Broadridge Financial Solutions, Inc. (NYSE:BR) Holdings Lifted by Jacobi Capital Management LLC

Jacobi Capital Management LLC raised its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 33.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,025 shares of the business services provider’s stock after acquiring an additional 753 shares during the quarter. Jacobi Capital Management LLC’s holdings in Broadridge Financial Solutions were worth $620,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. LifeSteps Financial Inc. bought a new stake in Broadridge Financial Solutions during the first quarter worth approximately $32,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at $34,000. Manchester Capital Management LLC lifted its position in shares of Broadridge Financial Solutions by 57.1% during the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 60 shares during the last quarter. BKM Wealth Management LLC bought a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth $37,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Broadridge Financial Solutions in the 4th quarter worth $39,000. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Up 1.4 %

BR traded up $2.84 during trading on Monday, reaching $204.73. 817,714 shares of the stock traded hands, compared to its average volume of 508,711. The stock’s 50-day simple moving average is $200.37 and its two-hundred day simple moving average is $200.38. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39. Broadridge Financial Solutions, Inc. has a fifty-two week low of $164.99 and a fifty-two week high of $211.68. The stock has a market cap of $24.19 billion, a price-to-earnings ratio of 34.94 and a beta of 1.04.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.01). The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.05 earnings per share. As a group, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 14th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 54.61%.

Wall Street Analyst Weigh In

BR has been the subject of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $239.00 target price on shares of Broadridge Financial Solutions in a report on Friday, June 28th. DA Davidson reaffirmed a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Evercore ISI restated an “outperform” rating and issued a $230.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Broadridge Financial Solutions presently has a consensus rating of “Hold” and a consensus price target of $206.67.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 3,473 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total value of $687,862.38. Following the sale, the director now owns 22,588 shares of the company’s stock, valued at approximately $4,473,779.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Thomas P. Carey sold 2,500 shares of Broadridge Financial Solutions stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $200.40, for a total transaction of $501,000.00. Following the completion of the transaction, the vice president now directly owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert N. Duelks sold 3,473 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total transaction of $687,862.38. Following the completion of the transaction, the director now owns 22,588 shares of the company’s stock, valued at approximately $4,473,779.28. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

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.