Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. grew its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 52.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,270 shares of the business services provider's stock after purchasing an additional 3,553 shares during the period. Edgestream Partners L.P.'s holdings in Broadridge Financial Solutions were worth $2,490,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Brighton Jones LLC purchased a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at $580,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at $238,000. Commonwealth Equity Services LLC increased its holdings in Broadridge Financial Solutions by 2.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 28,877 shares of the business services provider's stock worth $6,529,000 after purchasing an additional 758 shares during the period. Harbour Investments Inc. increased its holdings 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 purchasing an additional 95 shares during the period. Finally, Cibc World Markets Corp increased its holdings 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 purchasing an additional 2,515 shares during the period. Institutional investors and hedge funds own 90.03% of the company's stock.

Broadridge Financial Solutions Stock Up 0.8%

Shares of BR traded up $1.94 during mid-day trading on Friday, reaching $239.13. The company's stock had a trading volume of 494,765 shares, compared to its average volume of 526,416. Broadridge Financial Solutions, Inc. has a 12-month low of $201.67 and a 12-month high of $247.01. The stock has a market cap of $28.09 billion, a PE ratio of 35.96 and a beta of 0.94. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.32 and a quick ratio of 1.32. The company's 50 day moving average is $239.76 and its 200 day moving average is $236.55.

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

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed 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 1.47%. Broadridge Financial Solutions's payout ratio is 52.93%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BR shares. Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Royal Bank Of Canada restated an "outperform" rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Finally, Needham & Company LLC started coverage on Broadridge Financial Solutions in a report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price target on the stock. Five investment 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, Broadridge Financial Solutions has an average 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 that occurred on 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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Maura A. Markus sold 3,556 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director directly owned 30,892 shares of the company's stock, valued at $7,509,227.36. The trade was a 10.32% 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 in the last ninety days. Company insiders own 1.30% of the company's stock.

Broadridge Financial Solutions 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.