HighPoint Advisor Group LLC Invests $903,000 in Broadridge Financial Solutions, Inc. (NYSE:BR)

HighPoint Advisor Group LLC acquired a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BRFree Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,463 shares of the business services provider’s stock, valued at approximately $903,000.

Several other large investors also recently modified their holdings of BR. Stifel Financial Corp grew its holdings in Broadridge Financial Solutions by 1,700.7% in the third quarter. Stifel Financial Corp now owns 1,542,507 shares of the business services provider’s stock worth $276,194,000 after purchasing an additional 1,456,847 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Broadridge Financial Solutions by 124.8% in the third quarter. Envestnet Asset Management Inc. now owns 687,830 shares of the business services provider’s stock valued at $123,156,000 after buying an additional 381,882 shares in the last quarter. APG Asset Management US Inc. bought a new position in shares of Broadridge Financial Solutions in the fourth quarter valued at $70,498,000. Norges Bank bought a new position in shares of Broadridge Financial Solutions in the fourth quarter valued at $67,605,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Broadridge Financial Solutions by 28.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,452,720 shares of the business services provider’s stock valued at $286,360,000 after buying an additional 323,051 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BR has been the topic of a number of recent research reports. Evercore ISI reaffirmed an “outperform” rating and issued a $230.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Friday. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Hold” and an average target price of $206.67.

Get Our Latest Analysis on BR

Insiders Place Their Bets

In other news, VP Thomas P. Carey sold 2,500 shares of Broadridge Financial Solutions stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $200.40, for a total value of $501,000.00. Following the completion of the transaction, the vice president now owns 9,361 shares in the company, valued at $1,875,944.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Robert N. Duelks sold 3,473 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total value of $687,862.38. Following the completion of the transaction, the director now owns 22,588 shares in the company, valued at $4,473,779.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas P. Carey sold 2,500 shares of Broadridge Financial Solutions stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.40, for a total transaction of $501,000.00. Following the completion of the transaction, the vice president now owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Stock Up 0.0 %

Shares of BR traded up $0.08 during trading hours on Tuesday, reaching $197.73. 10,859 shares of the stock traded hands, compared to its average volume of 509,740. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55. The stock has a fifty day simple moving average of $197.73 and a 200 day simple moving average of $199.58. Broadridge Financial Solutions, Inc. has a 52 week low of $157.00 and a 52 week high of $210.24. The company has a market cap of $23.37 billion, a price-to-earnings ratio of 33.73 and a beta of 1.03.

Broadridge Financial Solutions (NYSE:BRGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The business services provider reported $2.23 EPS for the quarter, missing the consensus estimate of $2.24 by ($0.01). The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.05 EPS. On average, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.62%. The ex-dividend date is Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio is 54.61%.

About Broadridge Financial Solutions

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

Receive News & Ratings for Broadridge Financial Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadridge Financial Solutions and related companies with MarketBeat.com's FREE daily email newsletter.