Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. grew its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 72.7% in the first quarter, HoldingsChannel reports. The fund owned 7,009 shares of the business services provider’s stock after buying an additional 2,950 shares during the period. QRG Capital Management Inc.’s holdings in Broadridge Financial Solutions were worth $1,436,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in BR. LifeSteps Financial Inc. acquired a new stake in shares of Broadridge Financial Solutions in the first quarter valued at $32,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at $34,000. Manchester Capital Management LLC lifted its holdings in shares of Broadridge Financial Solutions by 57.1% in the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock valued at $34,000 after buying an additional 60 shares during the period. BKM Wealth Management LLC acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at $37,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at $39,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Transactions at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 2,500 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.40, for a total transaction of $501,000.00. Following the completion of the sale, the vice president now owns 9,361 shares in the company, valued at approximately $1,875,944.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, VP Thomas P. Carey sold 2,500 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.40, for a total transaction of $501,000.00. Following the completion of the sale, the vice president now owns 9,361 shares in the company, valued at approximately $1,875,944.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert N. Duelks sold 3,473 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total value of $687,862.38. Following the sale, the director now owns 22,588 shares of the company’s stock, valued at approximately $4,473,779.28. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BR shares. DA Davidson reaffirmed a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Evercore ISI reissued an “outperform” rating and set a $230.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $239.00 target price on shares of Broadridge Financial Solutions in a research report on Friday, June 28th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $206.67.

Broadridge Financial Solutions Stock Down 0.7 %

BR stock traded down $1.40 during mid-day trading on Wednesday, hitting $208.34. The stock had a trading volume of 133,594 shares, compared to its average volume of 500,332. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a 1-year low of $164.99 and a 1-year high of $211.68. The company has a fifty day moving average of $199.52 and a 200 day moving average of $200.24. The stock has a market capitalization of $24.62 billion, a price-to-earnings ratio of 35.52 and a beta of 1.04.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share (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 the consensus estimate 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 revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.05 EPS. On average, equities analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 14th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.20 annualized dividend and a dividend yield of 1.54%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 54.61%.

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.