Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Acquired by Lord & Richards Wealth Management LLC

Lord & Richards Wealth Management LLC raised its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 109.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,998 shares of the business services provider's stock after purchasing an additional 2,615 shares during the quarter. Broadridge Financial Solutions comprises 1.4% of Lord & Richards Wealth Management LLC's holdings, making the stock its 23rd biggest position. Lord & Richards Wealth Management LLC's holdings in Broadridge Financial Solutions were worth $1,212,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Broadridge Financial Solutions by 50.0% in the fourth 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 acquiring an additional 1,186,555 shares during the period. GAMMA Investing LLC increased its stake in shares of Broadridge Financial Solutions by 31,011.4% in the first quarter. GAMMA Investing LLC now owns 989,964 shares of the business services provider's stock worth $240,027,000 after acquiring an additional 986,782 shares during the period. Norges Bank acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth $106,904,000. Corient Private Wealth LLC increased its stake in shares of Broadridge Financial Solutions by 882.9% in the fourth quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider's stock worth $99,186,000 after acquiring an additional 392,695 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Broadridge Financial Solutions by 24.4% in the fourth quarter. Northern Trust Corp now owns 1,604,783 shares of the business services provider's stock worth $362,825,000 after acquiring an additional 314,323 shares during the period. Institutional investors and hedge funds own 90.03% of the company's stock.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Pamela L. Carter sold 4,829 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $242.23, for a total transaction of $1,169,728.67. Following the completion of the sale, the director directly owned 7,242 shares in the company, valued at $1,754,229.66. This trade represents a 40.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maura A. Markus sold 3,556 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total transaction of $864,392.48. Following the sale, the director owned 30,892 shares of the company's stock, valued at approximately $7,509,227.36. This represents a 10.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,116 shares of company stock valued at $4,352,298 over the last ninety days. Corporate insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada reiterated an "outperform" rating and issued a $259.00 price objective on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Needham & Company LLC assumed coverage on shares of 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. Finally, Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $250.83.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR traded up $1.58 during midday trading on Friday, hitting $238.77. The company's stock had a trading volume of 253,398 shares, compared to its average volume of 526,438. The business's 50 day simple moving average is $239.72 and its 200 day simple moving average is $236.32. 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 company has a market cap of $28.05 billion, a P/E ratio of 35.88 and a beta of 0.94. Broadridge Financial Solutions, Inc. has a 12-month low of $200.63 and a 12-month high of $247.01.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its earnings results on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, topping analysts' consensus estimates of $2.41 by $0.03. Broadridge Financial Solutions had a net margin of 11.65% and a return on equity of 44.82%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the firm earned $2.23 earnings per share. Broadridge Financial Solutions's quarterly revenue was up 5.0% compared to the same quarter last year. On average, analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date was Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 52.93%.

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.