Naples Global Advisors LLC Purchases 1,555 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Naples Global Advisors LLC increased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 22.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,615 shares of the business services provider’s stock after buying an additional 1,555 shares during the quarter. Naples Global Advisors LLC’s holdings in Broadridge Financial Solutions were worth $1,704,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $227,750,000. Sequoia Financial Advisors LLC bought a new stake in Broadridge Financial Solutions during the 4th quarter worth about $364,000. Cerity Partners LLC boosted its stake in shares of Broadridge Financial Solutions by 40.6% during the 4th quarter. Cerity Partners LLC now owns 8,289 shares of the business services provider’s stock worth $1,706,000 after buying an additional 2,395 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at about $1,461,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Broadridge Financial Solutions by 1.0% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 284,577 shares of the business services provider’s stock valued at $58,552,000 after acquiring an additional 2,815 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the company. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, July 20th. DA Davidson reissued a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. JPMorgan Chase & Co. boosted their target price on shares of Broadridge Financial Solutions from $213.00 to $224.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Royal Bank of Canada upped their price target on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $213.17.

Broadridge Financial Solutions Stock Performance

BR traded down $0.28 during trading hours on Friday, reaching $208.71. The company’s stock had a trading volume of 538,310 shares, compared to its average volume of 523,982. The company’s 50-day moving average is $204.60 and its 200-day moving average is $201.49. Broadridge Financial Solutions, Inc. has a 52 week low of $166.73 and a 52 week high of $223.81. The firm has a market cap of $24.67 billion, a PE ratio of 35.62 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 (NYSE:BR) last issued its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.01. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The company’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.21 earnings per share. On average, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be given a $0.88 dividend. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, September 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.69%. Broadridge Financial Solutions’s dividend payout ratio is presently 60.07%.

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 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 directly owns 22,588 shares of the company’s stock, valued at approximately $4,473,779.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Broadridge Financial Solutions 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 sale, the director now owns 22,588 shares in the company, valued at approximately $4,473,779.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Christopher John Perry sold 31,539 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the transaction, the president now owns 67,215 shares in the company, valued at approximately $13,938,374.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,485 shares of company stock worth $13,165,223. Company insiders own 1.60% of the company’s stock.

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.