Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 42.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,933 shares of the business services provider's stock after purchasing an additional 8,675 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Broadridge Financial Solutions were worth $7,015,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Curio Wealth LLC purchased a new position in Broadridge Financial Solutions in the 4th quarter worth $45,000. Brighton Jones LLC acquired a new stake in Broadridge Financial Solutions during the 4th quarter valued at approximately $580,000. Proficio Capital Partners LLC acquired a new stake in Broadridge Financial Solutions during the 4th quarter valued at approximately $25,773,000. Wellington Management Group LLP raised its holdings in shares of Broadridge Financial Solutions by 28.4% during the fourth quarter. Wellington Management Group LLP now owns 4,636 shares of the business services provider's stock worth $1,048,000 after purchasing an additional 1,026 shares during the last quarter. Finally, RWA Wealth Partners LLC lifted its position in Broadridge Financial Solutions by 61.4% during the fourth quarter. RWA Wealth Partners LLC now owns 11,080 shares of the business services provider's stock valued at $2,505,000 after purchasing an additional 4,215 shares during the period. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Hope M. Jarkowski sold 1,068 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total transaction of $251,214.96. Following the completion of the sale, the insider now directly owns 1,070 shares of the company's stock, valued at approximately $251,685.40. The trade was a 49.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pamela L. Carter sold 4,829 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $242.23, for a total transaction of $1,169,728.67. Following the completion of the transaction, the director now directly owns 7,242 shares in the company, valued at $1,754,229.66. This trade represents a 40.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,116 shares of company stock valued at $4,352,298 in the last ninety days. Company insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

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

Broadridge Financial Solutions Trading Up 0.2%

Shares of BR traded up $0.42 during midday trading on Friday, reaching $239.59. The company had a trading volume of 527,705 shares, compared to its average volume of 523,819. Broadridge Financial Solutions, Inc. has a 1-year low of $195.64 and a 1-year high of $247.01. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.44. The firm has a 50 day simple moving average of $238.76 and a 200-day simple moving average of $235.33. The stock has a market cap of $28.14 billion, a PE ratio of 36.03 and a beta of 0.96.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, beating the consensus estimate of $2.41 by $0.03. The firm had revenue of $1.81 billion for 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%. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.23 EPS. Research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared 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 1.47%. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 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.