Griffin Asset Management Inc. Boosts Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Griffin Asset Management Inc. lifted its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,464 shares of the business services provider’s stock after purchasing an additional 286 shares during the quarter. Griffin Asset Management Inc.’s holdings in Broadridge Financial Solutions were worth $3,987,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stuart Chaussee & Associates Inc. purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at about $34,000. Manchester Capital Management LLC grew its holdings in Broadridge Financial Solutions by 57.1% during the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock worth $34,000 after acquiring an additional 60 shares during the period. Headinvest LLC acquired a new stake in Broadridge Financial Solutions during the third quarter worth about $32,000. BKM Wealth Management LLC purchased a new position in Broadridge Financial Solutions during the fourth quarter valued at approximately $37,000. Finally, Exchange Traded Concepts LLC acquired a new position in Broadridge Financial Solutions in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR traded down $2.21 during trading on Friday, hitting $197.00. The company had a trading volume of 1,005,172 shares, compared to its average volume of 501,744. The firm has a market capitalization of $23.28 billion, a price-to-earnings ratio of 33.62 and a beta of 1.03. The stock has a fifty day simple moving average of $198.10 and a two-hundred day simple moving average of $199.91. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a fifty-two week low of $161.33 and a fifty-two week high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the business posted $2.05 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, research analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

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

Insider Activity at Broadridge Financial Solutions

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $239.00 price objective on shares of Broadridge Financial Solutions in a research note on Friday. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. DA Davidson reissued a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Finally, Evercore ISI restated an “outperform” rating and issued a $230.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $206.67.

Broadridge Financial Solutions 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.