Concurrent Investment Advisors LLC Acquires 1,678 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Concurrent Investment Advisors LLC grew its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 16.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,670 shares of the business services provider's stock after purchasing an additional 1,678 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Broadridge Financial Solutions were worth $2,830,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. World Investment Advisors purchased a new stake in Broadridge Financial Solutions during the first quarter worth $473,000. von Borstel & Associates Inc. bought a new position in shares of Broadridge Financial Solutions in the 1st quarter worth $43,000. Olde Wealth Management LLC purchased a new stake in shares of Broadridge Financial Solutions during the 1st quarter worth $36,000. Eukles Asset Management boosted its position in Broadridge Financial Solutions by 16.7% during the first quarter. Eukles Asset Management now owns 4,291 shares of the business services provider's stock valued at $1,040,000 after purchasing an additional 614 shares in the last quarter. Finally, Catalyst Capital Advisors LLC boosted its position in Broadridge Financial Solutions by 5.1% during the first quarter. Catalyst Capital Advisors LLC now owns 5,352 shares of the business services provider's stock valued at $1,298,000 after purchasing an additional 260 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Broadridge Financial Solutions

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

Broadridge Financial Solutions Stock Performance

BR opened at $242.13 on Monday. The company has a market cap of $28.44 billion, a P/E ratio of 36.41 and a beta of 0.94. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.44. The firm's 50-day moving average price is $239.46 and its 200-day moving average price is $235.80. Broadridge Financial Solutions, Inc. has a 52-week low of $198.71 and a 52-week high of $247.01.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its earnings results 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 company had revenue of $1.81 billion for the quarter, compared to the consensus estimate 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 previous year, the firm earned $2.23 EPS. As a group, equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders 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 dividend on an annualized basis and a yield of 1.45%. Broadridge Financial Solutions's dividend payout ratio is currently 52.93%.

About Broadridge Financial Solutions

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.

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