Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Bought by Empirical Finance LLC

Empirical Finance LLC grew its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,130 shares of the business services provider’s stock after buying an additional 144 shares during the quarter. Empirical Finance LLC’s holdings in Broadridge Financial Solutions were worth $846,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BR. Confluence Investment Management LLC acquired a new position in Broadridge Financial Solutions in the 1st quarter worth about $144,033,000. APG Asset Management US Inc. acquired a new position in Broadridge Financial Solutions in the 4th quarter worth about $70,498,000. Norges Bank acquired a new position in Broadridge Financial Solutions in the 4th quarter worth about $67,605,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Broadridge Financial Solutions by 28.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,452,720 shares of the business services provider’s stock worth $286,360,000 after purchasing an additional 323,051 shares during the period. Finally, Veritas Investment Partners UK Ltd. raised its holdings in Broadridge Financial Solutions by 16.9% in the 4th quarter. Veritas Investment Partners UK Ltd. now owns 1,020,533 shares of the business services provider’s stock worth $210,031,000 after purchasing an additional 147,293 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

BR traded up $1.98 during trading on Friday, reaching $205.45. The company’s stock had a trading volume of 335,613 shares, compared to its average volume of 504,535. The company’s fifty day moving average price is $199.07 and its 200-day moving average price is $200.20. The company has a market capitalization of $24.28 billion, a price-to-earnings ratio of 34.72 and a beta of 1.04. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.39 and a current ratio of 1.39. Broadridge Financial Solutions, Inc. has a 52-week low of $164.99 and a 52-week high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last posted 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). 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 previous year, the company posted $2.05 EPS. Broadridge Financial Solutions’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 14th were issued a dividend of $0.80 per share. The ex-dividend date was Friday, June 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.56%. Broadridge Financial Solutions’s payout ratio is 54.61%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several research firms have commented on BR. DA Davidson reiterated a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Royal Bank of Canada restated an “outperform” rating and set a $239.00 price target on shares of Broadridge Financial Solutions in a research report on Friday, June 28th. Evercore ISI reiterated an “outperform” rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Finally, StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to 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.