First National Advisers LLC Boosts Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Key Points

• First National Advisers LLC increased its stake in Broadridge Financial Solutions by 21.5%, amounting to 16,018 shares valued at $3.88 million.
• Multiple institutional investors have also modified their holdings, with JPMorgan Chase & Co. increasing its stake by 17.5%, now owning 497,751 shares worth approximately $112.5 million.
• Broadridge recently reported earnings of $2.44 per share, exceeding estimates, and announced a quarterly dividend of $0.88, reflecting a 1.39% yield.

First National Advisers LLC grew its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 21.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,018 shares of the business services provider's stock after purchasing an additional 2,834 shares during the quarter. First National Advisers LLC's holdings in Broadridge Financial Solutions were worth $3,883,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in shares of Broadridge Financial Solutions in the 1st quarter worth approximately $29,000. Whipplewood Advisors LLC lifted its stake in shares of Broadridge Financial Solutions by 2,620.0% in the 1st quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock valued at $33,000 after purchasing an additional 131 shares during the period. Minot DeBlois Advisors LLC acquired a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at $34,000. Continuum Advisory LLC lifted its stake in shares of Broadridge Financial Solutions by 48.4% in the 1st quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock valued at $34,000 after purchasing an additional 46 shares during the period. Finally, Gen Wealth Partners Inc acquired a new position in Broadridge Financial Solutions during the fourth quarter worth $36,000. 90.03% of the stock is currently owned by institutional investors.

Insider Activity at Broadridge Financial Solutions

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

Broadridge Financial Solutions Stock Down 0.5%

Shares of BR traded down $1.15 during mid-day trading on Monday, hitting $252.54. 2,012,707 shares of the company's stock were exchanged, compared to its average volume of 626,953. The company has a market cap of $29.66 billion, a price-to-earnings ratio of 37.98 and a beta of 0.94. Broadridge Financial Solutions, Inc. has a fifty-two week low of $206.29 and a fifty-two week high of $257.65. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.32 and a current ratio of 1.32. The stock's 50-day moving average is $240.80 and its 200-day moving average is $237.44.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its earnings results 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 for the quarter, compared to analysts' expectations of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.65% and a return on equity of 44.82%. The firm's revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.23 earnings per share. On average, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th were issued a dividend of $0.88 per share. The ex-dividend date was Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a yield of 1.39%. Broadridge Financial Solutions's payout ratio is currently 52.93%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BR. Royal Bank Of Canada restated an "outperform" rating and set a $259.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Needham & Company LLC started coverage on shares of Broadridge Financial Solutions in a research note on Tuesday, May 6th. They set a "buy" rating and a $300.00 target price for the company. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of "Hold" and a consensus target price of $250.83.

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.