Broadridge Financial Solutions, Inc. $BR Shares Acquired by Amalgamated Bank

Amalgamated Bank lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.0% during the second quarter, Holdings Channel reports. The firm owned 26,578 shares of the business services provider’s stock after acquiring an additional 517 shares during the quarter. Amalgamated Bank’s holdings in Broadridge Financial Solutions were worth $6,459,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Broadridge Financial Solutions by 3.1% during the first quarter. Vanguard Group Inc. now owns 14,733,147 shares of the business services provider’s stock worth $3,572,199,000 after purchasing an additional 438,381 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Broadridge Financial Solutions by 2.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,689,607 shares of the business services provider’s stock worth $409,662,000 after purchasing an additional 39,846 shares in the last quarter. Bahl & Gaynor Inc. increased its position in shares of Broadridge Financial Solutions by 3.4% during the first quarter. Bahl & Gaynor Inc. now owns 1,168,351 shares of the business services provider’s stock worth $283,278,000 after purchasing an additional 38,527 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Broadridge Financial Solutions by 3.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,076,761 shares of the business services provider’s stock worth $261,071,000 after purchasing an additional 33,635 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Broadridge Financial Solutions by 577.9% during the first quarter. Ameriprise Financial Inc. now owns 1,035,938 shares of the business services provider’s stock worth $251,513,000 after purchasing an additional 883,125 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Buying and Selling

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 5,674 shares of Broadridge Financial Solutions stock in a transaction that occurred 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 sale, the chief executive officer owned 143,285 shares of the company’s stock, valued at approximately $37,020,545.45. The trade was a 3.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Christopher John Perry sold 7,036 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total value of $1,848,497.92. Following the completion of the sale, the president directly owned 48,813 shares in the company, valued at $12,824,151.36. This represents a 12.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 147,532 shares of company stock worth $38,417,208 in the last ninety days. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BR. UBS Group lifted their target price on Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. DA Davidson reiterated a “neutral” rating and set a $240.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday. Wall Street Zen cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Morgan Stanley boosted 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. Finally, Needham & Company LLC boosted 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. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Broadridge Financial Solutions presently has an average rating of “Hold” and an average target price of $265.67.

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $220.40 on Friday. The stock has a market capitalization of $25.72 billion, a PE ratio of 31.09 and a beta of 0.95. Broadridge Financial Solutions, Inc. has a 52-week low of $208.20 and a 52-week high of $271.91. The stock’s 50-day moving average price is $240.25 and its 200 day moving average price is $242.21. 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 announced its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 earnings per share 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 for the quarter. As a group, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th were issued 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 yield of 1.8%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. Broadridge Financial Solutions’s dividend payout ratio is presently 55.01%.

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.