Wellington Management Group LLP Has $1.05 Million Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Wellington Management Group LLP lifted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 28.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,636 shares of the business services provider's stock after buying an additional 1,026 shares during the quarter. Wellington Management Group LLP's holdings in Broadridge Financial Solutions were worth $1,048,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Minot DeBlois Advisors LLC bought a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth about $34,000. Gen Wealth Partners Inc acquired a new stake in Broadridge Financial Solutions in the fourth quarter valued at $36,000. Global X Japan Co. Ltd. bought a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at about $41,000. Curio Wealth LLC bought a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at about $45,000. Finally, Promus Capital LLC acquired a new position in shares of Broadridge Financial Solutions during the 4th quarter worth about $52,000. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Price Performance

Shares of BR stock traded down $0.79 on Tuesday, reaching $242.92. The company had a trading volume of 369,796 shares, compared to its average volume of 523,388. The business's 50-day moving average is $236.26 and its 200 day moving average is $234.96. Broadridge Financial Solutions, Inc. has a one year low of $192.68 and a one year high of $247.01. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $28.53 billion, a PE ratio of 38.02 and a beta of 0.96.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, beating analysts' consensus estimates 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 11.36% and a return on equity of 44.40%. The company's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $2.23 earnings per share. Equities research 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 will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be given 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 1.45%. Broadridge Financial Solutions's dividend payout ratio is currently 52.93%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, insider Hope M. Jarkowski sold 1,068 shares of the firm's 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 transaction, the insider now owns 1,070 shares of the company's stock, valued at approximately $251,685.40. This trade represents a 49.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Maura A. Markus sold 3,556 shares of the firm's stock in a transaction 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 now directly owns 30,892 shares of the company's stock, valued at approximately $7,509,227.36. This represents a 10.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,116 shares of company stock valued at $4,352,298 in the last 90 days. Corporate insiders own 1.30% of the company's stock.

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.