Smith Group Asset Management LLC Takes $318,000 Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Smith Group Asset Management LLC purchased a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,310 shares of the business services provider's stock, valued at approximately $318,000.

Several other hedge funds have also recently added to or reduced their stakes in BR. Vontobel Holding Ltd. increased its holdings in shares of Broadridge Financial Solutions by 6.3% in the 1st quarter. Vontobel Holding Ltd. now owns 7,571 shares of the business services provider's stock valued at $1,836,000 after acquiring an additional 450 shares during the last quarter. Mather Group LLC. boosted its holdings in Broadridge Financial Solutions by 38.6% in the first quarter. Mather Group LLC. now owns 2,700 shares of the business services provider's stock valued at $655,000 after purchasing an additional 752 shares in the last quarter. Smallwood Wealth Investment Management LLC increased its stake in Broadridge Financial Solutions by 367.8% in the first quarter. Smallwood Wealth Investment Management LLC now owns 3,574 shares of the business services provider's stock valued at $867,000 after purchasing an additional 2,810 shares during the last quarter. Koshinski Asset Management Inc. raised its holdings in Broadridge Financial Solutions by 2.6% during the first quarter. Koshinski Asset Management Inc. now owns 5,943 shares of the business services provider's stock worth $1,441,000 after purchasing an additional 153 shares in the last quarter. Finally, MorganRosel Wealth Management LLC lifted its position in shares of Broadridge Financial Solutions by 17.7% during the 1st quarter. MorganRosel Wealth Management LLC now owns 4,000 shares of the business services provider's stock worth $970,000 after buying an additional 602 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company's stock.

Insider Buying and Selling 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 transaction of $864,392.48. Following the sale, the director directly owned 30,892 shares in the company, valued at approximately $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 accessible through the SEC website. Also, VP Thomas P. Carey sold 3,607 shares of Broadridge Financial Solutions 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 owned 6,077 shares of the company's stock, valued at approximately $1,441,829.02. The trade was a 37.25% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,116 shares of company stock worth $4,352,298. 1.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BR shares. Needham & Company LLC assumed coverage on shares of Broadridge Financial Solutions in a research note on Tuesday, May 6th. They set a "buy" rating and a $300.00 price target on the stock. Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $259.00 target price 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $250.83.

Broadridge Financial Solutions Stock Performance

Shares of NYSE BR traded up $1.70 during midday trading on Tuesday, reaching $244.73. 523,135 shares of the company were exchanged, compared to its average volume of 523,801. The stock has a market cap of $28.75 billion, a P/E ratio of 36.80 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a 1 year low of $195.64 and a 1 year high of $247.01. The stock has a fifty day simple moving average of $239.06 and a 200 day simple moving average of $235.39. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.44.

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. The company had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. The firm's revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the firm earned $2.23 EPS. On average, research 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 announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Thursday, June 12th. Broadridge Financial Solutions's payout ratio is 52.93%.

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.