Albion Financial Group UT Increases Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Albion Financial Group UT raised its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,960 shares of the business services provider’s stock after purchasing an additional 70 shares during the period. Albion Financial Group UT’s holdings in Broadridge Financial Solutions were worth $606,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BR. New England Research & Management Inc. purchased a new stake in Broadridge Financial Solutions in the first quarter valued at about $1,465,000. Nordea Investment Management AB increased its stake in Broadridge Financial Solutions by 680.1% during the 4th quarter. Nordea Investment Management AB now owns 85,325 shares of the business services provider’s stock valued at $17,584,000 after purchasing an additional 74,387 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Broadridge Financial Solutions in the fourth quarter worth $227,750,000. Bank of Nova Scotia grew its holdings in shares of Broadridge Financial Solutions by 642.3% during the fourth quarter. Bank of Nova Scotia now owns 81,202 shares of the business services provider’s stock valued at $16,707,000 after buying an additional 70,263 shares during the last quarter. Finally, Crown Oak Advisors LLC purchased a new position in Broadridge Financial Solutions in the 4th quarter worth $7,032,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BR has been the subject of several research analyst reports. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. DA Davidson reaffirmed a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Evercore ISI reiterated an “outperform” rating and issued a $230.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $239.00 price objective on shares of Broadridge Financial Solutions in a report on Friday, June 28th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $206.67.

Insider Buying and Selling

In other news, Director Robert N. Duelks sold 3,473 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total transaction of $687,862.38. Following the transaction, the director now owns 22,588 shares of the company’s stock, valued at approximately $4,473,779.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Robert N. Duelks sold 3,473 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total transaction of $687,862.38. Following the sale, the director now owns 22,588 shares of the company’s stock, valued at approximately $4,473,779.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Thomas P. Carey sold 2,500 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.40, for a total value of $501,000.00. Following the completion of the transaction, the vice president now owns 9,361 shares of the company’s stock, valued at $1,875,944.40. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR opened at $199.50 on Thursday. Broadridge Financial Solutions, Inc. has a 1 year low of $161.85 and a 1 year high of $210.24. The firm has a market capitalization of $23.58 billion, a PE ratio of 34.04 and a beta of 1.04. The business’s 50 day moving average price is $198.29 and its 200-day moving average price is $200.05. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.05 earnings per share. As a group, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.20 annualized dividend and a dividend yield of 1.60%. Broadridge Financial Solutions’s dividend payout ratio is presently 54.61%.

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.