Charles Schwab Investment Management Inc. Acquires 9,842 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Charles Schwab Investment Management Inc. boosted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 694,631 shares of the business services provider's stock after buying an additional 9,842 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.59% of Broadridge Financial Solutions worth $168,420,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC purchased a new position in Broadridge Financial Solutions during the 1st quarter worth approximately $29,000. Whipplewood Advisors LLC grew its position in Broadridge Financial Solutions by 2,620.0% during the 1st quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock worth $33,000 after purchasing an additional 131 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new position in Broadridge Financial Solutions during the 4th quarter worth approximately $34,000. Continuum Advisory LLC grew its position in Broadridge Financial Solutions by 48.4% during the 1st quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock worth $34,000 after purchasing an additional 46 shares in the last quarter. Finally, Gen Wealth Partners Inc purchased a new position in Broadridge Financial Solutions during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 90.03% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Morgan Stanley lifted their price objective on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Needham & Company LLC lifted their target price on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Royal Bank Of Canada reissued an "outperform" rating and set a $259.00 target price on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Finally, UBS Group lifted their target price on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Broadridge Financial Solutions has an average rating of "Hold" and an average price target of $261.50.

Broadridge Financial Solutions Stock Down 1.0%

Shares of BR stock traded down $2.54 on Thursday, hitting $259.14. The company's stock had a trading volume of 507,736 shares, compared to its average volume of 586,904. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.98 and a quick ratio of 0.98. Broadridge Financial Solutions, Inc. has a fifty-two week low of $206.95 and a fifty-two week high of $271.91. The firm's fifty day moving average price is $244.81 and its 200-day moving average price is $239.49. The stock has a market capitalization of $30.35 billion, a price-to-earnings ratio of 36.55 and a beta of 0.94.

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, beating the consensus estimate of $3.51 by $0.04. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the previous year, the business earned $3.50 EPS. Broadridge Financial Solutions's quarterly revenue was up 6.2% compared to the same quarter last year. Research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $3.90 dividend on an annualized basis and a yield of 1.5%. This is a positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.88. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 49.65%.

Insider Activity

In other news, Director Maura A. Markus sold 3,556 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total transaction of $864,392.48. Following the completion of the transaction, the director owned 30,892 shares of the company's stock, valued at approximately $7,509,227.36. This represents a 10.32% 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, insider Douglas Richard Deschutter sold 5,056 shares of the company's stock in a transaction dated 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 transaction, the insider directly owned 21,167 shares of the company's stock, valued at $5,070,554.85. This represents a 19.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,477 shares of company stock worth $5,093,784 in the last 90 days. Insiders own 1.30% of the company's stock.

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.