Sei Investments Co. Buys 4,465 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Sei Investments Co. grew its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 22.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,102 shares of the business services provider’s stock after buying an additional 4,465 shares during the period. Sei Investments Co.’s holdings in Broadridge Financial Solutions were worth $4,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of BR. LifeSteps Financial Inc. bought a new stake in shares of Broadridge Financial Solutions during the first quarter valued at approximately $32,000. EdgeRock Capital LLC bought a new stake in shares of Broadridge Financial Solutions during the second quarter valued at approximately $32,000. Rothschild Investment LLC bought a new stake in shares of Broadridge Financial Solutions during the second quarter valued at approximately $32,000. New Covenant Trust Company N.A. bought a new stake in shares of Broadridge Financial Solutions during the first quarter valued at approximately $34,000. Finally, Family Firm Inc. bought a new stake in shares of Broadridge Financial Solutions during the second quarter valued at approximately $37,000. Institutional investors own 90.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on BR. DA Davidson restated a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Royal Bank of Canada boosted their price target on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, StockNews.com upgraded shares of 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 company. According to data from MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of “Moderate Buy” and an average target price of $213.33.

Broadridge Financial Solutions Stock Down 0.2 %

Shares of Broadridge Financial Solutions stock opened at $214.70 on Wednesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. Broadridge Financial Solutions, Inc. has a 1 year low of $166.73 and a 1 year high of $223.81. The firm’s 50-day moving average is $211.26 and its two-hundred day moving average is $203.82. The stock has a market cap of $25.37 billion, a price-to-earnings ratio of 36.64 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last issued 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 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 analysts’ expectations of $1.96 billion. During the same period in the prior year, the business earned $3.21 EPS. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. As a group, research analysts expect 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. Shareholders of record on Thursday, September 12th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.64%. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio is presently 60.07%.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at $41,963,149.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Laura Matlin sold 673 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the completion of the transaction, the vice president now directly owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy C. Gokey sold 25,000 shares of the 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 completion of the transaction, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at $41,963,149.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,386 shares of company stock valued at $28,112,824. 1.60% of the stock is currently owned by insiders.

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.