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

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

A number of other hedge funds also recently modified their holdings of the stock. Golden State Wealth Management LLC bought a new position in Broadridge Financial Solutions during the first quarter worth about $29,000. Whipplewood Advisors LLC increased its position in Broadridge Financial Solutions by 2,620.0% during the first quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock worth $33,000 after acquiring an additional 131 shares during the period. Minot DeBlois Advisors LLC bought a new position in Broadridge Financial Solutions during the fourth quarter worth about $34,000. Continuum Advisory LLC increased its position in Broadridge Financial Solutions by 48.4% during the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock worth $34,000 after acquiring an additional 46 shares during the period. Finally, Gen Wealth Partners Inc bought a new position in Broadridge Financial Solutions during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 90.03% of the company's stock.

Wall Street Analyst Weigh In

BR has been the topic of a number of recent research reports. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Needham & Company LLC started coverage on shares of Broadridge Financial Solutions in a report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 target price on the stock. Finally, Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Broadridge Financial Solutions has an average rating of "Hold" and an average target price of $250.83.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, Director Pamela L. Carter sold 4,829 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $242.23, for a total transaction of $1,169,728.67. Following the sale, the director directly owned 7,242 shares in the company, valued at $1,754,229.66. This trade represents a 40.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas Richard Deschutter sold 5,056 shares of Broadridge Financial Solutions stock in a transaction that occurred on 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 sale, the insider 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 disclosure for this sale can be found here. Insiders sold 18,116 shares of company stock worth $4,352,298 over the last quarter. Insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Price Performance

Shares of BR traded down $0.07 during mid-day trading on Thursday, reaching $238.69. The company had a trading volume of 501,514 shares, compared to its average volume of 527,282. The company's 50 day simple moving average is $239.39 and its 200 day simple moving average is $235.93. Broadridge Financial Solutions, Inc. has a 1-year low of $198.71 and a 1-year high of $247.01. 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 company has a market capitalization of $28.04 billion, a price-to-earnings ratio of 35.89 and a beta of 0.94.

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

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th were given a dividend of $0.88 per share. The ex-dividend date was Thursday, June 12th. This represents a $3.52 annualized dividend and a yield of 1.47%. Broadridge Financial Solutions's dividend payout ratio is presently 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.