Wendell David Associates Inc. Has $24.53 Million Holdings in Broadridge Financial Solutions, Inc. $BR

Key Points

• Wendell David Associates Inc. reduced its holdings in Broadridge Financial Solutions by 1.4% in Q2, owning 100,929 shares valued at approximately $24.53 million, making it the firm's 10th largest investment.
• Several large institutional investors, including Vanguard Group Inc. and Ameriprise Financial Inc., have increased their stakes in Broadridge, reflecting strong interest with institutional ownership now at 90.03%.
• Broadridge recently announced a quarterly dividend increase to $0.975 per share, up from the previous $0.88, with a current dividend yield of 1.7%.

Wendell David Associates Inc. lowered its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 1.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,929 shares of the business services provider's stock after selling 1,485 shares during the quarter. Broadridge Financial Solutions accounts for approximately 2.5% of Wendell David Associates Inc.'s investment portfolio, making the stock its 10th largest position. Wendell David Associates Inc. owned approximately 0.09% of Broadridge Financial Solutions worth $24,529,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Broadridge Financial Solutions by 3.1% during the first quarter. Vanguard Group Inc. now owns 14,733,147 shares of the business services provider's stock valued at $3,572,199,000 after buying an additional 438,381 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Broadridge Financial Solutions by 2.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,689,607 shares of the business services provider's stock valued at $409,662,000 after buying an additional 39,846 shares in the last quarter. Bahl & Gaynor Inc. boosted its stake in Broadridge Financial Solutions by 3.4% during the first quarter. Bahl & Gaynor Inc. now owns 1,168,351 shares of the business services provider's stock valued at $283,278,000 after buying an additional 38,527 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Broadridge Financial Solutions by 3.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,076,761 shares of the business services provider's stock valued at $261,071,000 after buying an additional 33,635 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Broadridge Financial Solutions by 577.9% during the first quarter. Ameriprise Financial Inc. now owns 1,035,938 shares of the business services provider's stock valued at $251,513,000 after purchasing an additional 883,125 shares during the last quarter. Institutional investors own 90.03% of the company's stock.

Insider Transactions at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 7,036 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the completion of the sale, the president directly owned 48,813 shares of the company's stock, valued at $12,824,151.36. This trade represents a 12.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy C. Gokey sold 5,674 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $258.37, for a total value of $1,465,991.38. Following the sale, the chief executive officer directly owned 143,285 shares of the company's stock, valued at $37,020,545.45. This trade represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,532 shares of company stock valued at $38,417,208 over the last ninety days. Company insiders own 1.10% of the company's stock.

Broadridge Financial Solutions Stock Up 1.1%

Shares of Broadridge Financial Solutions stock opened at $228.97 on Friday. The stock has a 50-day moving average price of $246.88 and a 200 day moving average price of $242.17. The company has a market cap of $26.73 billion, a P/E ratio of 32.30 and a beta of 0.95. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.04. Broadridge Financial Solutions, Inc. has a 1 year low of $208.20 and a 1 year high of $271.91.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 earnings per share (EPS) for the quarter. The firm had revenue of $1.05 billion during the quarter. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%. As a group, analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were paid a dividend of $0.975 per share. This is a boost from Broadridge Financial Solutions's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Thursday, September 11th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.7%. Broadridge Financial Solutions's dividend payout ratio (DPR) is 55.01%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BR shares. Morgan Stanley upped their target price on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Broadridge Financial Solutions in a report on Wednesday, October 8th. UBS Group upped their target price on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a "neutral" rating in a report on Friday, August 8th. Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Saturday, October 4th. Finally, Needham & Company LLC upped their target price on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $261.50.

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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