Quotient Wealth Partners LLC Makes New Investment in Broadridge Financial Solutions, Inc. (NYSE:BR)

Quotient Wealth Partners LLC bought a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,723 shares of the business services provider’s stock, valued at approximately $339,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Hutchens & Kramer Investment Management Group LLC lifted its holdings in shares of Broadridge Financial Solutions by 4.5% during the first quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,193 shares of the business services provider’s stock valued at $242,000 after purchasing an additional 51 shares during the last quarter. New York Life Investment Management LLC increased its position in shares of Broadridge Financial Solutions by 0.3% in the fourth quarter. New York Life Investment Management LLC now owns 18,444 shares of the business services provider’s stock worth $3,795,000 after acquiring an additional 52 shares in the last quarter. TIAA Trust National Association lifted its position in shares of Broadridge Financial Solutions by 1.0% in the 1st quarter. TIAA Trust National Association now owns 5,469 shares of the business services provider’s stock valued at $1,120,000 after acquiring an additional 52 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc lifted its position in shares of Broadridge Financial Solutions by 3.6% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 1,581 shares of the business services provider’s stock valued at $324,000 after acquiring an additional 55 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Broadridge Financial Solutions by 10.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 591 shares of the business services provider’s stock worth $114,000 after purchasing an additional 55 shares during the period. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Down 0.6 %

NYSE BR traded down $1.19 during trading on Friday, reaching $209.03. The company’s stock had a trading volume of 446,492 shares, compared to its average volume of 524,622. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $24.70 billion, a PE ratio of 35.67 and a beta of 1.04. Broadridge Financial Solutions, Inc. has a 1-year low of $166.73 and a 1-year high of $223.81. The business has a 50-day moving average price of $206.16 and a 200-day moving average price of $201.73.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $0.01. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. Broadridge Financial Solutions’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.21 EPS. On average, research analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.68%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.07%.

Insider Buying and Selling

In related news, CEO Timothy C. Gokey sold 25,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $209.31, for a total transaction of $5,232,750.00. Following the completion of the sale, the chief executive officer now directly owns 206,349 shares of the company’s stock, valued at approximately $43,190,909.19. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Timothy C. Gokey sold 25,000 shares of Broadridge Financial Solutions stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $209.31, for a total value of $5,232,750.00. Following the transaction, the chief executive officer now directly owns 206,349 shares in the company, valued at $43,190,909.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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. In the last ninety days, insiders sold 92,648 shares of company stock worth $19,297,633. 1.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BR shares. Royal Bank of Canada increased their target price on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, July 20th. DA Davidson reaffirmed a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Finally, JPMorgan Chase & Co. increased their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $213.33.

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.