Princeton Global Asset Management LLC Has $4.30 Million Position in Broadridge Financial Solutions, Inc. $BR

Princeton Global Asset Management LLC lowered its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.3% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 17,707 shares of the business services provider’s stock after selling 423 shares during the period. Princeton Global Asset Management LLC’s holdings in Broadridge Financial Solutions were worth $4,303,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in BR. Jones Financial Companies Lllp raised its position in shares of Broadridge Financial Solutions by 28,222.6% during 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 buying an additional 946,304 shares during the last quarter. Ameriprise Financial Inc. raised its position 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 buying an additional 883,125 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Broadridge Financial Solutions by 3.1% during the first quarter. Vanguard Group Inc. now owns 14,733,147 shares of the business services provider’s stock valued at $3,572,199,000 after buying an additional 438,381 shares during the last quarter. Nuveen LLC acquired a new position in shares of Broadridge Financial Solutions during the first quarter valued at about $91,445,000. Finally, Principal Financial Group Inc. raised its position in shares of Broadridge Financial Solutions by 156.8% during the first quarter. Principal Financial Group Inc. now owns 404,830 shares of the business services provider’s stock valued at $98,155,000 after buying an additional 247,157 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Activity at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 7,036 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the sale, the president directly owned 48,813 shares of the company’s stock, valued at $12,824,151.36. This represents a 12.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy C. Gokey sold 5,674 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were 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. This trade represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 147,532 shares of company stock valued at $38,417,208. Company insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $228.97 on Monday. The firm has a market cap of $26.73 billion, a price-to-earnings ratio of 32.30 and a beta of 0.95. The company has a 50 day moving average of $246.88 and a 200-day moving average of $242.19. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.04. Broadridge Financial Solutions, Inc. has a 1-year low of $208.20 and a 1-year high of $271.91.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 earnings per share for the quarter. The company had revenue of $1.05 billion during the quarter. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. On average, equities 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were issued a dividend of $0.975 per share. The ex-dividend date of this dividend was Thursday, September 11th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. This represents a $3.90 annualized dividend and a dividend yield of 1.7%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 55.01%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on BR shares. Needham & Company LLC increased their price target 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. Weiss Ratings reissued a “buy (b)” rating on shares of Broadridge Financial Solutions in a research report on Wednesday, October 8th. 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. UBS Group increased their price target 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, Morgan Stanley increased their price target 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. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $261.50.

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.