Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Acquired by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has increased its holdings in Broadridge Financial Solutions by 3.1%, owning 14,733,147 shares valued at approximately $3.57 billion.
• Broadridge Financial Solutions recently reported earnings of $3.55 per share, exceeding analysts' estimates, with a revenue of $2.07 billion for the quarter, showing a 6.2% increase from the same period last year.
• The company also announced a quarterly dividend increase to $0.975, representing a 1.5% yield, up from a previous dividend of $0.88.

Vanguard Group Inc. increased its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 3.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,733,147 shares of the business services provider's stock after acquiring an additional 438,381 shares during the quarter. Vanguard Group Inc. owned about 12.54% of Broadridge Financial Solutions worth $3,572,199,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BR. D.A. Davidson & CO. purchased a new position in Broadridge Financial Solutions in the first quarter worth approximately $217,000. CWA Asset Management Group LLC increased its stake in Broadridge Financial Solutions by 6.8% during the 1st 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 acquired a new stake in shares of Broadridge Financial Solutions in the first quarter valued at $29,000. Sequoia Financial Advisors LLC grew its position in shares of 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 in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of Broadridge Financial Solutions by 12.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 655 shares of the business services provider's stock worth $159,000 after purchasing an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Trading Down 0.3%

Shares of BR opened at $266.09 on Friday. Broadridge Financial Solutions, Inc. has a twelve month low of $206.29 and a twelve month high of $271.91. The company has a current ratio of 0.98, a quick ratio of 1.32 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $31.17 billion, a P/E ratio of 37.53 and a beta of 0.94. The firm's 50-day moving average is $243.20 and its two-hundred day moving average is $238.72.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The business services provider reported $3.55 earnings per share for the quarter, topping analysts' consensus estimates of $3.51 by $0.04. The business had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.06 billion. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%. The company's revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.50 EPS. On average, 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Thursday, September 11th will be given a $0.975 dividend. The ex-dividend date is Thursday, September 11th. This represents a $3.90 annualized dividend and a dividend yield of 1.5%. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.88. Broadridge Financial Solutions's payout ratio is presently 49.65%.

Insider Buying and Selling 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 completion of the transaction, the insider directly owned 21,167 shares of the company's stock, valued at $5,070,554.85. This trade represents a 19.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Maura A. Markus sold 3,556 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total value of $864,392.48. Following the completion of the sale, the director directly owned 30,892 shares in the company, valued at approximately $7,509,227.36. The trade was a 10.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,048 shares of company stock valued at $4,101,083 over the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BR. Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Needham & Company LLC increased their price objective on Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a research report on Wednesday. Morgan Stanley lifted their target price on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an "equal weight" rating in a report on Wednesday. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $259.00 price objective on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $258.17.

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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