Wedmont Private Capital boosted its position in Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) by 30.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,609 shares of the business services provider’s stock after purchasing an additional 606 shares during the period. Wedmont Private Capital’s holdings in Broadridge Financial Solutions were worth $604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also added to or reduced their stakes in BR. Whipplewood Advisors LLC lifted its holdings in shares of Broadridge Financial Solutions by 2,620.0% in the 1st quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider’s stock worth $33,000 after buying an additional 131 shares during the period. Minot DeBlois Advisors LLC bought a new position in Broadridge Financial Solutions during the 4th quarter worth about $34,000. Gen Wealth Partners Inc bought a new position in Broadridge Financial Solutions during the 4th quarter worth about $36,000. Curio Wealth LLC purchased a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth approximately $45,000. Finally, Promus Capital LLC purchased a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth approximately $52,000. Institutional investors own 90.03% of the company’s stock.
Insiders Place Their Bets
In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,556 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total transaction of $864,392.48. Following the completion of the sale, the director now owns 30,892 shares of the company’s stock, valued at approximately $7,509,227.36. The trade was a 10.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Pamela L. Carter sold 4,829 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $242.23, for a total value of $1,169,728.67. Following the completion of the transaction, the director now owns 7,242 shares of the company’s stock, valued at approximately $1,754,229.66. The trade was a 40.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,116 shares of company stock valued at $4,352,298. Insiders own 1.30% of the company’s stock.
Broadridge Financial Solutions Price Performance
Broadridge Financial Solutions (NYSE:BR – Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.03. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the firm earned $2.23 EPS. The business’s quarterly revenue was up 5.0% on a year-over-year basis. Analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.
Broadridge Financial Solutions Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Thursday, June 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 52.93%.
Analysts Set New Price Targets
BR has been the subject of a number of analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $259.00 target price on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Wall Street Zen upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Finally, Needham & Company LLC initiated coverage on Broadridge Financial Solutions in a research note on Tuesday, May 6th. They issued a “buy” rating and a $300.00 target price on the stock. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $250.83.
Check Out Our Latest Report on Broadridge Financial Solutions
Broadridge Financial Solutions Company 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.
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