Chicago Partners Investment Group LLC Acquires 165 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Chicago Partners Investment Group LLC lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 14.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 1,305 shares of the business services provider’s stock after purchasing an additional 165 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Broadridge Financial Solutions were worth $308,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Continuum Advisory LLC boosted its position in shares of Broadridge Financial Solutions by 48.4% during the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider’s stock worth $34,000 after buying an additional 46 shares during the period. Norden Group LLC boosted its position in Broadridge Financial Solutions by 2.6% during the first quarter. Norden Group LLC now owns 1,852 shares of the business services provider’s stock valued at $449,000 after purchasing an additional 47 shares during the last quarter. Crew Capital Management Ltd. boosted its position in Broadridge Financial Solutions by 2.4% during the first quarter. Crew Capital Management Ltd. now owns 2,020 shares of the business services provider’s stock valued at $490,000 after purchasing an additional 48 shares during the last quarter. Advisors Capital Management LLC boosted its position in Broadridge Financial Solutions by 3.5% during the fourth quarter. Advisors Capital Management LLC now owns 1,440 shares of the business services provider’s stock valued at $326,000 after purchasing an additional 49 shares during the last quarter. Finally, BSW Wealth Partners boosted its position in Broadridge Financial Solutions by 3.2% during the first quarter. BSW Wealth Partners now owns 1,686 shares of the business services provider’s stock valued at $409,000 after purchasing an additional 52 shares during the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Broadridge Financial Solutions

In other news, Director Pamela L. Carter sold 4,829 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $242.23, for a total transaction of $1,169,728.67. Following the transaction, the director owned 7,242 shares in the company, valued at approximately $1,754,229.66. This trade represents a 40.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas Richard Deschutter sold 5,056 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total value of $1,211,164.80. Following the transaction, the insider owned 21,167 shares in the company, valued at approximately $5,070,554.85. This trade represents a 19.28% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,441 shares of company stock worth $3,245,286. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Performance

BR opened at $263.47 on Tuesday. Broadridge Financial Solutions, Inc. has a 12-month low of $206.29 and a 12-month high of $271.91. The stock has a market cap of $30.86 billion, a price-to-earnings ratio of 37.16 and a beta of 0.94. The business has a 50 day moving average of $244.10 and a 200-day moving average of $239.17. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.04.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, August 5th. The business services provider reported $3.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $0.04. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same period last year, the firm posted $3.50 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis. On average, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be paid a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.5%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. The ex-dividend date is Thursday, September 11th. Broadridge Financial Solutions’s dividend payout ratio is 49.65%.

Wall Street Analyst Weigh In

Several brokerages recently commented on BR. Wall Street Zen raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Morgan Stanley increased their price target on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. UBS Group increased their price target on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday. Needham & Company LLC increased their price target on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $261.50.

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.