Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Purchased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI boosted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 7.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 2,398 shares of the business services provider’s stock after acquiring an additional 166 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Broadridge Financial Solutions were worth $474,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. LifeSteps Financial Inc. acquired a new stake in shares of Broadridge Financial Solutions in the first quarter worth $32,000. EdgeRock Capital LLC purchased a new stake in shares of Broadridge Financial Solutions in the second quarter worth about $32,000. Rothschild Investment LLC acquired a new stake in Broadridge Financial Solutions during the second quarter worth about $32,000. New Covenant Trust Company N.A. purchased a new position in Broadridge Financial Solutions during the first quarter valued at approximately $34,000. Finally, Family Firm Inc. acquired a new position in Broadridge Financial Solutions in the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total value of $6,540,242.43. Following the transaction, the president now owns 67,215 shares in the company, valued at approximately $13,938,374.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total value of $6,540,242.43. Following the completion of the sale, the president now owns 67,215 shares in the company, valued at approximately $13,938,374.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy C. Gokey sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the completion of the transaction, the chief executive officer now directly owns 200,675 shares in the company, valued at $41,963,149.25. The disclosure for this sale can be found here. Insiders have sold 134,386 shares of company stock valued at $28,112,824 over the last ninety days. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. raised their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. DA Davidson reiterated a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Finally, StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $213.33.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $208.59 on Thursday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $24.65 billion, a PE ratio of 35.60 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a fifty-two week low of $166.73 and a fifty-two week high of $223.81. The company has a fifty day moving average of $210.13 and a two-hundred day moving average of $203.25.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the firm earned $3.21 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be paid a $0.88 dividend. The ex-dividend date is Thursday, September 12th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.69%. Broadridge Financial Solutions’s payout ratio is currently 60.07%.

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.