1,711 Shares in Broadridge Financial Solutions, Inc. (NYSE:BR) Bought by Empower Advisory Group LLC

Empower Advisory Group LLC purchased a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,711 shares of the business services provider’s stock, valued at approximately $248,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of BR. Skandinaviska Enskilda Banken AB publ raised its holdings in Broadridge Financial Solutions by 0.6% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 21,851 shares of the business services provider’s stock valued at $3,203,000 after buying an additional 136 shares during the last quarter. Ethic Inc. raised its stake in shares of Broadridge Financial Solutions by 52.7% during the first quarter. Ethic Inc. now owns 5,511 shares of the business services provider’s stock valued at $808,000 after acquiring an additional 1,901 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Broadridge Financial Solutions by 20.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,234 shares of the business services provider’s stock worth $2,043,000 after purchasing an additional 2,554 shares during the period. Moors & Cabot Inc. grew its stake in shares of Broadridge Financial Solutions by 11.3% in the fourth quarter. Moors & Cabot Inc. now owns 1,665 shares of the business services provider’s stock worth $223,000 after purchasing an additional 169 shares during the last quarter. Finally, Wendell David Associates Inc. increased its holdings in Broadridge Financial Solutions by 0.7% during the 1st quarter. Wendell David Associates Inc. now owns 105,444 shares of the business services provider’s stock valued at $15,455,000 after purchasing an additional 697 shares during the period. 89.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. DA Davidson raised their price target on Broadridge Financial Solutions from $160.00 to $164.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 9th. Raymond James lifted their target price on shares of Broadridge Financial Solutions from $183.00 to $186.00 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. JPMorgan Chase & Co. increased their price target on shares of Broadridge Financial Solutions from $178.00 to $192.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 22nd. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Royal Bank of Canada increased their target price on Broadridge Financial Solutions from $169.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $173.67.

Insider Activity

In other news, VP Thomas P. Carey sold 2,500 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $178.40, for a total transaction of $446,000.00. Following the transaction, the vice president now owns 11,322 shares in the company, valued at approximately $2,019,844.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, President Christopher John Perry sold 10,118 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $180.57, for a total value of $1,827,007.26. Following the completion of the sale, the president now directly owns 69,365 shares of the company’s stock, valued at $12,525,238.05. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Thomas P. Carey sold 2,500 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $178.40, for a total transaction of $446,000.00. Following the transaction, the vice president now owns 11,322 shares in the company, valued at approximately $2,019,844.80. The disclosure for this sale can be found here. Insiders sold 191,035 shares of company stock valued at $34,423,247 in the last quarter. 1.60% of the stock is currently owned by insiders.

Broadridge Financial Solutions Stock Performance

Shares of NYSE BR opened at $185.14 on Monday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.00. The firm’s 50-day moving average price is $177.19 and its 200-day moving average price is $159.09. Broadridge Financial Solutions, Inc. has a 52-week low of $131.35 and a 52-week high of $189.69. The company has a market cap of $21.87 billion, a PE ratio of 35.00 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Tuesday, August 8th. The business services provider reported $3.21 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.11. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.87 billion. Broadridge Financial Solutions had a net margin of 10.40% and a return on equity of 42.09%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.65 EPS. As a group, analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.63 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.80 per share. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.73. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Thursday, September 14th. Broadridge Financial Solutions’s payout ratio is currently 54.82%.

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.