Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Purchased by Merit Financial Group LLC

Merit Financial Group LLC raised its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 22.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,630 shares of the business services provider's stock after purchasing an additional 1,767 shares during the period. Merit Financial Group LLC's holdings in Broadridge Financial Solutions were worth $2,335,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. LVW Advisors LLC increased its holdings in shares of Broadridge Financial Solutions by 10.1% in the 1st quarter. LVW Advisors LLC now owns 4,372 shares of the business services provider's stock valued at $1,060,000 after acquiring an additional 401 shares during the last quarter. NBC Securities Inc. increased its holdings in shares of Broadridge Financial Solutions by 115,820.0% in the 1st quarter. NBC Securities Inc. now owns 5,796 shares of the business services provider's stock valued at $1,405,000 after acquiring an additional 5,791 shares during the last quarter. Czech National Bank increased its holdings in shares of Broadridge Financial Solutions by 6.0% in the 1st quarter. Czech National Bank now owns 26,877 shares of the business services provider's stock valued at $6,517,000 after acquiring an additional 1,533 shares during the last quarter. Wallace Advisory Group LLC bought a new stake in shares of Broadridge Financial Solutions in the 1st quarter valued at approximately $209,000. Finally, Rhumbline Advisers increased its holdings in shares of Broadridge Financial Solutions by 7.0% in the 1st quarter. Rhumbline Advisers now owns 261,855 shares of the business services provider's stock valued at $63,489,000 after acquiring an additional 17,060 shares during the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Broadridge Financial Solutions

In related news, Director Maura A. Markus sold 3,556 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total transaction of $864,392.48. Following the completion of the transaction, the director now owns 30,892 shares of the company's stock, valued at $7,509,227.36. This trade represents a 10.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Douglas Richard Deschutter sold 5,056 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $239.55, for a total value of $1,211,164.80. Following the transaction, the insider now directly owns 21,167 shares of the company's stock, valued at $5,070,554.85. This represents a 19.28% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 114,072 shares of company stock valued at $26,943,219. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BR. Needham & Company LLC began coverage on Broadridge Financial Solutions in a report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price target for the company. Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $259.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $250.83.

Broadridge Financial Solutions Trading Up 0.2%

Broadridge Financial Solutions stock opened at $244.69 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The firm has a 50-day moving average price of $236.24 and a two-hundred day moving average price of $234.55. The firm has a market capitalization of $28.74 billion, a price-to-earnings ratio of 38.29 and a beta of 0.98. Broadridge Financial Solutions, Inc. has a 52-week low of $192.68 and a 52-week high of $247.01.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.03. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The company had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter in the prior year, the business posted $2.23 earnings per share. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be paid a $0.88 dividend. The ex-dividend date is Thursday, June 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.44%. Broadridge Financial Solutions's payout ratio is 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.

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