Somerville Kurt F Makes New $305,000 Investment in Broadridge Financial Solutions, Inc. (NYSE:BR)

Somerville Kurt F purchased 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 filing with the SEC. The institutional investor purchased 1,256 shares of the business services provider's stock, valued at approximately $305,000.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC bought a new position in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $580,000. Whittier Trust Co. of Nevada Inc. raised its holdings in Broadridge Financial Solutions by 14.8% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 713 shares of the business services provider's stock worth $161,000 after acquiring an additional 92 shares during the period. Mizuho Securities USA LLC lifted its position in Broadridge Financial Solutions by 46.4% during the 4th quarter. Mizuho Securities USA LLC now owns 11,078 shares of the business services provider's stock worth $2,505,000 after acquiring an additional 3,510 shares during the last quarter. American Century Companies Inc. lifted its position in Broadridge Financial Solutions by 51.0% during the 4th quarter. American Century Companies Inc. now owns 252,984 shares of the business services provider's stock worth $57,197,000 after acquiring an additional 85,463 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Broadridge Financial Solutions by 2.6% during the fourth quarter. Sei Investments Co. now owns 30,034 shares of the business services provider's stock valued at $6,790,000 after acquiring an additional 763 shares during the period. Institutional investors and hedge funds own 90.03% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BR. Needham & Company LLC started coverage on Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price objective for the company. Royal Bank Of Canada reissued an "outperform" rating and issued a $259.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Finally, 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. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of "Hold" and a consensus target price of $250.83.

Broadridge Financial Solutions Stock Performance

Shares of BR traded up $10.71 on Thursday, reaching $253.35. 2,123,379 shares of the stock traded hands, compared to its average volume of 476,147. The firm has a market cap of $29.76 billion, a price-to-earnings ratio of 38.10 and a beta of 0.94. Broadridge Financial Solutions, Inc. has a 12 month low of $203.77 and a 12 month high of $254.97. The stock's 50-day moving average price is $240.09 and its 200-day moving average price is $236.73. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.32 and a quick ratio of 1.32.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, beating 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 net margin of 11.65% and a return on equity of 44.82%. The business's revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.23 EPS. Equities analysts forecast 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 was paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th were given a dividend of $0.88 per share. The ex-dividend date was Thursday, June 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.39%. Broadridge Financial Solutions's dividend payout ratio is currently 52.93%.

Insider Activity at Broadridge Financial Solutions

In related news, insider Douglas Richard Deschutter sold 5,056 shares of the company'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 represents a 19.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Maura A. Markus sold 3,556 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total value of $864,392.48. Following the transaction, the director owned 30,892 shares in the company, valued at approximately $7,509,227.36. This trade represents a 10.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,116 shares of company stock worth $4,352,298. 1.30% of the stock is currently owned by corporate insiders.

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.