Raiffeisen Bank International AG Takes Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Key Points

• Raiffeisen Bank International AG invested approximately $349,000 to acquire 1,470 shares of Broadridge Financial Solutions, marking a significant new position in the company.
• Broadridge recently declared a quarterly dividend of $0.975 per share, increasing from the previous $0.88, with a dividend yield of 1.5%.
• Wall Street analysts have varied ratings for Broadridge, with five analysts issuing a "hold" rating and three giving a "buy" rating, while the consensus price target stands at $250.83.

Raiffeisen Bank International AG bought 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 (SEC). The firm bought 1,470 shares of the business services provider's stock, valued at approximately $349,000.

Several other institutional investors have also recently made changes to their positions in the business. Liberty Wealth Management LLC acquired a new stake in shares of Broadridge Financial Solutions in the first quarter valued at about $5,059,000. R Squared Ltd grew its position in shares of Broadridge Financial Solutions by 833.3% in the first quarter. R Squared Ltd now owns 840 shares of the business services provider's stock valued at $204,000 after purchasing an additional 750 shares during the period. IFG Advisory LLC grew its position in shares of Broadridge Financial Solutions by 2.3% in the first quarter. IFG Advisory LLC now owns 3,199 shares of the business services provider's stock valued at $776,000 after purchasing an additional 72 shares during the period. Castellan Group grew its position in shares of Broadridge Financial Solutions by 114.7% in the first quarter. Castellan Group now owns 24,170 shares of the business services provider's stock valued at $5,860,000 after purchasing an additional 12,914 shares during the period. Finally, Commerce Bank grew its position in shares of Broadridge Financial Solutions by 20.5% in the first quarter. Commerce Bank now owns 53,809 shares of the business services provider's stock valued at $13,047,000 after purchasing an additional 9,163 shares during the period. Hedge funds and other institutional investors own 90.03% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Broadridge Financial Solutions

In related news, Director Pamela L. Carter sold 4,829 shares of the company's stock in a transaction on 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 owned 7,242 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas P. Carey sold 3,607 shares of the company's stock in a transaction on 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 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. Insiders have sold 17,048 shares of company stock worth $4,101,083 in the last 90 days. Company insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Trading Down 0.1%

BR stock traded down $0.29 during trading on Friday, reaching $266.19. 536,088 shares of the stock were exchanged, compared to its average volume of 585,511. The company has a current ratio of 0.98, a quick ratio of 1.32 and a debt-to-equity ratio of 1.04. The business has a 50 day moving average price of $243.20 and a 200-day moving average price of $238.72. Broadridge Financial Solutions, Inc. has a 1 year low of $206.29 and a 1 year high of $271.91. The firm has a market capitalization of $31.18 billion, a price-to-earnings ratio of 37.54 and a beta of 0.94.

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

Broadridge Financial Solutions Increases Dividend

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