Sequoia Financial Advisors LLC Buys 1,690 Shares of Broadridge Financial Solutions, Inc. $BR

Sequoia Financial Advisors LLC grew its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 146.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,843 shares of the business services provider’s stock after acquiring an additional 1,690 shares during the period. Sequoia Financial Advisors LLC’s holdings in Broadridge Financial Solutions were worth $691,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pegasus Asset Management Inc. bought a new position in Broadridge Financial Solutions in the second quarter worth approximately $235,000. MGO One Seven LLC raised its stake in Broadridge Financial Solutions by 47.8% in the second quarter. MGO One Seven LLC now owns 2,106 shares of the business services provider’s stock worth $512,000 after buying an additional 681 shares in the last quarter. CWM LLC raised its stake in Broadridge Financial Solutions by 1.9% in the second quarter. CWM LLC now owns 7,827 shares of the business services provider’s stock worth $1,902,000 after buying an additional 147 shares in the last quarter. OFI Invest Asset Management raised its stake in Broadridge Financial Solutions by 34.5% in the second quarter. OFI Invest Asset Management now owns 425 shares of the business services provider’s stock worth $103,000 after buying an additional 109 shares in the last quarter. Finally, Board of the Pension Protection Fund raised its stake in Broadridge Financial Solutions by 83.9% in the second quarter. Board of the Pension Protection Fund now owns 5,700 shares of the business services provider’s stock worth $1,385,000 after buying an additional 2,600 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Timothy C. Gokey sold 5,674 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $37,020,545.45. The trade was a 3.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Christopher John Perry sold 7,036 shares of the business’s stock in a transaction 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 in the company, valued at $12,824,151.36. This trade represents a 12.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,532 shares of company stock worth $38,417,208 over the last three months. Corporate insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Price Performance

NYSE BR opened at $228.97 on Monday. The firm’s fifty day simple moving average is $246.88 and its two-hundred day simple moving average is $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 12-month low of $208.20 and a 12-month high of $271.91. The firm has a market capitalization of $26.73 billion, a P/E ratio of 32.30 and a beta of 0.95.

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

Broadridge Financial Solutions Increases Dividend

The business 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. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.7%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Thursday, September 11th. Broadridge Financial Solutions’s dividend payout ratio is presently 55.01%.

Wall Street Analysts Forecast Growth

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

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.