Wellington Management Group LLP Purchases 1,026 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

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

Several other large investors have also recently bought and sold shares of the company. Chancellor Financial Group WB LP bought a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth $393,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Broadridge Financial Solutions by 4.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 20,258 shares of the business services provider's stock worth $4,580,000 after acquiring an additional 865 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth $9,385,000. Menard Financial Group LLC lifted its holdings in shares of Broadridge Financial Solutions by 4.4% during the 4th quarter. Menard Financial Group LLC now owns 4,086 shares of the business services provider's stock worth $924,000 after acquiring an additional 172 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth $25,233,000. 90.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BR. Royal Bank of Canada reaffirmed an "outperform" rating and set a $259.00 price objective on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Needham & Company LLC began 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. Finally, Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $250.83.

Insiders Place Their Bets

In other news, insider Hope M. Jarkowski sold 1,068 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total value of $251,214.96. Following the transaction, the insider now owns 1,070 shares in the company, valued at approximately $251,685.40. This represents a 49.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Thomas P. Carey sold 3,607 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $237.26, for a total transaction of $855,796.82. Following the completion of the transaction, the vice president now owns 6,077 shares in the company, valued at approximately $1,441,829.02. This represents a 37.25% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 114,072 shares of company stock worth $26,943,219. 1.30% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Trading Up 0.2%

BR opened at $245.45 on Friday. The business has a 50 day simple moving average of $236.25 and a two-hundred day simple moving average of $234.69. The firm has a market capitalization of $28.83 billion, a price-to-earnings ratio of 38.41 and a beta of 0.98. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. Broadridge Financial Solutions, Inc. has a one year low of $192.68 and a one year high of $247.01.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.03. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The company had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter in the previous year, the company earned $2.23 earnings per share. Broadridge Financial Solutions's quarterly revenue was up 5.0% on a year-over-year basis. Analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.43%. The ex-dividend date is Thursday, June 12th. Broadridge Financial Solutions's payout ratio is currently 52.93%.

Broadridge Financial Solutions 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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