Transform Wealth LLC Increases Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Transform Wealth LLC grew its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,098 shares of the business services provider’s stock after purchasing an additional 2,290 shares during the period. Transform Wealth LLC’s holdings in Broadridge Financial Solutions were worth $8,040,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BR. Headinvest LLC purchased a new stake in Broadridge Financial Solutions during the third quarter worth about $32,000. Stuart Chaussee & Associates Inc. bought a new position in Broadridge Financial Solutions during the fourth quarter worth about $34,000. Manchester Capital Management LLC boosted its position in shares of Broadridge Financial Solutions by 57.1% in the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 60 shares during the period. Truvestments Capital LLC bought a new position in shares of Broadridge Financial Solutions in the third quarter valued at approximately $37,000. Finally, BKM Wealth Management LLC bought a new position in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insider Buying and Selling

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 3,473 shares of the company’s stock in a transaction that occurred 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 completion of 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 Securities & Exchange Commission, which is available at the SEC website. In related news, Director Robert N. Duelks sold 3,473 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total transaction of $687,862.38. Following the sale, the director now owns 22,588 shares in the company, valued at approximately $4,473,779.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas P. Carey sold 2,500 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.40, for a total value of $501,000.00. Following the sale, the vice president now owns 9,361 shares in the company, valued at approximately $1,875,944.40. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Broadridge Financial Solutions Stock Down 0.5 %

Shares of BR stock traded down $1.02 during mid-day trading on Friday, reaching $198.19. 127,498 shares of the company’s stock traded hands, compared to its average volume of 507,777. Broadridge Financial Solutions, Inc. has a 12 month low of $161.33 and a 12 month high of $210.24. The company has a market cap of $23.42 billion, a P/E ratio of 33.98 and a beta of 1.03. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. The company’s 50-day moving average price is $198.03 and its 200-day moving average price is $199.87.

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

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, June 14th. Broadridge Financial Solutions’s payout ratio is currently 54.61%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $239.00 price objective on shares of Broadridge Financial Solutions in a research report on Friday. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Evercore ISI reissued an “outperform” rating and set a $230.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. Finally, DA Davidson reissued a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $206.67.

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.