Stanley Laman Group Ltd. Acquires Shares of 938 Broadridge Financial Solutions, Inc. (NYSE:BR)

Stanley Laman Group Ltd. acquired a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 938 shares of the business services provider’s stock, valued at approximately $227,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sunburst Financial Group LLC increased its stake in Broadridge Financial Solutions by 4.8% in the 4th quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider’s stock valued at $229,000 after buying an additional 46 shares during the last quarter. Nicolet Advisory Services LLC grew its position in shares of Broadridge Financial Solutions by 4.8% during the 4th quarter. Nicolet Advisory Services LLC now owns 1,010 shares of the business services provider’s stock valued at $224,000 after acquiring an additional 46 shares during the period. Advisors Capital Management LLC grew its position in shares of Broadridge Financial Solutions by 3.5% during the 4th quarter. Advisors Capital Management LLC now owns 1,440 shares of the business services provider’s stock valued at $326,000 after acquiring an additional 49 shares during the period. TCTC Holdings LLC grew its position in shares of Broadridge Financial Solutions by 0.9% during the 4th quarter. TCTC Holdings LLC now owns 5,979 shares of the business services provider’s stock valued at $1,352,000 after acquiring an additional 52 shares during the period. Finally, Mindset Wealth Management LLC grew its position in shares of Broadridge Financial Solutions by 2.8% during the 4th quarter. Mindset Wealth Management LLC now owns 1,971 shares of the business services provider’s stock valued at $446,000 after acquiring an additional 54 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Down 1.2%

BR opened at $236.94 on Friday. The company has a 50 day moving average of $237.39 and a 200 day moving average of $235.05. The company has a market cap of $27.83 billion, a PE ratio of 37.08 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a 12 month low of $192.68 and a 12 month high of $247.01. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, topping the consensus estimate of $2.41 by $0.03. The company had revenue of $1.81 billion during 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 for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the firm earned $2.23 EPS. On average, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.49%. The ex-dividend date is Thursday, June 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 52.93%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,068 shares of the firm’s 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 transaction, the insider now directly owns 1,070 shares of the company’s stock, valued at $251,685.40. This trade represents a 49.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas P. Carey sold 3,607 shares of the firm’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total transaction of $855,796.82. Following the completion of the transaction, the vice president now directly owns 6,077 shares of the company’s stock, valued at approximately $1,441,829.02. The trade was a 37.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,116 shares of company stock valued at $4,352,298. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Needham & Company LLC assumed coverage on shares of Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a “buy” rating and a $300.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and set a $259.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Finally, Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $250.83.

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.