First Trust Advisors LP Buys 7,374 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

First Trust Advisors LP boosted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BRFree Report) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 447,399 shares of the business services provider’s stock after acquiring an additional 7,374 shares during the quarter. First Trust Advisors LP owned approximately 0.38% of Broadridge Financial Solutions worth $92,052,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BR. NewEdge Wealth LLC grew its holdings in Broadridge Financial Solutions by 12.3% during the 3rd quarter. NewEdge Wealth LLC now owns 4,672 shares of the business services provider’s stock worth $837,000 after acquiring an additional 510 shares during the last quarter. Dorsey & Whitney Trust CO LLC bought a new position in shares of Broadridge Financial Solutions in the 3rd quarter valued at about $201,000. Atria Wealth Solutions Inc. boosted its stake in shares of Broadridge Financial Solutions by 6.1% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 1,576 shares of the business services provider’s stock valued at $283,000 after purchasing an additional 91 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Broadridge Financial Solutions by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 626,908 shares of the business services provider’s stock valued at $112,248,000 after purchasing an additional 10,202 shares during the last quarter. Finally, Burney Co. boosted its stake in shares of Broadridge Financial Solutions by 0.7% in the 3rd quarter. Burney Co. now owns 19,712 shares of the business services provider’s stock valued at $3,529,000 after purchasing an additional 145 shares during the last quarter. Institutional investors own 90.03% of the company’s stock.

Insiders Place Their Bets

In other news, VP Thomas P. Carey sold 2,500 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.40, for a total value of $501,000.00. Following the sale, the vice president now directly owns 9,361 shares in the company, valued at $1,875,944.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $197.99 on Thursday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.39 and a current ratio of 1.39. The company has a market capitalization of $23.40 billion, a P/E ratio of 33.79 and a beta of 1.03. The company’s 50 day moving average price is $198.77 and its two-hundred day moving average price is $198.99. Broadridge Financial Solutions, Inc. has a 52 week low of $152.47 and a 52 week high of $210.24.

Broadridge Financial Solutions (NYSE:BRGet Free Report) last announced its earnings results on Wednesday, May 8th. The business services provider reported $2.23 EPS for the quarter, missing the consensus estimate of $2.24 by ($0.01). The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $2.05 earnings per share. On average, analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.80 per share. The ex-dividend date is Friday, June 14th. This represents a $3.20 annualized dividend and a yield of 1.62%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 54.61%.

Wall Street Analyst Weigh In

BR has been the topic of several recent research reports. Evercore ISI reaffirmed an “outperform” rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Sunday, May 12th. Finally, DA Davidson reiterated a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $206.67.

Read Our Latest Stock Analysis on Broadridge Financial Solutions

Broadridge Financial Solutions Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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