GAMMA Investing LLC Buys 986,782 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

GAMMA Investing LLC raised its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 31,011.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 989,964 shares of the business services provider's stock after purchasing an additional 986,782 shares during the quarter. GAMMA Investing LLC owned 0.85% of Broadridge Financial Solutions worth $240,027,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of BR. Minot DeBlois Advisors LLC bought a new position in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $34,000. Gen Wealth Partners Inc acquired a new position in Broadridge Financial Solutions during the fourth quarter worth $36,000. Global X Japan Co. Ltd. bought a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at $41,000. Curio Wealth LLC bought a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at $45,000. Finally, Promus Capital LLC acquired a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at $52,000. 90.03% of the stock is currently owned by institutional investors.

Insider Activity

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 5,056 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now directly owns 21,167 shares of the company's stock, valued at approximately $5,070,554.85. This trade represents a 19.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Christopher John Perry sold 22,357 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the sale, the president now owns 52,524 shares of the company's stock, valued at $12,355,220.52. The trade was a 29.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 132,873 shares of company stock valued at $31,337,863 over the last 90 days. 1.30% of the stock is owned by company insiders.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR traded up $0.47 during trading on Wednesday, reaching $244.48. The company had a trading volume of 195,863 shares, compared to its average volume of 545,893. Broadridge Financial Solutions, Inc. has a 52 week low of $192.68 and a 52 week high of $247.01. The business's 50 day moving average price is $236.07 and its 200-day moving average price is $234.36. The stock has a market cap of $28.72 billion, a PE ratio of 38.26 and a beta of 0.98. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35.

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, beating analysts' consensus estimates of $2.41 by $0.03. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the business posted $2.23 earnings per share. Broadridge Financial Solutions's revenue for the quarter was up 5.0% compared to the same quarter last year. Analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.44%. Broadridge Financial Solutions's payout ratio is currently 52.93%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BR. Needham & Company LLC began coverage on shares of Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a "buy" rating and a $300.00 target price for the company. Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. 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 analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Broadridge Financial Solutions has an average rating of "Hold" and a consensus price target of $250.83.

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.