Chicago Equity Partners LLC Invests $1.61 Million in Broadridge Financial Solutions (BR)

Chicago Equity Partners LLC purchased a new stake in shares of Broadridge Financial Solutions (NYSE:BR) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 14,705 shares of the business services provider’s stock, valued at approximately $1,613,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Captrust Financial Advisors acquired a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at $133,000. Assetmark Inc. boosted its holdings in shares of Broadridge Financial Solutions by 397.5% during the fourth quarter. Assetmark Inc. now owns 1,582 shares of the business services provider’s stock valued at $143,000 after acquiring an additional 1,264 shares during the period. Weatherstone Capital Management acquired a new position in shares of Broadridge Financial Solutions during the first quarter valued at $201,000. Dupont Capital Management Corp acquired a new position in shares of Broadridge Financial Solutions during the first quarter valued at $232,000. Finally, Wetherby Asset Management Inc. acquired a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at $200,000. 85.34% of the stock is owned by institutional investors.

Shares of Broadridge Financial Solutions opened at $113.81 on Friday, according to Marketbeat Ratings. Broadridge Financial Solutions has a fifty-two week low of $114.97 and a fifty-two week high of $115.99. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.04. The stock has a market cap of $13.63 billion, a P/E ratio of 36.36, a P/E/G ratio of 2.75 and a beta of 0.86.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, May 8th. The business services provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.21. Broadridge Financial Solutions had a net margin of 9.37% and a return on equity of 45.33%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the business earned $0.69 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. analysts predict that Broadridge Financial Solutions will post 4.21 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 3rd. Investors of record on Friday, June 15th will be paid a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, June 14th. Broadridge Financial Solutions’s dividend payout ratio is currently 46.65%.

In other Broadridge Financial Solutions news, VP Julie R. Taylor sold 1,197 shares of the business’s stock in a transaction dated Thursday, May 10th. The shares were sold at an average price of $114.73, for a total value of $137,331.81. Following the sale, the vice president now directly owns 2,762 shares in the company, valued at $316,884.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard J. Daly sold 26,000 shares of the business’s stock in a transaction dated Tuesday, April 3rd. The stock was sold at an average price of $107.44, for a total transaction of $2,793,440.00. Following the completion of the sale, the chief executive officer now owns 337,845 shares in the company, valued at $36,298,066.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 83,447 shares of company stock worth $9,072,173. Company insiders own 2.60% of the company’s stock.

BR has been the subject of several analyst reports. Zacks Investment Research raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a report on Wednesday, January 31st. Sandler O’Neill set a $95.00 price objective on shares of Broadridge Financial Solutions and gave the company a “hold” rating in a research note on Thursday, February 8th. ValuEngine upgraded shares of Broadridge Financial Solutions from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. DA Davidson lifted their price objective on shares of Broadridge Financial Solutions from $90.00 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, March 28th. Finally, Barclays lifted their price objective on shares of Broadridge Financial Solutions from $96.00 to $100.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Six analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. Broadridge Financial Solutions presently has a consensus rating of “Hold” and a consensus target price of $100.25.

Broadridge Financial Solutions Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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