MBE Wealth Management LLC Buys New Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

MBE Wealth Management LLC acquired a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,471 shares of the business services provider's stock, valued at approximately $357,000.

Several other hedge funds have also recently added to or reduced their stakes in BR. Whipplewood Advisors LLC raised its position 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 worth $33,000 after purchasing an additional 131 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth about $34,000. Gen Wealth Partners Inc bought a new position in Broadridge Financial Solutions in the fourth quarter valued at approximately $36,000. Curio Wealth LLC acquired a new position in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $45,000. Finally, Promus Capital LLC bought a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth $52,000. Institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Stock Down 1.5%

Shares of NYSE:BR traded down $3.54 during midday trading on Wednesday, reaching $238.26. The company had a trading volume of 548,350 shares, compared to its average volume of 525,298. Broadridge Financial Solutions, Inc. has a 1-year low of $195.64 and a 1-year high of $247.01. The stock has a market cap of $27.99 billion, a PE ratio of 35.83 and a beta of 0.96. 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 business's 50 day moving average price is $238.62 and its 200 day moving average price is $235.27.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter in the prior year, the business posted $2.23 EPS. The business's revenue was up 5.0% compared to the same quarter last year. Research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $3.52 annualized dividend and a yield of 1.48%. Broadridge Financial Solutions's dividend payout ratio is 52.93%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $259.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, Needham & Company LLC began coverage on Broadridge Financial Solutions in a research report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $250.83.

Insider Transactions at Broadridge Financial Solutions

In other news, 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 now directly owns 21,167 shares in the company, valued at approximately $5,070,554.85. The trade was a 19.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Pamela L. Carter sold 4,829 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $242.23, for a total transaction of $1,169,728.67. Following the transaction, the director now owns 7,242 shares in the company, valued at approximately $1,754,229.66. This trade represents a 40.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,116 shares of company stock valued at $4,352,298. Company insiders own 1.30% of the company's stock.

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.