Portside Wealth Group LLC Has $527,000 Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Portside Wealth Group LLC lifted its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 9.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,173 shares of the business services provider’s stock after purchasing an additional 196 shares during the quarter. Portside Wealth Group LLC’s holdings in Broadridge Financial Solutions were worth $527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in Broadridge Financial Solutions by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 14,294,766 shares of the business services provider’s stock worth $3,231,904,000 after purchasing an additional 74,674 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Broadridge Financial Solutions by 50.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider’s stock worth $804,952,000 after buying an additional 1,186,555 shares during the last quarter. Geode Capital Management LLC raised its position in Broadridge Financial Solutions by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 3,037,015 shares of the business services provider’s stock valued at $684,971,000 after acquiring an additional 37,141 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Broadridge Financial Solutions by 2.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,649,761 shares of the business services provider’s stock valued at $378,175,000 after acquiring an additional 43,533 shares during the last quarter. Finally, Barclays PLC lifted its stake in Broadridge Financial Solutions by 2.5% in the fourth quarter. Barclays PLC now owns 1,648,527 shares of the business services provider’s stock valued at $372,713,000 after acquiring an additional 40,506 shares during the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Maura A. Markus sold 3,556 shares of the business’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total transaction of $864,392.48. Following the transaction, the director now directly owns 30,892 shares in the company, valued at $7,509,227.36. The trade was a 10.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Hope M. Jarkowski sold 1,068 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 1,070 shares of the company’s stock, valued at approximately $251,685.40. This trade represents a 49.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,116 shares of company stock valued at $4,352,298. 1.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Wall Street Zen upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Finally, Needham & Company LLC initiated coverage on Broadridge Financial Solutions in a research note on Tuesday, May 6th. They set a “buy” rating and a $300.00 price target for the company. Five research 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, Broadridge Financial Solutions presently has a consensus rating of “Hold” and a consensus target price of $250.83.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $243.74 on Tuesday. The company has a market capitalization of $28.63 billion, a PE ratio of 38.14 and a beta of 0.96. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. Broadridge Financial Solutions, Inc. has a one year low of $192.68 and a one year high of $247.01. The company’s fifty day moving average price is $236.20 and its 200 day moving average price is $234.90.

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

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be paid a $0.88 dividend. The ex-dividend date is Thursday, June 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.44%. Broadridge Financial Solutions’s payout ratio is 52.93%.

About Broadridge Financial Solutions

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.