Broadridge Financial Solutions, Inc. $BR Shares Bought by Tectonic Advisors LLC

Tectonic Advisors LLC raised its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,972 shares of the business services provider’s stock after purchasing an additional 62 shares during the period. Tectonic Advisors LLC’s holdings in Broadridge Financial Solutions were worth $479,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BR. Jones Financial Companies Lllp grew its holdings in Broadridge Financial Solutions by 28,222.6% in the first quarter. Jones Financial Companies Lllp now owns 949,657 shares of the business services provider’s stock valued at $230,254,000 after purchasing an additional 946,304 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Broadridge Financial Solutions by 577.9% during the first quarter. Ameriprise Financial Inc. now owns 1,035,938 shares of the business services provider’s stock valued at $251,513,000 after acquiring an additional 883,125 shares during the last quarter. Vanguard Group Inc. boosted its stake in Broadridge Financial Solutions by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 14,733,147 shares of the business services provider’s stock worth $3,572,199,000 after buying an additional 438,381 shares during the last quarter. Nuveen LLC acquired a new stake in Broadridge Financial Solutions during the 1st quarter worth approximately $91,445,000. Finally, Principal Financial Group Inc. increased its position in Broadridge Financial Solutions by 156.8% during the 1st quarter. Principal Financial Group Inc. now owns 404,830 shares of the business services provider’s stock worth $98,155,000 after purchasing an additional 247,157 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on BR shares. Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Needham & Company LLC increased their target price on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Morgan Stanley increased their target price on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. UBS Group increased their target price on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Broadridge Financial Solutions in a research report on Wednesday. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Broadridge Financial Solutions currently has an average rating of “Hold” and an average target price of $261.50.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR opened at $232.81 on Friday. The company has a market cap of $27.17 billion, a P/E ratio of 32.84 and a beta of 0.95. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.98 and a current ratio of 0.98. Broadridge Financial Solutions, Inc. has a one year low of $208.20 and a one year high of $271.91. The business’s 50-day simple moving average is $250.05 and its 200 day simple moving average is $242.53.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. The business had revenue of $1.05 billion for the quarter. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%. On average, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th were issued a dividend of $0.975 per share. The ex-dividend date was Thursday, September 11th. This represents a $3.90 annualized dividend and a yield of 1.7%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.01%.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 5,674 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $258.37, for a total transaction of $1,465,991.38. Following the sale, the chief executive officer directly owned 143,285 shares in the company, valued at $37,020,545.45. The trade was a 3.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Christopher John Perry sold 7,036 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total value of $1,848,497.92. Following the sale, the president owned 48,813 shares in the company, valued at $12,824,151.36. This represents a 12.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,532 shares of company stock worth $38,417,208 over the last 90 days. 1.10% of the stock is owned by company insiders.

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.