Sugarloaf Wealth Management LLC Purchases 320 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Sugarloaf Wealth Management LLC lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,288 shares of the business services provider’s stock after purchasing an additional 320 shares during the period. Broadridge Financial Solutions comprises 0.7% of Sugarloaf Wealth Management LLC’s investment portfolio, making the stock its 25th largest holding. Sugarloaf Wealth Management LLC’s holdings in Broadridge Financial Solutions were worth $3,717,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BR. Confluence Investment Management LLC acquired a new position in shares of Broadridge Financial Solutions in the first quarter worth approximately $144,033,000. Vanguard Group Inc. raised its position in shares of Broadridge Financial Solutions by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 13,951,669 shares of the business services provider’s stock worth $2,870,556,000 after purchasing an additional 110,886 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Broadridge Financial Solutions by 22.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 472,031 shares of the business services provider’s stock worth $97,120,000 after purchasing an additional 86,853 shares during the period. Earnest Partners LLC raised its position in shares of Broadridge Financial Solutions by 25.9% during the first quarter. Earnest Partners LLC now owns 364,195 shares of the business services provider’s stock worth $74,609,000 after purchasing an additional 75,006 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Broadridge Financial Solutions by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock worth $185,417,000 after buying an additional 72,018 shares in the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. DA Davidson reiterated a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Royal Bank of Canada upped their price target on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Broadridge Financial Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $213.33.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR traded up $0.49 on Tuesday, hitting $215.67. The company’s stock had a trading volume of 111,730 shares, compared to its average volume of 526,254. The company has a 50-day simple moving average of $211.75 and a 200 day simple moving average of $204.15. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. Broadridge Financial Solutions, Inc. has a 1 year low of $166.73 and a 1 year high of $223.81. The company has a market capitalization of $25.49 billion, a PE ratio of 36.72 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.01. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the company earned $3.21 EPS. Broadridge Financial Solutions’s revenue for the quarter was up 5.7% compared to the same quarter last year. Sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a $0.88 dividend. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 60.07%.

Insider Transactions at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 162 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $210.00, for a total value of $34,020.00. Following the sale, the president now directly owns 67,267 shares in the company, valued at approximately $14,126,070. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, President Christopher John Perry sold 162 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $210.00, for a total value of $34,020.00. Following the sale, the president now directly owns 67,267 shares in the company, valued at approximately $14,126,070. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy C. Gokey sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $209.11, for a total value of $5,227,750.00. Following the completion of the transaction, the chief executive officer now owns 200,675 shares of the company’s stock, valued at approximately $41,963,149.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 134,386 shares of company stock worth $28,112,824. 1.60% of the stock is currently owned by 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.