Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 81.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,558 shares of the business services provider’s stock after purchasing an additional 699 shares during the quarter. GAMMA Investing LLC’s holdings in Broadridge Financial Solutions were worth $307,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. LifeSteps Financial Inc. acquired a new stake in shares of Broadridge Financial Solutions in the first quarter valued at approximately $32,000. Stuart Chaussee & Associates Inc. purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $34,000. Manchester Capital Management LLC boosted its stake 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 worth $34,000 after purchasing an additional 60 shares during the last quarter. New Covenant Trust Company N.A. acquired a new stake in shares of Broadridge Financial Solutions in the first quarter worth approximately $34,000. Finally, McClarren Financial Advisors Inc. raised its position in shares of Broadridge Financial Solutions by 73.7% in the 1st quarter. McClarren Financial Advisors Inc. now owns 205 shares of the business services provider’s stock worth $42,000 after buying an additional 87 shares during the period. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Performance

BR stock traded down $7.45 during mid-day trading on Monday, reaching $208.52. 708,356 shares of the stock traded hands, compared to its average volume of 506,342. The business has a 50-day moving average of $202.06 and a two-hundred day moving average of $201.03. Broadridge Financial Solutions, Inc. has a 52 week low of $165.25 and a 52 week high of $216.86. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $24.64 billion, a PE ratio of 36.86 and a beta of 1.04.

Broadridge Financial Solutions (NYSE:BR) last announced its 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). The business 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%. Broadridge Financial Solutions’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.05 EPS. As a group, equities analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 14th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 54.61%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BR shares. Royal Bank of Canada reissued an “outperform” rating and set a $239.00 price target 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, July 20th. Finally, 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. 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, Broadridge Financial Solutions currently has a consensus rating of “Hold” and a consensus target price of $206.67.

Insider Activity at Broadridge Financial Solutions

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

Broadridge Financial Solutions 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.