Raymond James Financial Services Advisors Inc. Has $11.34 Million Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Raymond James Financial Services Advisors Inc. lifted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 55,364 shares of the business services provider’s stock after acquiring an additional 941 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Broadridge Financial Solutions were worth $11,342,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BR. Procyon Advisors LLC raised its position in shares of Broadridge Financial Solutions by 2.3% during the fourth quarter. Procyon Advisors LLC now owns 2,319 shares of the business services provider’s stock worth $477,000 after purchasing an additional 52 shares during the period. New York Life Investment Management LLC raised its holdings in Broadridge Financial Solutions by 0.3% during the fourth quarter. New York Life Investment Management LLC now owns 18,444 shares of the business services provider’s stock worth $3,795,000 after buying an additional 52 shares during the last quarter. Optas LLC lifted its stake in shares of Broadridge Financial Solutions by 3.8% in the fourth quarter. Optas LLC now owns 1,565 shares of the business services provider’s stock valued at $322,000 after buying an additional 57 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Broadridge Financial Solutions by 3.8% in the fourth quarter. Signaturefd LLC now owns 1,596 shares of the business services provider’s stock valued at $328,000 after buying an additional 58 shares in the last quarter. Finally, Manchester Capital Management LLC grew its holdings in shares of Broadridge Financial Solutions by 57.1% during the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock valued at $34,000 after buying an additional 60 shares during the last quarter. 90.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, VP Thomas P. Carey sold 12,731 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the transaction, the vice president now directly owns 13,303 shares in the company, valued at approximately $2,674,169.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Douglas Richard Deschutter sold 22,722 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the completion of the sale, the insider now directly owns 44,680 shares of the company’s stock, valued at $8,891,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas P. Carey sold 12,731 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the completion of the transaction, the vice president now directly owns 13,303 shares in the company, valued at approximately $2,674,169.06. The disclosure for this sale can be found here. Insiders sold 48,483 shares of company stock valued at $9,745,637 over the last three months. 1.60% of the stock is owned by company insiders.

Analyst Ratings Changes

BR has been the subject of several research analyst reports. Evercore ISI reaffirmed an “outperform” rating and set a $230.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Royal Bank of Canada lifted their price objective on Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. DA Davidson reiterated a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Raymond James lifted their price objective on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.67.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock traded up $3.50 during mid-day trading on Friday, hitting $198.85. The stock had a trading volume of 437,685 shares, compared to its average volume of 388,730. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.77. Broadridge Financial Solutions, Inc. has a one year low of $144.54 and a one year high of $210.24. The firm’s 50 day moving average is $200.27 and its 200 day moving average is $195.07. The firm has a market capitalization of $23.42 billion, a P/E ratio of 34.64 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Thursday, February 1st. The business services provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 earnings per share. On average, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a $0.80 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.20 dividend on an annualized basis and a yield of 1.61%. Broadridge Financial Solutions’s dividend payout ratio is presently 55.75%.

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.