HB Wealth Management LLC Increases Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

HB Wealth Management LLC raised its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 76.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,206 shares of the business services provider's stock after acquiring an additional 2,249 shares during the quarter. HB Wealth Management LLC's holdings in Broadridge Financial Solutions were worth $1,262,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in shares of Broadridge Financial Solutions by 50.0% in the fourth 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 period. GAMMA Investing LLC raised its position in shares of Broadridge Financial Solutions by 31,011.4% in the first 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 period. Norges Bank bought a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $106,904,000. Northern Trust Corp raised its position in shares of Broadridge Financial Solutions by 24.4% in the fourth 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 period. Finally, Principal Financial Group Inc. raised its position in shares of Broadridge Financial Solutions by 156.8% in the first 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 period. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BR has been the topic of several research reports. Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Needham & Company LLC initiated coverage on shares of Broadridge Financial Solutions in a research report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price target on the stock. Finally, 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. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of "Hold" and an average target price of $250.83.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock traded down $2.90 during midday trading on Friday, reaching $244.61. 534,573 shares of the stock were exchanged, compared to its average volume of 568,426. The company's fifty day moving average is $241.25 and its 200-day moving average is $237.73. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market cap of $28.73 billion, a PE ratio of 36.78 and a beta of 0.94. Broadridge Financial Solutions, Inc. has a 52 week low of $206.29 and a 52 week high of $257.65.

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 EPS for the quarter, topping analysts' consensus estimates of $2.41 by $0.03. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.65% and a return on equity of 44.82%. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.23 EPS. On average, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th were issued a $0.88 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.4%. Broadridge Financial Solutions's dividend payout ratio is presently 52.93%.

Insider Transactions at Broadridge Financial Solutions

In other news, Director Maura A. Markus sold 3,556 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total value of $864,392.48. Following the completion of the sale, the director owned 30,892 shares of the company's stock, valued at approximately $7,509,227.36. This represents a 10.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas P. Carey sold 3,607 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total transaction of $855,796.82. Following the completion of the sale, the vice president directly owned 6,077 shares of the company's stock, valued at $1,441,829.02. This trade represents a 37.25% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,116 shares of company stock worth $4,352,298. Company insiders own 1.30% of the company's stock.

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.