Janney Montgomery Scott LLC Buys New Shares in Broadridge Financial Solutions, Inc. (NYSE:BR)

Janney Montgomery Scott LLC acquired a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,656 shares of the business services provider's stock, valued at approximately $3,069,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of BR. Nicolet Advisory Services LLC grew its stake in Broadridge Financial Solutions by 4.8% in the fourth quarter. Nicolet Advisory Services LLC now owns 1,010 shares of the business services provider's stock worth $224,000 after purchasing an additional 46 shares in the last quarter. Advisors Capital Management LLC increased its holdings in shares of Broadridge Financial Solutions by 3.5% in the 4th quarter. Advisors Capital Management LLC now owns 1,440 shares of the business services provider's stock valued at $326,000 after acquiring an additional 49 shares during the last quarter. TCTC Holdings LLC increased its holdings in shares of Broadridge Financial Solutions by 0.9% in the 4th quarter. TCTC Holdings LLC now owns 5,979 shares of the business services provider's stock valued at $1,352,000 after acquiring an additional 52 shares during the last quarter. Mindset Wealth Management LLC raised its position in shares of Broadridge Financial Solutions by 2.8% during the 4th quarter. Mindset Wealth Management LLC now owns 1,971 shares of the business services provider's stock valued at $446,000 after acquiring an additional 54 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC lifted its stake in Broadridge Financial Solutions by 2.6% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 2,307 shares of the business services provider's stock worth $522,000 after purchasing an additional 59 shares during the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,068 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total value of $251,214.96. Following the completion of the sale, the insider now directly owns 1,070 shares in the company, valued at $251,685.40. This represents a 49.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Douglas Richard Deschutter sold 5,056 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total value of $1,211,164.80. Following the completion of the sale, the insider now directly owns 21,167 shares in the company, valued at $5,070,554.85. This represents a 19.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,116 shares of company stock worth $4,352,298 over the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Stock Performance

NYSE BR traded down $3.54 on Wednesday, hitting $238.26. The stock had a trading volume of 548,350 shares, compared to its average volume of 524,669. Broadridge Financial Solutions, Inc. has a one year low of $195.64 and a one year high of $247.01. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.44. The stock has a market cap of $27.99 billion, a price-to-earnings ratio of 35.83 and a beta of 0.96. The company's 50-day moving average is $238.56 and its two-hundred day moving average is $235.25.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.03. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. The business 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% on a year-over-year basis. On average, analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio (DPR) is 52.93%.

Wall Street Analyst Weigh In

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