Mizuho Securities USA LLC Sells 1,708 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Key Points

• Mizuho Securities USA LLC decreased its holdings in Broadridge Financial Solutions by 15.4% during the 1st quarter, owning 9,370 shares valued at approximately $2.27 million after selling 1,708 shares.
• Broadridge recently increased its quarterly dividend from $0.88 to $0.975 per share, marking an annualized dividend of $3.90 with a yield of 1.5%.
• Broadridge Financial Solutions reported earnings of $3.55 per share for the latest quarter, surpassing estimates of $3.51, with a year-over-year revenue increase of 6.2%.

Mizuho Securities USA LLC lessened its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 15.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 9,370 shares of the business services provider's stock after selling 1,708 shares during the period. Mizuho Securities USA LLC's holdings in Broadridge Financial Solutions were worth $2,272,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in BR. Golden State Wealth Management LLC purchased a new position in shares of Broadridge Financial Solutions during the first quarter valued at approximately $29,000. Whipplewood Advisors LLC lifted its holdings in Broadridge Financial Solutions by 2,620.0% during the first quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock worth $33,000 after acquiring an additional 131 shares during the period. Minot DeBlois Advisors LLC bought a new stake in Broadridge Financial Solutions during the fourth quarter worth $34,000. Continuum Advisory LLC lifted its holdings in Broadridge Financial Solutions by 48.4% during the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock worth $34,000 after acquiring an additional 46 shares during the period. Finally, Gen Wealth Partners Inc bought a new stake in Broadridge Financial Solutions during the fourth quarter worth $36,000. Institutional investors and hedge funds own 90.03% of the company's stock.

Broadridge Financial Solutions Stock Performance

Shares of BR traded up $1.19 during mid-day trading on Friday, hitting $260.42. The stock had a trading volume of 803,783 shares, compared to its average volume of 993,782. The firm has a market cap of $30.50 billion, a P/E ratio of 36.73 and a beta of 0.94. The business has a fifty day moving average price of $245.40 and a 200-day moving average price of $239.78. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.98 and a quick ratio of 0.98. Broadridge Financial Solutions, Inc. has a 52 week low of $206.95 and a 52 week high of $271.91.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its earnings results on Tuesday, August 5th. The business services provider reported $3.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.04. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.06 billion. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%. The business's revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.50 earnings per share. On average, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Thursday, September 11th will be paid a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Thursday, September 11th. This is a positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.88. Broadridge Financial Solutions's dividend payout ratio is presently 55.01%.

Insider Activity at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 7,036 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the sale, the president directly owned 48,813 shares in the company, valued at approximately $12,824,151.36. The trade was a 12.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Douglas Richard Deschutter sold 5,056 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $239.55, for a total value of $1,211,164.80. Following the sale, the insider owned 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 disclosure for this sale can be found here. Insiders sold a total of 155,299 shares of company stock worth $40,196,503 in the last 90 days. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Morgan Stanley lifted their price target on Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Needham & Company LLC lifted their price target on Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Royal Bank Of Canada reiterated an "outperform" rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Finally, UBS Group lifted their price target on Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Broadridge Financial Solutions presently has an average rating of "Hold" and a consensus target price of $261.50.

Broadridge Financial Solutions 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.