Lyell Wealth Management LP Increases Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Key Points

• Lyell Wealth Management LP increased its stake in Broadridge Financial Solutions by 20.1%, holding shares valued at $8.73 million as of the latest SEC filing.
• Institutional investors control 90.03% of Broadridge Financial Solutions' stock with significant increases in holdings reported by firms such as Price T Rowe Associates and Geode Capital Management.
• Broadridge recently announced a quarterly dividend of $0.88 per share, equating to an annual yield of 1.43% and a payout ratio of 52.93%.

Lyell Wealth Management LP grew its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 20.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,001 shares of the business services provider's stock after buying an additional 6,024 shares during the quarter. Lyell Wealth Management LP's holdings in Broadridge Financial Solutions were worth $8,729,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Menard Financial Group LLC raised its stake in Broadridge Financial Solutions by 15.6% during the 1st quarter. Menard Financial Group LLC now owns 4,725 shares of the business services provider's stock valued at $1,104,000 after buying an additional 639 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of Broadridge Financial Solutions by 4.1% during the 1st quarter. Natixis Advisors LLC now owns 117,682 shares of the business services provider's stock valued at $28,533,000 after purchasing an additional 4,638 shares during the last quarter. Woodley Farra Manion Portfolio Management Inc. lifted its holdings in shares of Broadridge Financial Solutions by 2.4% in the 1st quarter. Woodley Farra Manion Portfolio Management Inc. now owns 18,705 shares of the business services provider's stock valued at $4,551,000 after acquiring an additional 438 shares during the last quarter. Arkadios Wealth Advisors bought a new position in shares of Broadridge Financial Solutions in the 1st quarter valued at about $244,000. Finally, Harvest Fund Management Co. Ltd lifted its stake in Broadridge Financial Solutions by 193.1% in the first quarter. Harvest Fund Management Co. Ltd now owns 982 shares of the business services provider's stock worth $238,000 after purchasing an additional 647 shares during the last quarter. 90.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BR. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Royal Bank Of Canada reiterated an "outperform" rating and set a $259.00 target price on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Finally, Needham & Company LLC initiated coverage on shares of Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $250.83.

Insider Transactions at Broadridge Financial Solutions

In other news, Director Maura A. Markus sold 3,556 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total value of $864,392.48. Following the transaction, the director directly owned 30,892 shares in the company, valued at $7,509,227.36. This trade represents a 10.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Douglas Richard Deschutter sold 5,056 shares of Broadridge Financial Solutions stock in a transaction dated 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 directly owned 21,167 shares in the company, valued at $5,070,554.85. This trade represents a 19.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,116 shares of company stock worth $4,352,298. 1.30% of the stock is owned by insiders.

Broadridge Financial Solutions Stock Performance

NYSE BR traded down $2.90 on Friday, reaching $244.61. The stock had a trading volume of 534,573 shares, compared to its average volume of 756,417. The company has a market cap of $28.73 billion, a P/E ratio of 28.78 and a beta of 0.94. The firm has a fifty day moving average of $241.40 and a two-hundred day moving average of $237.85. Broadridge Financial Solutions, Inc. has a 1-year low of $206.29 and a 1-year high of $257.65. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.32 and a quick ratio of 1.32.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, beating analysts' consensus estimates of $2.41 by $0.03. The firm had revenue of $1.81 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.23 earnings per share. On average, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

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

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.