MQS Management LLC Makes New Investment in Broadridge Financial Solutions, Inc. (NYSE:BR)

MQS Management LLC purchased a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,125 shares of the business services provider’s stock, valued at approximately $515,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Curio Wealth LLC acquired a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at $45,000. CWA Asset Management Group LLC raised its position in Broadridge Financial Solutions by 6.8% in the first quarter. CWA Asset Management Group LLC now owns 1,370 shares of the business services provider’s stock worth $332,000 after acquiring an additional 87 shares in the last quarter. D.A. Davidson & CO. acquired a new stake in Broadridge Financial Solutions in the 1st quarter valued at about $217,000. Golden State Wealth Management LLC bought a new position in shares of Broadridge Financial Solutions during the 1st quarter valued at about $29,000. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Broadridge Financial Solutions by 9.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,153 shares of the business services provider’s stock worth $279,000 after purchasing an additional 101 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Price Performance

BR opened at $234.90 on Monday. Broadridge Financial Solutions, Inc. has a 12-month low of $200.63 and a 12-month high of $247.01. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $27.59 billion, a P/E ratio of 35.32 and a beta of 0.94. The stock has a fifty day moving average of $239.64 and a 200-day moving average of $236.20.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.03. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.23 EPS. Equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Thursday, June 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 52.93%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BR. Needham & Company LLC initiated coverage on shares of Broadridge Financial Solutions in a report on Tuesday, May 6th. They set a “buy” rating and a $300.00 target price for the company. Royal Bank Of Canada reissued an “outperform” rating and set a $259.00 price objective on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Finally, Wall Street Zen raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $250.83.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 3,607 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $237.26, for a total transaction of $855,796.82. Following the completion of the sale, the vice president directly owned 6,077 shares in the company, valued at $1,441,829.02. The trade was a 37.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hope M. Jarkowski sold 1,068 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total value of $251,214.96. Following the completion of the transaction, the insider owned 1,070 shares in the company, valued at $251,685.40. This represents a 49.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,116 shares of company stock worth $4,352,298 over the last 90 days. 1.30% of the stock is currently owned by insiders.

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.