The Manufacturers Life Insurance Company Buys 524 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

The Manufacturers Life Insurance Company grew its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,573 shares of the business services provider’s stock after buying an additional 524 shares during the quarter. The Manufacturers Life Insurance Company owned 0.06% of Broadridge Financial Solutions worth $14,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. LifeSteps Financial Inc. bought a new position in Broadridge Financial Solutions in the first quarter valued at about $32,000. EdgeRock Capital LLC purchased a new stake in shares of Broadridge Financial Solutions during the 2nd quarter valued at about $32,000. Rothschild Investment LLC bought a new position in shares of Broadridge Financial Solutions in the 2nd quarter worth approximately $32,000. New Covenant Trust Company N.A. purchased a new position in shares of Broadridge Financial Solutions in the first quarter worth approximately $34,000. Finally, Family Firm Inc. bought a new stake in Broadridge Financial Solutions during the second quarter valued at approximately $37,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Trading Down 0.4 %

Shares of Broadridge Financial Solutions stock opened at $213.75 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 company has a fifty day moving average of $211.26 and a 200 day moving average of $203.82. The company has a market capitalization of $25.26 billion, a P/E ratio of 36.48 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.

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

Broadridge Financial Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Thursday, September 12th. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s payout ratio is 60.07%.

Wall Street Analyst Weigh In

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

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Laura Matlin sold 673 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of the transaction, the vice president now owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President Christopher John Perry sold 31,539 shares of the firm’s 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 transaction, the president now directly owns 67,215 shares of the company’s stock, valued at $13,938,374.55. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Laura Matlin sold 673 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction of $145,368.00. Following the sale, the vice president now directly owns 5,530 shares in the company, valued at approximately $1,194,480. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 134,386 shares of company stock valued at $28,112,824. 1.60% of the stock is currently owned by corporate insiders.

About Broadridge Financial Solutions

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.