Fiduciary Family Office LLC Invests $709,000 in Broadridge Financial Solutions, Inc. (NYSE:BR)

Key Points

• Fiduciary Family Office LLC acquired a new stake in Broadridge Financial Solutions, purchasing 2,924 shares valued at approximately $709,000.
• Institutional investors and hedge funds now own 90.03% of Broadridge Financial Solutions' stock, highlighting strong institutional interest.
• Broadridge Financial Solutions announced a quarterly dividend increase from $0.88 to $0.975, reflecting a commitment to returning value to shareholders.

Fiduciary Family Office LLC purchased a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,924 shares of the business services provider's stock, valued at approximately $709,000.

A number of other hedge funds also recently bought and sold shares of BR. Golden State Wealth Management LLC bought a new stake in Broadridge Financial Solutions during the 1st quarter valued at approximately $29,000. Whipplewood Advisors LLC boosted 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 valued at $33,000 after acquiring an additional 131 shares in the last quarter. Minot DeBlois Advisors LLC bought a new stake in Broadridge Financial Solutions during the 4th quarter valued at approximately $34,000. Continuum Advisory LLC boosted its position in shares of Broadridge Financial Solutions by 48.4% in the 1st quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock worth $34,000 after purchasing an additional 46 shares in the last quarter. Finally, Gen Wealth Partners Inc bought a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Stock Down 0.9%

NYSE BR traded down $2.47 during mid-day trading on Monday, reaching $263.47. The stock had a trading volume of 644,253 shares, compared to its average volume of 935,714. Broadridge Financial Solutions, Inc. has a 1 year low of $206.29 and a 1 year high of $271.91. The stock has a market cap of $30.86 billion, a PE ratio of 37.16 and a beta of 0.94. The company has a fifty day moving average price of $244.10 and a 200 day moving average price of $239.17. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.98 and a quick ratio of 0.98.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The business services provider reported $3.55 earnings per share for the quarter, topping analysts' consensus estimates of $3.51 by $0.04. The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.06 billion. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $3.50 EPS. On average, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be paid a dividend of $0.975 per share. The ex-dividend date is Thursday, September 11th. This represents a $3.90 dividend on an annualized basis and a yield of 1.5%. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.88. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 49.65%.

Analysts Set New Price Targets

BR has been the topic of a number of analyst reports. Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Royal Bank Of Canada reissued an "outperform" rating and issued a $259.00 price target on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Needham & Company LLC boosted their price target on Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Morgan Stanley boosted their price target on Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Finally, UBS Group boosted their price target on Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a "neutral" rating in a research report on Friday. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $261.50.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Pamela L. Carter sold 4,829 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $242.23, for a total transaction of $1,169,728.67. Following the completion of the sale, the director directly owned 7,242 shares in the company, valued at approximately $1,754,229.66. The trade was a 40.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas Richard Deschutter sold 5,056 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $239.55, for a total transaction of $1,211,164.80. Following the sale, the insider owned 21,167 shares of the company's stock, valued at approximately $5,070,554.85. This represents a 19.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,048 shares of company stock valued at $4,101,083 in the last quarter. 1.30% of the stock is currently owned by corporate 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.