Envestnet Portfolio Solutions Inc. Raises Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Envestnet Portfolio Solutions Inc. increased its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 39.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 28,144 shares of the business services provider’s stock after purchasing an additional 8,001 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Broadridge Financial Solutions were worth $5,766,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BR. Headinvest LLC purchased a new stake in Broadridge Financial Solutions during the 3rd quarter worth about $32,000. LifeSteps Financial Inc. purchased a new stake in Broadridge Financial Solutions during the 1st quarter worth about $32,000. Stuart Chaussee & Associates Inc. purchased a new stake in Broadridge Financial Solutions during the 4th quarter worth about $34,000. Manchester Capital Management LLC lifted its holdings in Broadridge Financial Solutions by 57.1% during the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock worth $34,000 after purchasing an additional 60 shares in the last quarter. Finally, BKM Wealth Management LLC purchased a new stake in Broadridge Financial Solutions during the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on BR shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $239.00 price target on shares of Broadridge Financial Solutions in a report on Friday, June 28th. DA Davidson reaffirmed a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $230.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $206.67.

Insider Buying and Selling

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

Broadridge Financial Solutions Price Performance

Shares of Broadridge Financial Solutions stock traded up $1.82 during trading on Friday, hitting $205.29. 336,693 shares of the stock traded hands, compared to its average volume of 504,543. 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 stock has a market cap of $24.26 billion, a price-to-earnings ratio of 34.72 and a beta of 1.04. The firm’s fifty day moving average is $199.07 and its 200-day moving average is $200.20. 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 announced its quarterly earnings data on Wednesday, May 8th. The business services provider reported $2.23 EPS for the quarter, missing the consensus estimate of $2.24 by ($0.01). The firm 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%. Broadridge Financial Solutions’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.05 earnings per share. Research analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

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