Pandora Wealth Inc. Purchases Shares of 3,175 Broadridge Financial Solutions, Inc. (NYSE:BR)

Key Points

• Pandora Wealth Inc. acquired 3,175 shares of Broadridge Financial Solutions, Inc., valued at approximately $770,000, in the first quarter.
• Multiple institutional investors, including Golden State Wealth Management and Whipplewood Advisors, have recently increased their stakes in Broadridge Financial Solutions, indicating strong interest in the company.
• Broadridge announced a quarterly dividend increase from $0.88 to $0.975, reflecting its commitment to returning value to shareholders with an annualized dividend yield of 1.5%.

Pandora Wealth Inc. purchased a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,175 shares of the business services provider's stock, valued at approximately $770,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new stake in shares of Broadridge Financial Solutions in the first quarter worth about $29,000. Whipplewood Advisors LLC boosted its position in shares of Broadridge Financial Solutions by 2,620.0% in the first quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock worth $33,000 after buying an additional 131 shares during the period. Continuum Advisory LLC lifted its stake in shares of Broadridge Financial Solutions by 48.4% in 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 in the last quarter. Olde Wealth Management LLC acquired a new position in shares of Broadridge Financial Solutions in the first quarter worth about $36,000. Finally, Minot DeBlois Advisors LLC acquired a new position in shares of Broadridge Financial Solutions in the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 90.03% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BR shares. Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Royal Bank Of Canada restated an "outperform" rating and set a $259.00 price objective on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. UBS Group upped their price objective on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a "neutral" rating in a research note on Friday. Needham & Company LLC upped their price objective on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Morgan Stanley upped their price objective on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an "equal weight" rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of "Hold" and a consensus target price of $261.50.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 3,607 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $237.26, for a total transaction of $855,796.82. Following the transaction, the vice president directly owned 6,077 shares in the company, valued at $1,441,829.02. This trade represents a 37.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas Richard Deschutter sold 5,056 shares of the firm's stock in a transaction dated 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 transaction, the insider owned 21,167 shares in the company, valued at approximately $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. Insiders have sold a total of 17,048 shares of company stock valued at $4,101,083 in the last three months. 1.30% of the stock is currently owned by insiders.

Broadridge Financial Solutions Price Performance

BR opened at $266.19 on Friday. The stock has a fifty day moving average of $243.67 and a 200-day moving average of $238.95. The firm has a market capitalization of $31.18 billion, a P/E ratio of 37.54 and a beta of 0.94. Broadridge Financial Solutions, Inc. has a 12-month low of $206.29 and a 12-month high of $271.91. The company has a quick ratio of 1.32, a current ratio of 0.98 and a debt-to-equity ratio of 1.04.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its earnings results on Tuesday, August 5th. The business services provider reported $3.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.51 by $0.04. The company had revenue of $2.07 billion during 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 company's revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.50 earnings per share. Equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Thursday, September 11th will be issued a dividend of $0.975 per share. This is a positive change from Broadridge Financial Solutions's previous quarterly dividend of $0.88. This represents a $3.90 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Thursday, September 11th. Broadridge Financial Solutions's dividend payout ratio is 49.65%.

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.

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