MGB Wealth Management LLC Buys 320 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

MGB Wealth Management LLC grew its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 10.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,455 shares of the business services provider’s stock after buying an additional 320 shares during the period. MGB Wealth Management LLC’s holdings in Broadridge Financial Solutions were worth $708,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. New England Research & Management Inc. purchased a new stake in Broadridge Financial Solutions in the first quarter valued at approximately $1,465,000. Nordea Investment Management AB lifted its holdings in shares of Broadridge Financial Solutions by 680.1% during the 4th quarter. Nordea Investment Management AB now owns 85,325 shares of the business services provider’s stock worth $17,584,000 after acquiring an additional 74,387 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth $227,750,000. Bank of Nova Scotia lifted its holdings in shares of Broadridge Financial Solutions by 642.3% during the 4th quarter. Bank of Nova Scotia now owns 81,202 shares of the business services provider’s stock worth $16,707,000 after acquiring an additional 70,263 shares during the last quarter. Finally, Crown Oak Advisors LLC bought a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth $7,032,000. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Stock Up 1.4 %

Shares of NYSE BR traded up $2.84 during midday trading on Friday, hitting $206.31. The stock had a trading volume of 65,886 shares, compared to its average volume of 502,507. The business’s 50 day moving average is $199.07 and its 200-day moving average is $200.20. The company has a market cap of $24.38 billion, a P/E ratio of 34.72 and a beta of 1.04. Broadridge Financial Solutions, Inc. has a 52 week low of $164.99 and a 52 week high of $210.24. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55.

Broadridge Financial Solutions (NYSE:BR) last issued its 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). Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the company posted $2.05 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 14th were issued a dividend of $0.80 per share. The ex-dividend date was Friday, June 14th. This represents a $3.20 annualized dividend and a dividend yield of 1.55%. Broadridge Financial Solutions’s payout ratio is 54.61%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $239.00 target price on shares of Broadridge Financial Solutions in a research report on Friday, June 28th. Evercore ISI reiterated an “outperform” rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Finally, DA Davidson reiterated a “neutral” rating and issued a $185.00 target price 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $206.67.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions 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 completion of the sale, the vice president now directly owns 9,361 shares of the company’s stock, valued at $1,875,944.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Robert N. Duelks sold 3,473 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 22,588 shares of the company’s stock, valued at $4,473,779.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Thomas P. Carey sold 2,500 shares of the stock in a transaction 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 directly owns 9,361 shares of the company’s stock, valued at $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.