USA Financial Formulas Makes New Investment in Broadridge Financial Solutions, Inc. (NYSE:BR)

USA Financial Formulas bought a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 908 shares of the business services provider’s stock, valued at approximately $220,000.

Other large investors have also modified their holdings of the company. Whipplewood Advisors LLC grew its position in shares of Broadridge Financial Solutions by 2,620.0% in the first quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 131 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $34,000. Gen Wealth Partners Inc acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $36,000. Curio Wealth LLC acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $45,000. Finally, Promus Capital LLC acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $52,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Broadridge Financial Solutions

In other news, insider Hope M. Jarkowski sold 1,068 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total value of $251,214.96. Following the completion of the sale, the insider now owns 1,070 shares of the company’s stock, valued at $251,685.40. This represents a 49.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas Richard Deschutter sold 5,056 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total transaction of $1,211,164.80. Following the completion of the sale, the insider now directly owns 21,167 shares of the company’s stock, valued at $5,070,554.85. The trade was a 19.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,116 shares of company stock valued at $4,352,298 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

BR has been the topic of several recent analyst reports. Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Needham & Company LLC initiated coverage on shares of Broadridge Financial Solutions in a research note on Tuesday, May 6th. They set a “buy” rating and a $300.00 price objective on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $259.00 price objective on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $250.83.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $241.01 on Thursday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The company has a market cap of $28.31 billion, a P/E ratio of 37.72 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a fifty-two week low of $192.68 and a fifty-two week high of $247.01. The firm’s 50 day moving average is $236.57 and its two-hundred day moving average is $235.00.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.03. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. Broadridge Financial Solutions’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.23 earnings per share. Analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Thursday, June 12th. Broadridge Financial Solutions’s dividend payout ratio is currently 52.93%.

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.