1,412 Shares in Broadridge Financial Solutions, Inc. (NYSE:BR) Acquired by LaSalle St. Investment Advisors LLC

LaSalle St. Investment Advisors LLC acquired a new position in Broadridge Financial Solutions, Inc. (NYSE:BR) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,412 shares of the business services provider’s stock, valued at approximately $342,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BR. Golden State Wealth Management LLC acquired a new stake in shares of Broadridge Financial Solutions in the 1st quarter valued at $29,000. Whipplewood Advisors LLC lifted its stake 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 valued at $33,000 after purchasing an additional 131 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at $34,000. Continuum Advisory LLC lifted its stake in shares of Broadridge Financial Solutions by 48.4% in the 1st quarter. Continuum Advisory LLC now owns 141 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 46 shares during the last quarter. Finally, Gen Wealth Partners Inc acquired a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $266.19 on Friday. The company’s fifty day moving average price is $243.67 and its 200 day moving average price is $238.95. Broadridge Financial Solutions, Inc. has a one year low of $206.29 and a one year high of $271.91. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.98 and a quick ratio of 1.32. The company has a market capitalization of $31.18 billion, a PE ratio of 37.54 and a beta of 0.94.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, August 5th. The business services provider reported $3.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.04. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the previous year, the firm posted $3.50 EPS. The business’s revenue was up 6.2% compared to the same quarter last year. As a group, analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 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 2nd. Stockholders of record on Thursday, September 11th will be issued a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Thursday, September 11th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. Broadridge Financial Solutions’s payout ratio is presently 49.65%.

Insider Activity at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 3,607 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total transaction of $855,796.82. Following the transaction, the vice president owned 6,077 shares in the company, valued at approximately $1,441,829.02. The trade was a 37.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Maura A. Markus sold 3,556 shares of the business’s 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 transaction, the director owned 30,892 shares in the company, valued at approximately $7,509,227.36. The trade was a 10.32% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,048 shares of company stock worth $4,101,083. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on BR. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $259.00 price objective on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. UBS Group lifted their price objective on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a “neutral” rating in a research note on Friday. Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Morgan Stanley lifted their target price on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Needham & Company LLC lifted their target price on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $261.50.

About Broadridge Financial Solutions

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.