Wedmont Private Capital Raises Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Wedmont Private Capital boosted its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 16.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,664 shares of the business services provider’s stock after buying an additional 241 shares during the quarter. Wedmont Private Capital’s holdings in Broadridge Financial Solutions were worth $358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC boosted its stake in shares of Broadridge Financial Solutions by 3.3% during the third quarter. CWM LLC now owns 7,272 shares of the business services provider’s stock valued at $1,564,000 after purchasing an additional 231 shares during the period. Tilia Fiduciary Partners Inc. boosted its stake in shares of Broadridge Financial Solutions by 6.3% during the third quarter. Tilia Fiduciary Partners Inc. now owns 11,716 shares of the business services provider’s stock valued at $2,519,000 after purchasing an additional 692 shares during the period. Sugarloaf Wealth Management LLC boosted its stake in shares of Broadridge Financial Solutions by 1.9% during the third quarter. Sugarloaf Wealth Management LLC now owns 17,288 shares of the business services provider’s stock valued at $3,717,000 after purchasing an additional 320 shares during the period. Atomi Financial Group Inc. purchased a new stake in shares of Broadridge Financial Solutions during the third quarter valued at approximately $632,000. Finally, Park Place Capital Corp boosted its stake in shares of Broadridge Financial Solutions by 38.7% during the third quarter. Park Place Capital Corp now owns 4,440 shares of the business services provider’s stock valued at $955,000 after purchasing an additional 1,238 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Laura Matlin sold 673 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total value of $145,368.00. Following the completion of the transaction, the vice president now owns 5,530 shares in the company, valued at approximately $1,194,480. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Laura Matlin sold 673 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of the transaction, the vice president now directly owns 5,530 shares in the company, valued at $1,194,480. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Christopher John Perry sold 17,534 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total value of $3,741,930.94. Following the transaction, the president now owns 50,237 shares of the company’s stock, valued at $10,721,078.17. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 134,386 shares of company stock worth $28,112,824. 1.30% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Price Performance

Shares of Broadridge Financial Solutions stock opened at $220.74 on Friday. The business has a 50 day moving average of $212.02 and a 200 day moving average of $204.59. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55. The company has a market cap of $25.80 billion, a PE ratio of 37.67 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 52 week low of $166.73 and a 52 week high of $223.81.

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

Broadridge Financial Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a $0.88 dividend. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, September 12th. This represents a $3.52 dividend on an annualized basis and a yield of 1.59%. Broadridge Financial Solutions’s dividend payout ratio is 60.07%.

Analyst Upgrades and Downgrades

BR has been the subject of a number of analyst reports. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. upped their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, Royal Bank of Canada upped their target price on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $213.33.

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.