Broadridge Financial Solutions, Inc. (NYSE:BR) Stock Position Raised by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC lifted its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 13.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,068 shares of the business services provider’s stock after acquiring an additional 130 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Broadridge Financial Solutions were worth $259,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in BR. Curio Wealth LLC purchased a new stake in Broadridge Financial Solutions in the 4th quarter worth approximately $45,000. Brighton Jones LLC bought a new position in Broadridge Financial Solutions in the 4th quarter worth $580,000. Proficio Capital Partners LLC bought a new position in Broadridge Financial Solutions in the 4th quarter worth $25,773,000. Wellington Management Group LLP raised its holdings in Broadridge Financial Solutions by 28.4% in the 4th quarter. Wellington Management Group LLP now owns 4,636 shares of the business services provider’s stock worth $1,048,000 after acquiring an additional 1,026 shares during the period. Finally, RWA Wealth Partners LLC grew its position in Broadridge Financial Solutions by 61.4% in the 4th quarter. RWA Wealth Partners LLC now owns 11,080 shares of the business services provider’s stock worth $2,505,000 after purchasing an additional 4,215 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Pamela L. Carter sold 4,829 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $242.23, for a total value of $1,169,728.67. Following the completion of the sale, the director now directly owns 7,242 shares in the company, valued at $1,754,229.66. This represents a 40.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Maura A. Markus sold 3,556 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total value of $864,392.48. Following the completion of the sale, the director now owns 30,892 shares of the company’s stock, valued at $7,509,227.36. This trade represents a 10.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,116 shares of company stock worth $4,352,298. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $259.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Finally, Needham & Company LLC assumed coverage on Broadridge Financial Solutions in a research note on Tuesday, May 6th. They issued a “buy” rating and a $300.00 target price for the company. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Broadridge Financial Solutions currently has a consensus rating of “Hold” and an average target price of $250.83.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock opened at $237.66 on Friday. The firm has a fifty day moving average of $238.27 and a two-hundred day moving average of $235.12. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a market capitalization of $27.92 billion, a price-to-earnings ratio of 35.74 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a 52 week low of $195.64 and a 52 week high of $247.01.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.03. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the company posted $2.23 earnings per share. The firm’s revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Thursday, June 12th. Broadridge Financial Solutions’s payout ratio is 52.93%.

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.