USA Financial Formulas Buys New Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

USA Financial Formulas bought a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 908 shares of the business services provider’s stock, valued at approximately $220,000.

Several other institutional investors have also recently added to or reduced their stakes in BR. Price T Rowe Associates Inc. MD grew its stake in shares of Broadridge Financial Solutions by 50.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider’s stock worth $804,952,000 after acquiring an additional 1,186,555 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Broadridge Financial Solutions by 31,011.4% in the first quarter. GAMMA Investing LLC now owns 989,964 shares of the business services provider’s stock worth $240,027,000 after acquiring an additional 986,782 shares in the last quarter. Norges Bank acquired a new position in shares of Broadridge Financial Solutions in the fourth quarter worth $106,904,000. Raymond James Financial Inc. acquired a new position in shares of Broadridge Financial Solutions in the fourth quarter worth $104,466,000. Finally, Corient Private Wealth LLC grew its stake in shares of Broadridge Financial Solutions by 882.9% in the fourth quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider’s stock worth $99,186,000 after acquiring an additional 392,695 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Activity

In other news, Director Maura A. Markus sold 3,556 shares of the business’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total transaction of $864,392.48. Following the transaction, the director now directly owns 30,892 shares in the company, valued at $7,509,227.36. The trade was a 10.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Hope M. Jarkowski sold 1,068 shares of the business’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total transaction of $251,214.96. Following the transaction, the insider now owns 1,070 shares in the company, valued at approximately $251,685.40. This trade represents a 49.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,116 shares of company stock valued at $4,352,298. Insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of BR opened at $241.01 on Thursday. Broadridge Financial Solutions, Inc. has a 1-year low of $192.68 and a 1-year high of $247.01. The stock has a market cap of $28.31 billion, a PE ratio of 37.72 and a beta of 0.96. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a fifty day moving average price of $236.57 and a 200 day moving average price of $235.00.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.03. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the company earned $2.23 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be issued a $0.88 dividend. The ex-dividend date is Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.46%. Broadridge Financial Solutions’s payout ratio is 52.93%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC assumed coverage on shares of Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a “buy” rating and a $300.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $259.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Finally, Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $250.83.

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.