Financial Harvest LLC Makes New $813,000 Investment in Broadridge Financial Solutions, Inc. (NYSE:BR)

Financial Harvest LLC purchased a new position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,352 shares of the business services provider's stock, valued at approximately $813,000. Broadridge Financial Solutions makes up 0.5% of Financial Harvest LLC's investment portfolio, making the stock its 17th largest holding.

Other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in shares of Broadridge Financial Solutions by 50.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider's stock valued at $804,952,000 after purchasing an additional 1,186,555 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Broadridge Financial Solutions by 31,011.4% during the 1st quarter. GAMMA Investing LLC now owns 989,964 shares of the business services provider's stock valued at $240,027,000 after purchasing an additional 986,782 shares during the last quarter. Norges Bank purchased a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at about $106,904,000. Northern Trust Corp increased its position in shares of Broadridge Financial Solutions by 24.4% during the 4th quarter. Northern Trust Corp now owns 1,604,783 shares of the business services provider's stock valued at $362,825,000 after purchasing an additional 314,323 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Broadridge Financial Solutions by 156.8% during the 1st quarter. Principal Financial Group Inc. now owns 404,830 shares of the business services provider's stock valued at $98,155,000 after purchasing an additional 247,157 shares during the last quarter. Institutional investors own 90.03% of the company's stock.

Insiders Place Their Bets

In related news, insider Hope M. Jarkowski sold 1,068 shares of Broadridge Financial Solutions 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 owned 1,070 shares of the company's stock, valued at approximately $251,685.40. This trade represents a 49.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas Richard Deschutter sold 5,056 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $239.55, for a total value of $1,211,164.80. Following the completion of the transaction, the insider owned 21,167 shares in the company, valued at $5,070,554.85. The trade was a 19.28% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,116 shares of company stock worth $4,352,298. Corporate insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Stock Up 0.8%

Broadridge Financial Solutions stock traded up $1.94 during trading hours on Friday, reaching $239.13. The stock had a trading volume of 494,765 shares, compared to its average volume of 526,416. Broadridge Financial Solutions, Inc. has a 52 week low of $201.67 and a 52 week high of $247.01. The company has a market cap of $28.09 billion, a price-to-earnings 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 business's 50 day moving average price is $239.76 and its 200-day moving average price is $236.48.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, topping analysts' consensus estimates of $2.41 by $0.03. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.23 earnings per share. Sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current 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 $0.88 dividend. The ex-dividend date was Thursday, June 12th. This represents a $3.52 annualized dividend and a yield of 1.47%. Broadridge Financial Solutions's dividend payout ratio is presently 52.93%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BR. Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Needham & Company LLC started coverage on shares of Broadridge Financial Solutions in a report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 target price for the company. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $259.00 target price on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Broadridge Financial Solutions has a consensus rating of "Hold" and an average target price of $250.83.

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.