Benjamin Edwards Inc. Buys 24,662 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Key Points

• Benjamin Edwards Inc. increased its stake in Broadridge Financial Solutions by 16.5%, acquiring a total of 174,198 shares valued at approximately $42.24 million.
• Broadridge Financial Solutions reported earnings of $3.55 per share for the last quarter, exceeding analysts' expectations of $3.51 per share.
• The company announced a quarterly dividend increase to $0.975 per share, up from the previous $0.88, providing a 1.5% yield.

Benjamin Edwards Inc. raised its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 16.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,198 shares of the business services provider's stock after acquiring an additional 24,662 shares during the period. Benjamin Edwards Inc. owned approximately 0.15% of Broadridge Financial Solutions worth $42,236,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BR. D.A. Davidson & CO. acquired a new position in shares of Broadridge Financial Solutions during the 1st quarter valued at $217,000. CWA Asset Management Group LLC boosted its position 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 acquiring an additional 87 shares during the period. Golden State Wealth Management LLC acquired a new stake in Broadridge Financial Solutions during the 1st quarter worth about $29,000. Sequoia Financial Advisors LLC grew its stake in Broadridge Financial Solutions by 9.6% in the first quarter. Sequoia Financial Advisors LLC now owns 1,153 shares of the business services provider's stock valued at $279,000 after purchasing an additional 101 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in Broadridge Financial Solutions by 12.3% in the first quarter. Exchange Traded Concepts LLC now owns 655 shares of the business services provider's stock valued at $159,000 after purchasing an additional 72 shares in the last quarter. Institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Price Performance

BR traded down $2.47 during trading on Monday, hitting $263.47. 644,253 shares of the stock traded hands, compared to its average volume of 935,714. Broadridge Financial Solutions, Inc. has a twelve month low of $206.29 and a twelve month high of $271.91. The company has a market cap of $30.86 billion, a price-to-earnings ratio of 37.16 and a beta of 0.94. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.98 and a quick ratio of 0.98. The business has a 50 day moving average price of $244.10 and a 200 day moving average price of $239.17.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The business services provider reported $3.55 EPS for the quarter, beating the consensus estimate of $3.51 by $0.04. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.06 billion. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. The company's revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $3.50 earnings per share. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be given a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a yield of 1.5%. This is an increase from Broadridge Financial Solutions's previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Thursday, September 11th. Broadridge Financial Solutions's payout ratio is currently 49.65%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BR shares. Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. UBS Group increased their price target on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a "neutral" rating in a research note on Friday. Royal Bank Of Canada reiterated an "outperform" rating and set a $259.00 target price on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Needham & Company LLC raised their price objective on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Morgan Stanley lifted their price target on Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $261.50.

Insider Activity

In other news, VP Thomas P. Carey sold 3,607 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total transaction of $855,796.82. Following the transaction, the vice president owned 6,077 shares in the company, valued at approximately $1,441,829.02. This represents a 37.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas Richard Deschutter sold 5,056 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total transaction of $1,211,164.80. Following the completion of the sale, the insider owned 21,167 shares in the company, 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 ninety days, insiders sold 17,048 shares of company stock worth $4,101,083. 1.30% of the stock is owned by insiders.

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.