Envestnet Portfolio Solutions Inc. Has $2.53 Million Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Envestnet Portfolio Solutions Inc. reduced its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 52.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,452 shares of the business services provider's stock after selling 11,362 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Broadridge Financial Solutions were worth $2,534,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC raised its position in Broadridge Financial Solutions by 2,620.0% during the 1st quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock worth $33,000 after purchasing an additional 131 shares during the last quarter. Minot DeBlois Advisors LLC bought a new position in shares of Broadridge Financial Solutions during the fourth quarter worth about $34,000. Gen Wealth Partners Inc bought a new position in shares of Broadridge Financial Solutions during the fourth quarter worth about $36,000. Curio Wealth LLC acquired a new position in shares of Broadridge Financial Solutions in the fourth quarter worth approximately $45,000. Finally, Promus Capital LLC bought a new stake in Broadridge Financial Solutions in the fourth quarter valued at approximately $52,000. Institutional investors and hedge funds own 90.03% of the company's stock.

Broadridge Financial Solutions Price Performance

Shares of BR opened at $236.37 on Monday. Broadridge Financial Solutions, Inc. has a twelve month low of $195.64 and a twelve month high of $247.01. The company has a market capitalization of $27.76 billion, a P/E ratio of 35.54 and a beta of 0.96. The firm has a 50 day moving average of $238.36 and a 200 day moving average of $235.16. 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 (NYSE:BR - Get Free Report) last released 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 firm had revenue of $1.81 billion for 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 company's revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.23 EPS. As a group, equities research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Thursday, June 12th. Broadridge Financial Solutions's payout ratio is currently 52.93%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Broadridge Financial Solutions

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

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.

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