Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases 7,732 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Key Points

• Empirical Wealth Management increased its stake in Broadridge Financial Solutions by 390.5%, owning 9,712 shares valued at approximately $2.36 million.
• Broadridge Financial Solutions reported a quarterly EPS of $2.44, exceeding estimates and showing a 5% year-over-year revenue increase, amidst a challenging economic backdrop.
• Following recent developments, several investment analysts have given Broadridge a mix of buy and hold ratings, with an average price target of $250.83.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 390.5% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 9,712 shares of the business services provider's stock after acquiring an additional 7,732 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Broadridge Financial Solutions were worth $2,355,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in Broadridge Financial Solutions by 50.0% in 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 purchasing an additional 1,186,555 shares in the last quarter. GAMMA Investing LLC grew its holdings 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 buying an additional 986,782 shares in the last quarter. Northern Trust Corp increased its position in shares of Broadridge Financial Solutions by 24.4% during the fourth quarter. Northern Trust Corp now owns 1,604,783 shares of the business services provider's stock valued at $362,825,000 after acquiring an additional 314,323 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Broadridge Financial Solutions by 156.8% in the 1st quarter. Principal Financial Group Inc. now owns 404,830 shares of the business services provider's stock worth $98,155,000 after purchasing an additional 247,157 shares during the period. Finally, Balyasny Asset Management L.P. lifted its stake in shares of Broadridge Financial Solutions by 6,362.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 233,685 shares of the business services provider's stock valued at $52,834,000 after buying an additional 230,069 shares in the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Trading Up 6.6%

Shares of NYSE BR traded up $16.42 during trading on Tuesday, reaching $264.88. The stock had a trading volume of 872,702 shares, compared to its average volume of 573,042. Broadridge Financial Solutions, Inc. has a fifty-two week low of $206.29 and a fifty-two week high of $269.14. 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 business's 50-day moving average price is $241.63 and its 200-day moving average price is $238.09. The company has a market cap of $31.11 billion, a P/E ratio of 39.80 and a beta of 0.94.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The business services provider reported $3.55 earnings per share for the quarter, beating analysts' consensus estimates of $3.51 by $0.04. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.06 billion. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. The company's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $3.50 earnings per share. On average, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be given a $0.975 dividend. This is a positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.88. This represents a $3.90 annualized dividend and a yield of 1.5%. Broadridge Financial Solutions's payout ratio is 52.93%.

Analyst Ratings Changes

A number of research analysts have commented on the company. 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 assumed coverage on shares of Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price objective for the company. Finally, Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of "Hold" and a consensus price target of $250.83.

Insider Transactions at Broadridge Financial Solutions

In related news, Director Pamela L. Carter sold 4,829 shares of the stock in a transaction 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 sale, the director owned 7,242 shares in the company, valued at approximately $1,754,229.66. This represents a 40.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Hope M. Jarkowski sold 1,068 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total transaction of $251,214.96. Following the completion of the sale, the insider owned 1,070 shares in the company, valued at $251,685.40. This represents a 49.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,116 shares of company stock valued at $4,352,298 in the last 90 days. 1.30% of the stock is owned by corporate insiders.

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.