Thurston Springer Miller Herd & Titak Inc. Increases Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Thurston Springer Miller Herd & Titak Inc. raised its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 26.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,571 shares of the business services provider's stock after acquiring an additional 2,803 shares during the period. Thurston Springer Miller Herd & Titak Inc.'s holdings in Broadridge Financial Solutions were worth $3,290,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other news, 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 value of $1,211,164.80. Following the completion of the transaction, the insider now owns 21,167 shares of the company's stock, valued at $5,070,554.85. The trade was a 19.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Maura A. Markus sold 3,556 shares of the company's 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 completion of the sale, the director now owns 30,892 shares in the company, valued at approximately $7,509,227.36. This represents a 10.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 114,072 shares of company stock valued at $26,943,219 over the last quarter. 1.30% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Stock Up 0.2%

Shares of BR traded up $0.56 during midday trading on Friday, hitting $245.45. 309,800 shares of the company's stock traded hands, compared to its average volume of 522,652. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $28.83 billion, a price-to-earnings ratio of 38.41 and a beta of 0.98. Broadridge Financial Solutions, Inc. has a 1 year low of $192.68 and a 1 year high of $247.57. The firm's fifty day moving average is $236.24 and its 200-day moving average is $234.55.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.03. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. Broadridge Financial Solutions's revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm 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 year.

Broadridge Financial Solutions Dividend Announcement

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 paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Thursday, June 12th. Broadridge Financial Solutions's payout ratio is 52.93%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BR shares. Royal Bank of Canada restated an "outperform" rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, Needham & Company LLC assumed coverage on Broadridge Financial Solutions in a research note on Tuesday, May 6th. They issued a "buy" rating and a $300.00 target price on the stock. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $250.83.

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.