Broadridge Financial Solutions, Inc. $BR Shares Bought by Tectonic Advisors LLC

Tectonic Advisors LLC lifted its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,972 shares of the business services provider’s stock after acquiring an additional 62 shares during the quarter. Tectonic Advisors LLC’s holdings in Broadridge Financial Solutions were worth $479,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. D.A. Davidson & CO. acquired a new position in shares of Broadridge Financial Solutions in the 1st quarter worth approximately $217,000. CWA Asset Management Group LLC boosted its position in Broadridge Financial Solutions by 6.8% during the 1st quarter. CWA Asset Management Group LLC now owns 1,370 shares of the business services provider’s stock valued at $332,000 after purchasing an additional 87 shares during the period. Golden State Wealth Management LLC acquired a new position in Broadridge Financial Solutions during the 1st quarter valued at approximately $29,000. Sequoia Financial Advisors LLC boosted its position in Broadridge Financial Solutions by 9.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,153 shares of the business services provider’s stock valued at $279,000 after purchasing an additional 101 shares during the period. Finally, Triangle Securities Wealth Management acquired a new position in Broadridge Financial Solutions during the 2nd quarter valued at approximately $784,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insiders Place Their Bets

In other news, President Christopher John Perry sold 7,036 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total value of $1,848,497.92. Following the sale, the president owned 48,813 shares of the company’s stock, valued at approximately $12,824,151.36. The trade was a 12.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy C. Gokey sold 5,674 shares of the business’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $258.37, for a total value of $1,465,991.38. Following the completion of the sale, the chief executive officer directly owned 143,285 shares in the company, valued at $37,020,545.45. This represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,532 shares of company stock worth $38,417,208 in the last three months. Company insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Trading Down 0.6%

Shares of BR stock opened at $232.81 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.98 and a current ratio of 0.98. Broadridge Financial Solutions, Inc. has a 1 year low of $208.20 and a 1 year high of $271.91. The stock has a fifty day moving average of $250.05 and a two-hundred day moving average of $242.53. The firm has a market capitalization of $27.17 billion, a PE ratio of 32.84 and a beta of 0.95.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share (EPS) for the quarter. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%.The company had revenue of $1.05 billion during the quarter. As a group, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were paid a $0.975 dividend. The ex-dividend date of this dividend was Thursday, September 11th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.7%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.01%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Needham & Company LLC boosted their price objective 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. Weiss Ratings restated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research report on Wednesday. Morgan Stanley boosted their price objective 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 boosted their price objective on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday, August 8th. Finally, Wall Street Zen upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $261.50.

About Broadridge Financial Solutions

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.