, the director directly owned 7,242 shares in the company, valued at approximately $1,754,229.66. This represents a 40.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,116 shares of company stock worth $4,352,298. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BR has been the topic of several recent research reports. Needham & Company LLC initiated coverage on Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price target on the stock. Royal Bank Of Canada reissued an "outperform" rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Finally, Wall Street Zen raised 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 assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $250.83.

Broadridge Financial Solutions Stock Up 0.3%

Shares of BR traded up $0.79 during trading on Friday, reaching $237.98. The company's stock had a trading volume of 115,263 shares, compared to its average volume of 525,801. Broadridge Financial Solutions, Inc. has a twelve month low of $200.63 and a twelve month high of $247.01. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.44. The company has a fifty day moving average of $239.72 and a two-hundred day moving average of $236.32. The company has a market cap of $27.95 billion, a price-to-earnings ratio of 35.76 and a beta of 0.94.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its earnings results on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.81 billion during the quarter, compared to the consensus estimate 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 was up 5.0% compared to the same quarter last year. On average, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio is currently 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.