Scientech Research LLC Makes New Investment in Broadridge Financial Solutions, Inc. (NYSE:BR)

Scientech Research LLC bought a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,667 shares of the business services provider’s stock, valued at approximately $328,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. lifted its position in Broadridge Financial Solutions by 4.9% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 12,205 shares of the business services provider’s stock valued at $2,511,000 after purchasing an additional 572 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Broadridge Financial Solutions by 49.0% during the fourth quarter. Allianz Asset Management GmbH now owns 22,575 shares of the business services provider’s stock valued at $4,645,000 after buying an additional 7,420 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Broadridge Financial Solutions by 2.7% during the fourth quarter. California State Teachers Retirement System now owns 193,957 shares of the business services provider’s stock worth $39,907,000 after buying an additional 5,033 shares during the period. KBC Group NV grew its holdings in Broadridge Financial Solutions by 36.4% in the 4th quarter. KBC Group NV now owns 93,577 shares of the business services provider’s stock worth $19,254,000 after buying an additional 24,997 shares in the last quarter. Finally, NEOS Investment Management LLC acquired a new stake in Broadridge Financial Solutions in the 4th quarter valued at approximately $344,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

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

Broadridge Financial Solutions Price Performance

Shares of Broadridge Financial Solutions stock opened at $215.03 on Tuesday. Broadridge Financial Solutions, Inc. has a 52 week low of $166.73 and a 52 week high of $223.81. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. The stock has a market cap of $25.41 billion, a PE ratio of 36.69 and a beta of 1.05. The company’s 50-day moving average price is $211.08 and its two-hundred day moving average price is $203.71.

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

Broadridge Financial Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be paid a dividend of $0.88 per share. 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 annualized dividend and a dividend yield of 1.64%. Broadridge Financial Solutions’s dividend payout ratio (DPR) 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.