Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Purchased by Citizens Financial Group Inc RI

Citizens Financial Group Inc RI boosted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 155.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 934 shares of the business services provider’s stock after purchasing an additional 568 shares during the quarter. Citizens Financial Group Inc RI’s holdings in Broadridge Financial Solutions were worth $89,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. First Allied Advisory Services Inc. boosted its holdings in Broadridge Financial Solutions by 6.1% in the fourth quarter. First Allied Advisory Services Inc. now owns 4,394 shares of the business services provider’s stock worth $545,000 after purchasing an additional 252 shares during the period. Gyroscope Capital Management Group LLC lifted its stake in Broadridge Financial Solutions by 26.6% in the fourth quarter. Gyroscope Capital Management Group LLC now owns 4,097 shares of the business services provider’s stock valued at $506,000 after buying an additional 860 shares during the last quarter. Ledyard National Bank lifted its stake in Broadridge Financial Solutions by 1.9% in the fourth quarter. Ledyard National Bank now owns 44,201 shares of the business services provider’s stock valued at $5,461,000 after buying an additional 830 shares during the last quarter. Great Lakes Advisors LLC lifted its stake in Broadridge Financial Solutions by 14.2% in the fourth quarter. Great Lakes Advisors LLC now owns 11,420 shares of the business services provider’s stock valued at $1,411,000 after buying an additional 1,422 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in Broadridge Financial Solutions by 16.4% in the fourth quarter. Nuveen Asset Management LLC now owns 648,138 shares of the business services provider’s stock valued at $80,071,000 after buying an additional 91,527 shares during the last quarter. 84.58% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have issued reports on the company. Raymond James upgraded Broadridge Financial Solutions from a “market perform” rating to an “outperform” rating and set a $130.00 target price on the stock in a research note on Friday, February 28th. Rosenblatt Securities raised their target price on Broadridge Financial Solutions from $101.00 to $115.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. DA Davidson upgraded Broadridge Financial Solutions from a “neutral” rating to a “buy” rating and raised their target price for the company from $134.00 to $138.00 in a research note on Monday, February 3rd. Finally, BTIG Research reiterated a “buy” rating and issued a $135.00 target price on shares of Broadridge Financial Solutions in a research note on Friday, May 8th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $132.67.

In related news, VP Thomas P. Carey sold 1,089 shares of Broadridge Financial Solutions stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $97.11, for a total transaction of $105,752.79. Following the transaction, the vice president now directly owns 3,041 shares of the company’s stock, valued at $295,311.51. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO James M. Young sold 98,336 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $119.46, for a total value of $11,747,218.56. Following the transaction, the chief financial officer now directly owns 68,629 shares in the company, valued at $8,198,420.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 121,583 shares of company stock worth $14,294,469. Company insiders own 2.20% of the company’s stock.

Shares of NYSE BR opened at $117.79 on Friday. Broadridge Financial Solutions, Inc. has a fifty-two week low of $81.90 and a fifty-two week high of $136.99. The firm’s 50-day simple moving average is $109.92 and its 200 day simple moving average is $115.67. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The stock has a market cap of $13.52 billion, a P/E ratio of 25.61 and a beta of 0.90.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Friday, May 8th. The business services provider reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.03). Broadridge Financial Solutions had a net margin of 9.50% and a return on equity of 46.99%. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the firm earned $1.59 earnings per share. Broadridge Financial Solutions’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 4.96 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Thursday, June 11th. Broadridge Financial Solutions’s dividend payout ratio is currently 46.35%.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

Read More: What is a balanced fund?

Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

Receive News & Ratings for Broadridge Financial Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadridge Financial Solutions and related companies with MarketBeat.com's FREE daily email newsletter.