Concurrent Investment Advisors LLC Has $2.83 Million Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Concurrent Investment Advisors LLC boosted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 16.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,670 shares of the business services provider's stock after acquiring an additional 1,678 shares during the period. Concurrent Investment Advisors LLC's holdings in Broadridge Financial Solutions were worth $2,830,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its stake in shares of Broadridge Financial Solutions by 50.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider's stock worth $804,952,000 after buying an additional 1,186,555 shares during the last quarter. GAMMA Investing LLC lifted its position in Broadridge Financial Solutions by 31,011.4% during the first quarter. GAMMA Investing LLC now owns 989,964 shares of the business services provider's stock worth $240,027,000 after acquiring an additional 986,782 shares during the last quarter. Norges Bank bought a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth approximately $106,904,000. Raymond James Financial Inc. acquired a new position in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $104,466,000. Finally, Corient Private Wealth LLC increased its stake in shares of Broadridge Financial Solutions by 882.9% during the fourth quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider's stock worth $99,186,000 after purchasing an additional 392,695 shares during the period. Institutional investors own 90.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BR. Needham & Company LLC started coverage on Broadridge Financial Solutions in a report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price objective on the stock. Royal Bank Of Canada restated an "outperform" rating and issued a $259.00 price target on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Finally, Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of "Hold" and a consensus target price of $250.83.

Insider Activity at Broadridge Financial Solutions

In related news, Director Pamela L. Carter sold 4,829 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $242.23, for a total value of $1,169,728.67. Following the sale, the director directly owned 7,242 shares of the company's stock, valued at $1,754,229.66. This trade represents a 40.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Douglas Richard Deschutter sold 5,056 shares of the stock in a transaction dated Tuesday, May 27th. The stock was 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 of the company's stock, valued at $5,070,554.85. This trade represents a 19.28% 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 in the last three months. Insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR traded down $1.81 during mid-day trading on Monday, reaching $240.32. The company had a trading volume of 384,781 shares, compared to its average volume of 527,510. Broadridge Financial Solutions, Inc. has a one year low of $198.71 and a one year high of $247.01. The business's 50-day simple moving average is $239.46 and its 200 day simple moving average is $235.80. 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 firm has a market cap of $28.23 billion, a price-to-earnings ratio of 36.14 and a beta of 0.94.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its earnings results on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, beating the consensus estimate of $2.41 by $0.03. The company 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%. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.23 EPS. On average, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share 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 paid a $0.88 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.46%. Broadridge Financial Solutions's payout ratio is 52.93%.

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.