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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BR. Golden State Wealth Management LLC acquired a new position in shares of Broadridge Financial Solutions during the first quarter worth approximately $29,000. Whipplewood Advisors LLC boosted its holdings in Broadridge Financial Solutions by 2,620.0% in the 1st quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock valued at $33,000 after purchasing an additional 131 shares during the period. Minot DeBlois Advisors LLC bought a new stake in Broadridge Financial Solutions in the 4th quarter valued at $34,000. Continuum Advisory LLC grew its position in Broadridge Financial Solutions by 48.4% in the 1st 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 last quarter. Finally, Gen Wealth Partners Inc bought a new position in shares of Broadridge Financial Solutions during the 4th quarter worth about $36,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR traded up $3.59 during midday trading on Monday, reaching $248.24. 517,585 shares of the company traded hands, compared to its average volume of 568,004. Broadridge Financial Solutions, Inc. has a 12 month low of $206.29 and a 12 month high of $257.65. 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 stock's 50-day simple moving average is $241.40 and its 200-day simple moving average is $237.96. The firm has a market cap of $29.16 billion, a PE ratio of 37.33 and a beta of 0.94.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its earnings results on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, topping the consensus estimate of $2.41 by $0.03. The company had revenue of $1.81 billion for 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 business's revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.23 earnings per share. As a group, equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal 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 paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio (DPR) is 52.93%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, Director Pamela L. Carter sold 4,829 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $242.23, for a total value of $1,169,728.67. Following the transaction, the director owned 7,242 shares of the company's stock, valued at $1,754,229.66. This represents a 40.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Thomas P. Carey sold 3,607 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $237.26, for a total value of $855,796.82. Following the sale, the vice president directly owned 6,077 shares of the company's stock, valued at approximately $1,441,829.02. This trade represents a 37.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,116 shares of company stock worth $4,352,298. 1.30% of the stock is currently owned by company insiders.

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.