Castellan Group Acquires 12,914 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Key Points

• Castellan Group increased its position in Broadridge Financial Solutions by 114.7%, owning 24,170 shares valued at approximately $5.86 million, which represents about 1.6% of its total holdings.
• Broadridge Financial Solutions reported a quarterly earnings per share (EPS) of $2.44, exceeding analyst estimates of $2.41, along with a 5.0% year-over-year revenue growth totaling $1.81 billion.
• The company recently declared a quarterly dividend of $0.88, reflecting an annualized yield of 1.4% and a payout ratio of 52.93%.

Castellan Group raised its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 114.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,170 shares of the business services provider's stock after purchasing an additional 12,914 shares during the quarter. Broadridge Financial Solutions makes up about 1.6% of Castellan Group's portfolio, making the stock its 21st biggest holding. Castellan Group's holdings in Broadridge Financial Solutions were worth $5,860,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in shares of Broadridge Financial Solutions in the first quarter valued at $29,000. Whipplewood Advisors LLC grew its stake in Broadridge Financial Solutions by 2,620.0% in the 1st quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock valued at $33,000 after buying an additional 131 shares during the last quarter. Minot DeBlois Advisors LLC bought a new position in Broadridge Financial Solutions in the 4th quarter valued at about $34,000. Continuum Advisory LLC raised its holdings in Broadridge Financial Solutions by 48.4% in the 1st quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock valued at $34,000 after acquiring an additional 46 shares during the period. Finally, Gen Wealth Partners Inc acquired a new stake in Broadridge Financial Solutions during the fourth quarter worth approximately $36,000. 90.03% of the stock is owned by institutional investors.

Insider Activity at Broadridge Financial Solutions

In other news, insider Douglas Richard Deschutter sold 5,056 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $239.55, for a total transaction of $1,211,164.80. Following the completion of the transaction, the insider directly owned 21,167 shares in the company, valued at approximately $5,070,554.85. This represents a 19.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pamela L. Carter sold 4,829 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $242.23, for a total value of $1,169,728.67. Following the completion of the transaction, the director owned 7,242 shares of the company's stock, valued at $1,754,229.66. The trade was a 40.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,116 shares of company stock worth $4,352,298 in the last three months. Insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Price Performance

Shares of BR stock traded down $2.90 during trading on Friday, hitting $244.61. The company had a trading volume of 534,573 shares, compared to its average volume of 756,417. The firm has a market capitalization of $28.73 billion, a P/E ratio of 36.78 and a beta of 0.94. Broadridge Financial Solutions, Inc. has a one year low of $206.29 and a one year high of $257.65. 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 stock's 50-day moving average price is $241.40 and its 200 day moving average price is $237.92.

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

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th were issued a dividend of $0.88 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.4%. Broadridge Financial Solutions's payout ratio is 52.93%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on 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. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $259.00 price objective on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Finally, Needham & Company LLC initiated coverage on Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $250.83.

Broadridge Financial Solutions 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.