Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC lifted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 561.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,639 shares of the business services provider’s stock after acquiring an additional 3,089 shares during the quarter. Farther Finance Advisors LLC’s holdings in Broadridge Financial Solutions were worth $715,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Hutchens & Kramer Investment Management Group LLC boosted its stake in shares of Broadridge Financial Solutions by 4.5% during the 1st quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,193 shares of the business services provider’s stock valued at $242,000 after buying an additional 51 shares during the period. TIAA Trust National Association lifted its stake in shares of Broadridge Financial Solutions by 1.0% in the 1st quarter. TIAA Trust National Association now owns 5,469 shares of the business services provider’s stock valued at $1,120,000 after purchasing an additional 52 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc lifted its stake in shares of Broadridge Financial Solutions by 3.6% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 1,581 shares of the business services provider’s stock valued at $324,000 after purchasing an additional 55 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Broadridge Financial Solutions by 10.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 591 shares of the business services provider’s stock valued at $114,000 after purchasing an additional 55 shares during the last quarter. Finally, Manchester Capital Management LLC lifted its stake in shares of Broadridge Financial Solutions by 57.1% in the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 60 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BR. JPMorgan Chase & Co. lifted their price objective on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Wednesday, August 28th. DA Davidson reiterated a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Finally, Royal Bank of Canada lifted their target price on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $213.33.

Insider Transactions at Broadridge Financial Solutions

In other news, VP Laura Matlin sold 673 shares of the business’s 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 transaction, the vice president now owns 5,530 shares in the company, valued at approximately $1,194,480. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP Laura Matlin sold 673 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the sale, the vice president now owns 5,530 shares of the company’s stock, valued at $1,194,480. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Christopher John Perry sold 31,539 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were 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 in the company, valued at approximately $13,938,374.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 98,387 shares of company stock worth $20,503,110. 1.60% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $212.86 on Tuesday. The firm’s 50-day moving average is $207.57 and its 200-day moving average is $202.37. Broadridge Financial Solutions, Inc. has a 52-week low of $166.73 and a 52-week high of $223.81. 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 market cap of $24.84 billion, a price-to-earnings ratio of 36.32 and a beta of 1.04.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data 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 net margin of 10.73% and a return on equity of 42.77%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the firm posted $3.21 EPS. The business’s revenue was up 5.7% compared to the same quarter last year. Equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current 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 issued a dividend of $0.88 per share. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.65%. Broadridge Financial Solutions’s 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.