Suncoast Equity Management Increases Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Suncoast Equity Management raised its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 5.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,371 shares of the business services provider's stock after buying an additional 1,445 shares during the period. Broadridge Financial Solutions comprises about 0.7% of Suncoast Equity Management's investment portfolio, making the stock its 23rd biggest holding. Suncoast Equity Management's holdings in Broadridge Financial Solutions were worth $6,636,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC boosted its position in Broadridge Financial Solutions by 2,620.0% during the 1st quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock valued at $33,000 after buying an additional 131 shares during the period. Minot DeBlois Advisors LLC purchased a new stake in Broadridge Financial Solutions during the 4th quarter valued at $34,000. Gen Wealth Partners Inc purchased a new stake in Broadridge Financial Solutions during the 4th quarter valued at $36,000. Curio Wealth LLC purchased a new stake in Broadridge Financial Solutions during the 4th quarter valued at $45,000. Finally, Promus Capital LLC purchased a new stake in Broadridge Financial Solutions during the 4th quarter valued at $52,000. Hedge funds and other institutional investors own 90.03% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Royal Bank Of Canada reiterated an "outperform" rating and set a $259.00 target price on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Needham & Company LLC assumed coverage on Broadridge Financial Solutions in a report on Tuesday, May 6th. They set a "buy" rating and a $300.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $250.83.

Broadridge Financial Solutions Stock Down 0.6%

Shares of Broadridge Financial Solutions stock opened at $236.37 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.32 and a quick ratio of 1.32. The company has a 50-day moving average of $238.36 and a 200 day moving average of $235.15. The firm has a market cap of $27.76 billion, a price-to-earnings ratio of 35.54 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.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.03. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.65% and a return on equity of 44.82%. Broadridge Financial Solutions's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the business earned $2.23 EPS. As a group, sell-side analysts anticipate 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. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a yield of 1.49%. Broadridge Financial Solutions's dividend payout ratio is currently 52.93%.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 3,607 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total transaction of $855,796.82. Following the completion of the sale, the vice president now directly owns 6,077 shares in the company, valued at approximately $1,441,829.02. This trade represents a 37.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas Richard Deschutter sold 5,056 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $239.55, for a total transaction of $1,211,164.80. Following the sale, the insider now owns 21,167 shares of the company's stock, valued at approximately $5,070,554.85. This represents a 19.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,116 shares of company stock worth $4,352,298. 1.30% of the stock is 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.

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