Bahl & Gaynor Inc. Purchases 6,634 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Bahl & Gaynor Inc. increased its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,108,867 shares of the business services provider’s stock after purchasing an additional 6,634 shares during the quarter. Broadridge Financial Solutions makes up 1.2% of Bahl & Gaynor Inc.’s holdings, making the stock its 24th largest position. Bahl & Gaynor Inc. owned about 0.94% of Broadridge Financial Solutions worth $218,447,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. LPL Financial LLC grew its holdings in Broadridge Financial Solutions by 2.1% in the 2nd quarter. LPL Financial LLC now owns 260,264 shares of the business services provider’s stock valued at $51,272,000 after buying an additional 5,428 shares in the last quarter. AdvisorShares Investments LLC grew its stake in shares of Broadridge Financial Solutions by 7.4% in the second quarter. AdvisorShares Investments LLC now owns 28,762 shares of the business services provider’s stock valued at $5,653,000 after acquiring an additional 1,972 shares in the last quarter. Coldstream Capital Management Inc. increased its position in Broadridge Financial Solutions by 3.7% during the second quarter. Coldstream Capital Management Inc. now owns 10,905 shares of the business services provider’s stock worth $2,148,000 after acquiring an additional 392 shares during the period. Andra AP fonden raised its stake in Broadridge Financial Solutions by 3.7% in the 2nd quarter. Andra AP fonden now owns 139,100 shares of the business services provider’s stock worth $27,403,000 after purchasing an additional 4,900 shares in the last quarter. Finally, Choreo LLC bought a new stake in Broadridge Financial Solutions in the 2nd quarter valued at about $925,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, Chairman Richard J. Daly sold 21,938 shares of Broadridge Financial Solutions stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the completion of the sale, the chairman now owns 105,094 shares of the company’s stock, valued at $21,823,820.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Broadridge Financial Solutions news, Chairman Richard J. Daly sold 21,938 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the transaction, the chairman now directly owns 105,094 shares in the company, valued at $21,823,820.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Laura Matlin sold 673 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of the sale, the vice president now owns 5,530 shares of the company’s stock, valued at $1,194,480. The disclosure for this sale can be found here. Insiders sold a total of 116,852 shares of company stock valued at $24,370,893 in the last quarter. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on BR shares. Royal Bank of Canada raised their price objective on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. raised their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, DA Davidson reissued a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Broadridge Financial Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $213.33.

Broadridge Financial Solutions Trading Up 1.7 %

Shares of Broadridge Financial Solutions stock opened at $214.20 on Wednesday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $25.00 billion, a P/E ratio of 36.55 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 52-week low of $166.73 and a 52-week high of $223.81. The stock’s 50-day simple moving average is $209.06 and its 200 day simple moving average is $202.92.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 42.77% and a net margin of 10.73%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.21 EPS. As a group, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, September 12th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a yield of 1.64%. Broadridge Financial Solutions’s payout ratio is presently 54.61%.

Broadridge Financial Solutions Company 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.