Dakota Wealth Management Makes New Investment in Broadridge Financial Solutions, Inc. (NYSE:BR)

Dakota Wealth Management acquired a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,150 shares of the business services provider's stock, valued at approximately $1,006,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC acquired a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at $580,000. Sequoia Financial Advisors LLC acquired a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at $238,000. Commonwealth Equity Services LLC boosted its position in shares of Broadridge Financial Solutions by 2.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 28,877 shares of the business services provider's stock valued at $6,529,000 after purchasing an additional 758 shares during the period. Harbour Investments Inc. boosted its position in Broadridge Financial Solutions by 19.9% during the 4th quarter. Harbour Investments Inc. now owns 573 shares of the business services provider's stock worth $130,000 after acquiring an additional 95 shares during the period. Finally, Cibc World Markets Corp boosted its position in Broadridge Financial Solutions by 15.8% during the 4th quarter. Cibc World Markets Corp now owns 18,461 shares of the business services provider's stock worth $4,174,000 after acquiring an additional 2,515 shares during the period. Hedge funds and other institutional investors own 90.03% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on BR shares. Needham & Company LLC assumed coverage on Broadridge Financial Solutions in a report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price objective on the stock. Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $259.00 price objective on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $250.83.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,556 shares of the business'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 sale, the director owned 30,892 shares in the company, valued at $7,509,227.36. The trade was a 10.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas P. Carey sold 3,607 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total transaction of $855,796.82. Following the transaction, the vice president owned 6,077 shares in the company, valued at $1,441,829.02. The trade was a 37.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,116 shares of company stock worth $4,352,298. Insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Trading Up 0.8%

Shares of Broadridge Financial Solutions stock traded up $1.94 during trading on Friday, reaching $239.13. 494,765 shares of the stock were exchanged, compared to its average volume of 526,674. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.44. Broadridge Financial Solutions, Inc. has a 1 year low of $200.63 and a 1 year high of $247.01. The stock's fifty day moving average is $239.76 and its 200 day moving average is $236.41. The firm has a market cap of $28.09 billion, a price-to-earnings ratio of 35.96 and a beta of 0.94.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share 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 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%. The firm's quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.23 earnings per share. As a group, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

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 dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio is presently 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.