Net Worth Advisory Group Buys New Shares in Broadridge Financial Solutions, Inc. (NYSE:BR)

Net Worth Advisory Group purchased a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,251 shares of the business services provider's stock, valued at approximately $303,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BR. Price T Rowe Associates Inc. MD increased its holdings in Broadridge Financial Solutions by 50.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider's stock valued at $804,952,000 after purchasing an additional 1,186,555 shares in the last quarter. GAMMA Investing LLC boosted its position in Broadridge Financial Solutions by 31,011.4% in the 1st quarter. GAMMA Investing LLC now owns 989,964 shares of the business services provider's stock valued at $240,027,000 after buying an additional 986,782 shares during the last quarter. Norges Bank bought a new position in Broadridge Financial Solutions in the 4th quarter valued at $106,904,000. Raymond James Financial Inc. bought a new position in Broadridge Financial Solutions in the 4th quarter valued at $104,466,000. Finally, Corient Private Wealth LLC boosted its position in Broadridge Financial Solutions by 882.9% in the 4th quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider's stock valued at $99,186,000 after buying an additional 392,695 shares during the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Trading Down 1.2%

BR stock traded down $2.89 during midday trading on Friday, hitting $236.94. 368,038 shares of the company's stock were exchanged, compared to its average volume of 525,399. The stock's fifty day moving average price is $237.39 and its 200-day moving average price is $235.04. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. The company has a market cap of $27.83 billion, a PE ratio of 37.08 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a one year low of $193.85 and a one year high of $247.01.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.03. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The company's revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.23 earnings per share. Research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th will be issued 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 1.49%. Broadridge Financial Solutions's dividend payout ratio is presently 52.93%.

Analyst Ratings Changes

A number of research analysts have commented on BR shares. Wall Street Zen upgraded 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 issued a $259.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Finally, Needham & Company LLC started coverage on Broadridge Financial Solutions in a research report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Broadridge Financial Solutions presently has an average rating of "Hold" and a consensus target price of $250.83.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,556 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total value of $864,392.48. Following the sale, the director now owns 30,892 shares of the company's stock, valued at $7,509,227.36. This trade represents a 10.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Pamela L. Carter sold 4,829 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $242.23, for a total value of $1,169,728.67. Following the completion of the sale, the director now directly owns 7,242 shares in the company, valued at $1,754,229.66. This represents a 40.00% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,116 shares of company stock worth $4,352,298. Corporate insiders own 1.30% of the company's stock.

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.