Triad Wealth Partners LLC Makes New Investment in Broadridge Financial Solutions, Inc. (NYSE:BR)

Triad Wealth Partners LLC bought a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 222 shares of the business services provider’s stock, valued at approximately $44,000.

Several other institutional investors have also recently made changes to their positions in BR. Confluence Investment Management LLC bought a new position in Broadridge Financial Solutions in the first quarter worth approximately $144,033,000. APG Asset Management US Inc. bought a new position in shares of Broadridge Financial Solutions in the 4th quarter worth approximately $70,498,000. Norges Bank bought a new position in Broadridge Financial Solutions during the 4th quarter valued at approximately $67,605,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of 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 buying an additional 323,051 shares during the last quarter. Finally, Veritas Investment Partners UK Ltd. lifted its position in Broadridge Financial Solutions by 16.9% during the fourth quarter. Veritas Investment Partners UK Ltd. now owns 1,020,533 shares of the business services provider’s stock valued at $210,031,000 after purchasing an additional 147,293 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Broadridge Financial Solutions news, President Christopher John Perry sold 300 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $210.00, for a total value of $63,000.00. Following the transaction, the president now owns 67,254 shares in the company, valued at $14,123,340. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, President Christopher John Perry sold 300 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $210.00, for a total transaction of $63,000.00. Following the completion of the transaction, the president now directly owns 67,254 shares in the company, valued at $14,123,340. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Laura Matlin sold 673 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the transaction, the vice president now directly owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. The disclosure for this sale can be found here. Insiders sold a total of 63,485 shares of company stock worth $13,165,223 in the last ninety days. 1.60% of the stock is owned by insiders.

Broadridge Financial Solutions Stock Down 0.1 %

Shares of BR traded down $0.28 during trading hours on Friday, reaching $208.71. The company’s stock had a trading volume of 537,674 shares, compared to its average volume of 523,982. The firm has a market cap of $24.67 billion, a price-to-earnings ratio of 35.62 and a beta of 1.04. 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 has a 50 day moving average of $204.60 and a two-hundred day moving average of $201.49. Broadridge Financial Solutions, Inc. has a 1-year low of $166.73 and a 1-year high of $223.81.

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, topping the consensus estimate of $3.49 by $0.01. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company posted $3.21 earnings per share. As a group, research analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business 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 dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.69%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio is presently 60.07%.

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.