Grove Street Fiduciary LLC Buys Shares of 1,218 Broadridge Financial Solutions, Inc. (NYSE:BR)

Grove Street Fiduciary LLC bought a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,218 shares of the business services provider's stock, valued at approximately $295,000.

Several other hedge funds also recently made changes to their positions in the business. Golden State Wealth Management LLC acquired a new stake in Broadridge Financial Solutions in the first quarter valued at approximately $29,000. Whipplewood Advisors LLC lifted its holdings in shares of Broadridge Financial Solutions by 2,620.0% during the first 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 period. Minot DeBlois Advisors LLC acquired a new position in shares of Broadridge Financial Solutions during the fourth quarter worth $34,000. Continuum Advisory LLC lifted its holdings in shares of Broadridge Financial Solutions by 48.4% during the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock worth $34,000 after purchasing an additional 46 shares during the period. Finally, Gen Wealth Partners Inc acquired a new position in shares of Broadridge Financial Solutions during the fourth quarter worth $36,000. 90.03% of the stock is owned by institutional investors.

Insider Transactions at Broadridge Financial Solutions

In other news, Director Maura A. Markus sold 3,556 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total transaction of $864,392.48. Following the completion of the sale, the director directly owned 30,892 shares of the company's stock, valued at $7,509,227.36. The trade was a 10.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Douglas Richard Deschutter sold 5,056 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total transaction of $1,211,164.80. Following the sale, the insider directly owned 21,167 shares of the company's stock, valued at approximately $5,070,554.85. The trade was a 19.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,116 shares of company stock valued at $4,352,298. 1.30% of the stock is owned by insiders.

Broadridge Financial Solutions Trading Up 0.4%

BR stock traded up $1.06 during midday trading on Friday, hitting $254.05. The stock had a trading volume of 1,815,742 shares, compared to its average volume of 562,551. Broadridge Financial Solutions, Inc. has a 1-year low of $206.29 and a 1-year high of $257.65. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.44. The firm has a market cap of $29.84 billion, a P/E ratio of 38.20 and a beta of 0.94. The business has a fifty day moving average price of $240.35 and a two-hundred day moving average price of $236.93.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted 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. Broadridge Financial Solutions had a net margin of 11.65% and a return on equity of 44.82%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the firm posted $2.23 earnings per share. The business's revenue was up 5.0% compared to the same quarter last year. On average, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio (DPR) is currently 52.93%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BR shares. Needham & Company LLC started coverage on shares of Broadridge Financial Solutions in a report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price target on the stock. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $259.00 price target 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 assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $250.83.

About Broadridge Financial Solutions

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.