Callan Family Office LLC Increases Stake in Broadridge Financial Solutions, Inc. $BR

Key Points

• Callan Family Office LLC increased its stake in Broadridge Financial Solutions by 23.4%, owning 6,791 shares valued at approximately $1.65 million at the end of the recent quarter.
• Broadridge Financial Solutions announced a quarterly dividend of $0.975, up from the previous $0.88, representing an annualized yield of 1.7%.
• Several institutional investors have significantly increased their positions, with Jones Financial Companies raising its stake by an astonishing 28,222.6% in the first quarter, owning 949,657 shares valued at $230.25 million.

Callan Family Office LLC increased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 23.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,791 shares of the business services provider's stock after buying an additional 1,288 shares during the period. Callan Family Office LLC's holdings in Broadridge Financial Solutions were worth $1,650,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BR. Jones Financial Companies Lllp increased its stake in shares of Broadridge Financial Solutions by 28,222.6% during the first quarter. Jones Financial Companies Lllp now owns 949,657 shares of the business services provider's stock valued at $230,254,000 after buying an additional 946,304 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Broadridge Financial Solutions by 577.9% during the first quarter. Ameriprise Financial Inc. now owns 1,035,938 shares of the business services provider's stock valued at $251,513,000 after buying an additional 883,125 shares during the period. Vanguard Group Inc. increased its stake in shares of Broadridge Financial Solutions by 3.1% during the first quarter. Vanguard Group Inc. now owns 14,733,147 shares of the business services provider's stock valued at $3,572,199,000 after buying an additional 438,381 shares during the period. Nuveen LLC purchased a new position in shares of Broadridge Financial Solutions during the first quarter valued at $91,445,000. Finally, Principal Financial Group Inc. increased its stake in shares of Broadridge Financial Solutions by 156.8% during the first quarter. Principal Financial Group Inc. now owns 404,830 shares of the business services provider's stock valued at $98,155,000 after buying an additional 247,157 shares during the period. Hedge funds and other institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $232.81 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $27.17 billion, a PE ratio of 32.84 and a beta of 0.95. The business has a 50-day simple moving average of $250.05 and a two-hundred day simple moving average of $242.56. Broadridge Financial Solutions, Inc. has a fifty-two week low of $208.20 and a fifty-two week high of $271.91.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share for the quarter. The business had revenue of $1.05 billion during the quarter. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%. As a group, equities analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th were issued a $0.975 dividend. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.88. This represents a $3.90 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Thursday, September 11th. Broadridge Financial Solutions's dividend payout ratio is 55.01%.

Insider Activity

In other Broadridge Financial Solutions news, President Christopher John Perry sold 7,036 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total value of $1,848,497.92. Following the completion of the sale, the president owned 48,813 shares of the company's stock, valued at approximately $12,824,151.36. This trade represents a 12.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy C. Gokey sold 5,674 shares of Broadridge Financial Solutions stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $258.37, for a total value of $1,465,991.38. Following the sale, the chief executive officer directly owned 143,285 shares of the company's stock, valued at $37,020,545.45. This trade represents a 3.81% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 147,532 shares of company stock valued at $38,417,208. Corporate insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BR. Needham & Company LLC raised their price target on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Morgan Stanley lifted their target price on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Saturday, October 4th. UBS Group boosted their target price on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Broadridge Financial Solutions in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $261.50.

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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