Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Bought by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its stake in Broadridge Financial Solutions by 10.7% to 31,322 shares, valued at approximately $7.59 million.
• Broadridge Financial Solutions recently paid a $0.88 quarterly dividend, with an annualized yield of 1.4%.
• Analysts have set a consensus target price of $250.83 for Broadridge, with several firms issuing "buy" ratings.

Cetera Investment Advisers boosted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 10.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,322 shares of the business services provider's stock after purchasing an additional 3,037 shares during the quarter. Cetera Investment Advisers' holdings in Broadridge Financial Solutions were worth $7,594,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. acquired a new stake in shares of Broadridge Financial Solutions in the first quarter valued at approximately $217,000. CWA Asset Management Group LLC boosted its holdings in shares of Broadridge Financial Solutions by 6.8% in the first quarter. CWA Asset Management Group LLC now owns 1,370 shares of the business services provider's stock valued at $332,000 after acquiring an additional 87 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of Broadridge Financial Solutions in the first quarter valued at approximately $29,000. Sequoia Financial Advisors LLC boosted its holdings in shares of 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 acquiring an additional 101 shares during the period. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of 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 acquiring an additional 72 shares during the period. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Price Performance

NYSE:BR traded up $15.87 during trading hours on Tuesday, hitting $264.33. The company's stock had a trading volume of 790,471 shares, compared to its average volume of 572,632. The business's 50-day moving average is $241.63 and its two-hundred day moving average is $238.09. The company has a market capitalization of $31.05 billion, a PE ratio of 39.81 and a beta of 0.94. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.32 and a current ratio of 1.32. Broadridge Financial Solutions, Inc. has a 52-week low of $206.29 and a 52-week high of $269.14.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The business services provider reported $3.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.04. The firm had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $2.06 billion. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. Broadridge Financial Solutions's revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.50 earnings per share. As a group, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be given 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 1.5%. Broadridge Financial Solutions's dividend payout ratio is presently 52.93%.

Wall Street Analysts Forecast Growth

BR has been the subject of several research analyst reports. Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Needham & Company LLC assumed coverage on Broadridge Financial Solutions in a research note on Tuesday, May 6th. They set a "buy" rating and a $300.00 price target for the company. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $259.00 price target 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 stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $250.83.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,068 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total value of $251,214.96. Following the sale, the insider owned 1,070 shares of the company's stock, valued at approximately $251,685.40. This represents a 49.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Maura A. Markus sold 3,556 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total value of $864,392.48. Following the completion of the sale, the director directly owned 30,892 shares in the company, valued at $7,509,227.36. This trade represents a 10.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,116 shares of company stock valued at $4,352,298 in the last three months. Insiders own 1.30% of the company's stock.

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.