Capital Group Private Client Services Inc. Has $9.21 Million Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Capital Group Private Client Services Inc. grew its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,946 shares of the business services provider’s stock after purchasing an additional 584 shares during the period. Capital Group Private Client Services Inc.’s holdings in Broadridge Financial Solutions were worth $9,208,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BR. Vanguard Group Inc. increased its position in Broadridge Financial Solutions by 0.3% during the first quarter. Vanguard Group Inc. now owns 13,991,206 shares of the business services provider’s stock worth $2,866,238,000 after acquiring an additional 39,537 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Broadridge Financial Solutions by 3.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,496,678 shares of the business services provider’s stock worth $306,609,000 after purchasing an additional 43,958 shares during the period. Bahl & Gaynor Inc. raised its position in shares of Broadridge Financial Solutions by 1.9% during the first quarter. Bahl & Gaynor Inc. now owns 1,102,233 shares of the business services provider’s stock valued at $225,804,000 after buying an additional 20,023 shares during the last quarter. Veritas Investment Partners UK Ltd. lifted its stake in shares of Broadridge Financial Solutions by 16.9% in the fourth quarter. Veritas Investment Partners UK Ltd. now owns 1,020,533 shares of the business services provider’s stock valued at $210,031,000 after buying an additional 147,293 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Broadridge Financial Solutions by 3.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 880,395 shares of the business services provider’s stock worth $181,142,000 after buying an additional 33,101 shares in the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BR. DA Davidson reiterated a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, July 20th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $239.00 price target on shares of Broadridge Financial Solutions in a report on Friday, June 28th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $206.67.

Insider Transactions at Broadridge Financial Solutions

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

Broadridge Financial Solutions Price Performance

Shares of Broadridge Financial Solutions stock traded up $4.65 during trading on Friday, reaching $212.72. The company’s stock had a trading volume of 343,817 shares, compared to its average volume of 504,806. Broadridge Financial Solutions, Inc. has a one year low of $164.99 and a one year high of $213.24. The stock has a 50-day moving average price of $200.77 and a two-hundred day moving average price of $200.60. 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 market capitalization of $25.14 billion, a P/E ratio of 36.30 and a beta of 1.04.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. Broadridge Financial Solutions’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.05 earnings per share. As a group, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 14th were paid a $0.80 dividend. The ex-dividend date was Friday, June 14th. This represents a $3.20 annualized dividend and a dividend yield of 1.50%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 54.61%.

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.