Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers boosted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 7.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 261,855 shares of the business services provider's stock after acquiring an additional 17,060 shares during the quarter. Rhumbline Advisers owned 0.22% of Broadridge Financial Solutions worth $63,489,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its position in shares of Broadridge Financial Solutions by 50.0% during the fourth 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 raised its position in Broadridge Financial Solutions by 31,011.4% during the first quarter. GAMMA Investing LLC now owns 989,964 shares of the business services provider's stock valued at $240,027,000 after purchasing an additional 986,782 shares during the period. Norges Bank purchased a new position in shares of Broadridge Financial Solutions in the 4th quarter worth approximately $106,904,000. Raymond James Financial Inc. purchased a new position in Broadridge Financial Solutions during the fourth quarter worth $104,466,000. Finally, Corient Private Wealth LLC raised 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 worth $99,186,000 after purchasing an additional 392,695 shares during the period. Institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Trading Up 0.2%

Broadridge Financial Solutions stock traded up $0.57 during trading on Thursday, hitting $244.69. The company had a trading volume of 380,822 shares, compared to its average volume of 523,283. Broadridge Financial Solutions, Inc. has a 1-year low of $192.68 and a 1-year high of $247.01. The company's 50 day simple moving average is $236.20 and its 200-day simple moving average is $234.43. The stock has a market cap of $28.74 billion, a price-to-earnings ratio of 38.29 and a beta of 0.98. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64.

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

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio is presently 52.93%.

Analysts Set New Price Targets

A number of equities analysts have commented on BR shares. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Royal Bank of Canada reissued an "outperform" rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. 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 price objective for the company. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Broadridge Financial Solutions presently has an average rating of "Hold" and an average target price of $250.83.

Insider Activity

In related news, insider Hope M. Jarkowski sold 1,068 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total value of $251,214.96. Following the completion of the transaction, the insider now directly owns 1,070 shares of the company's stock, valued at $251,685.40. This represents a 49.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Timothy C. Gokey sold 95,956 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $235.43, for a total value of $22,590,921.08. Following the transaction, the chief executive officer now directly owns 169,788 shares in the company, valued at approximately $39,973,188.84. The trade was a 36.11% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 136,429 shares of company stock worth $32,202,256. 1.30% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Company 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.