Simplicity Wealth LLC Buys Shares of 6,403 Broadridge Financial Solutions, Inc. (NYSE:BR)

Simplicity Wealth LLC purchased a new position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,403 shares of the business services provider's stock, valued at approximately $1,552,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Whipplewood Advisors LLC lifted its holdings 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 valued at $33,000 after purchasing an additional 131 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new stake in shares of Broadridge Financial Solutions during the fourth quarter valued at approximately $34,000. Gen Wealth Partners Inc purchased a new stake in shares of Broadridge Financial Solutions during the fourth quarter valued at approximately $36,000. Curio Wealth LLC purchased a new stake in shares of Broadridge Financial Solutions during the fourth quarter valued at approximately $45,000. Finally, Promus Capital LLC purchased a new stake in shares of Broadridge Financial Solutions during the fourth quarter valued at approximately $52,000. Institutional investors own 90.03% of the company's stock.

Wall Street Analyst Weigh In

BR has been the subject of a number of research analyst reports. Needham & Company LLC initiated coverage on Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price target for the company. Royal Bank of Canada reaffirmed 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, Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Broadridge Financial Solutions presently has an average rating of "Hold" and a consensus price target of $250.83.

Broadridge Financial Solutions Stock Down 0.6%

Shares of BR traded down $1.42 on Thursday, hitting $239.76. 388,414 shares of the stock traded hands, compared to its average volume of 524,132. The company has a market capitalization of $28.16 billion, a PE ratio of 37.52 and a beta of 0.96. 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 business has a 50 day simple moving average of $236.97 and a 200 day simple moving average of $235.04. Broadridge Financial Solutions, Inc. has a one year low of $192.68 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 EPS for the quarter, topping analysts' consensus estimates of $2.41 by $0.03. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the firm posted $2.23 EPS. The firm's revenue was up 5.0% on a year-over-year basis. As a group, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share 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. Stockholders of record on Thursday, June 12th will be given a dividend of $0.88 per share. The ex-dividend date is Thursday, June 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.47%. Broadridge Financial Solutions's payout ratio is 52.93%.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,556 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were 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 in the company, valued at $7,509,227.36. The trade was a 10.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas Richard Deschutter sold 5,056 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total transaction of $1,211,164.80. Following the completion of the sale, the insider now owns 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. In the last quarter, insiders have sold 18,116 shares of company stock worth $4,352,298. 1.30% of the stock is owned by corporate insiders.

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.