Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Purchased by Jacobi Capital Management LLC

Jacobi Capital Management LLC boosted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 33.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,025 shares of the business services provider’s stock after purchasing an additional 753 shares during the period. Jacobi Capital Management LLC’s holdings in Broadridge Financial Solutions were worth $620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. LifeSteps Financial Inc. purchased a new position in shares of Broadridge Financial Solutions during the 1st quarter valued at approximately $32,000. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth about $34,000. Manchester Capital Management LLC grew its position in shares of Broadridge Financial Solutions by 57.1% during the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 60 shares during the period. BKM Wealth Management LLC purchased a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at about $37,000. Finally, Exchange Traded Concepts LLC acquired a new position in Broadridge Financial Solutions in the 4th quarter worth about $39,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BR has been the subject of a number of recent analyst reports. Evercore ISI restated an “outperform” rating and issued a $230.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Royal Bank of Canada restated an “outperform” rating and set a $239.00 price objective on shares of Broadridge Financial Solutions in a research report on Friday, June 28th. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday. Finally, DA Davidson restated a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Broadridge Financial Solutions presently has a consensus rating of “Hold” and an average target price of $206.67.

Insider Transactions at Broadridge Financial Solutions

In other news, Director Robert N. Duelks sold 3,473 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total transaction of $687,862.38. Following the completion of the transaction, the director now directly owns 22,588 shares in the company, valued at $4,473,779.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, VP Thomas P. Carey sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.40, for a total transaction of $501,000.00. Following the sale, the vice president now directly owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert N. Duelks sold 3,473 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total transaction of $687,862.38. Following the completion of the transaction, the director now directly 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. Company insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR traded up $2.84 during midday trading on Monday, hitting $204.73. The company had a trading volume of 817,714 shares, compared to its average volume of 508,711. Broadridge Financial Solutions, Inc. has a twelve month low of $164.99 and a twelve month high of $211.68. The stock has a market cap of $24.19 billion, a price-to-earnings ratio of 34.94 and a beta of 1.04. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39. The business’s 50-day simple moving average is $200.37 and its 200-day simple moving average is $200.38.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly 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). Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. On average, research analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current 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 $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 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.