Brown Miller Wealth Management LLC Purchases Shares of 2,567 Broadridge Financial Solutions, Inc. (NYSE:BR)

Brown Miller Wealth Management LLC purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,567 shares of the business services provider's stock, valued at approximately $622,000.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC bought a new position in shares of Broadridge Financial Solutions during the fourth quarter worth approximately $580,000. Empowered Funds LLC increased its holdings in shares of Broadridge Financial Solutions by 13.3% during the fourth quarter. Empowered Funds LLC now owns 2,797 shares of the business services provider's stock worth $632,000 after purchasing an additional 329 shares during the period. Savant Capital LLC increased its holdings in shares of Broadridge Financial Solutions by 7.8% during the fourth quarter. Savant Capital LLC now owns 3,555 shares of the business services provider's stock worth $804,000 after purchasing an additional 257 shares during the period. Van ECK Associates Corp increased its holdings in shares of Broadridge Financial Solutions by 1.3% during the fourth quarter. Van ECK Associates Corp now owns 21,244 shares of the business services provider's stock worth $4,803,000 after purchasing an additional 277 shares during the period. Finally, Congress Asset Management Co. increased its holdings in shares of Broadridge Financial Solutions by 1.9% during the fourth quarter. Congress Asset Management Co. now owns 83,799 shares of the business services provider's stock worth $18,946,000 after purchasing an additional 1,579 shares during the period. 90.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Needham & Company LLC began coverage on shares of Broadridge Financial Solutions in a research note on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price objective on the stock. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $259.00 price objective on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $250.83.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR opened at $236.94 on Monday. The company's 50 day simple moving average is $237.39 and its 200 day simple moving average is $235.04. The stock has a market capitalization of $27.83 billion, a price-to-earnings ratio of 37.08 and a beta of 0.96. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. Broadridge Financial Solutions, Inc. has a 1 year low of $193.85 and a 1 year 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 earnings per share for the quarter, beating analysts' consensus estimates of $2.41 by $0.03. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the business posted $2.23 earnings per share. The company's quarterly revenue was up 5.0% on a year-over-year basis. As a group, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th will be given a $0.88 dividend. The ex-dividend date is Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a yield of 1.49%. Broadridge Financial Solutions's dividend payout ratio is currently 52.93%.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 3,607 shares of Broadridge Financial Solutions stock in a transaction on 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 now owns 6,077 shares in the company, valued at approximately $1,441,829.02. The trade was 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 the SEC website. Also, insider Hope M. Jarkowski sold 1,068 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total transaction of $251,214.96. Following the transaction, the insider now owns 1,070 shares in the company, valued at approximately $251,685.40. This trade represents a 49.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,116 shares of company stock worth $4,352,298 over the last quarter. Corporate insiders own 1.30% of the company's stock.

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.

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