Suncoast Equity Management Purchases 505 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Suncoast Equity Management increased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,745 shares of the business services provider’s stock after buying an additional 505 shares during the period. Broadridge Financial Solutions accounts for approximately 0.6% of Suncoast Equity Management’s holdings, making the stock its 23rd biggest position. Suncoast Equity Management’s holdings in Broadridge Financial Solutions were worth $4,474,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Hamilton Point Investment Advisors LLC lifted its holdings in shares of Broadridge Financial Solutions by 2.5% during the 4th quarter. Hamilton Point Investment Advisors LLC now owns 22,630 shares of the business services provider’s stock worth $4,674,000 after acquiring an additional 557 shares during the period. Cornercap Investment Counsel Inc. bought a new position in shares of Broadridge Financial Solutions during the 4th quarter worth about $1,089,000. Strs Ohio increased its position in shares of Broadridge Financial Solutions by 34.2% during the 4th quarter. Strs Ohio now owns 35,571 shares of the business services provider’s stock worth $7,318,000 after purchasing an additional 9,071 shares in the last quarter. Vontobel Holding Ltd. increased its position in shares of Broadridge Financial Solutions by 294.6% during the 4th quarter. Vontobel Holding Ltd. now owns 14,452 shares of the business services provider’s stock worth $2,974,000 after purchasing an additional 10,790 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Broadridge Financial Solutions by 1.0% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 284,577 shares of the business services provider’s stock worth $58,552,000 after purchasing an additional 2,815 shares in the last quarter. 90.03% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Broadridge Financial Solutions Stock Down 0.5 %

BR traded down $0.94 during trading on Tuesday, reaching $194.73. The company had a trading volume of 159,336 shares, compared to its average volume of 515,097. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.40 and a quick ratio of 1.40. Broadridge Financial Solutions, Inc. has a 12 month low of $139.52 and a 12 month high of $210.24. The business’s fifty day moving average price is $201.16 and its 200 day moving average price is $193.79. The company has a market cap of $22.93 billion, a P/E ratio of 34.09 and a beta of 0.99.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Thursday, February 1st. The business services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 earnings per share. Equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a dividend of $0.80 per share. 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 1.64%. Broadridge Financial Solutions’s payout ratio is 55.75%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BR shares. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday. Evercore ISI restated an “outperform” rating and issued a $230.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. DA Davidson restated a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. Raymond James raised their price objective on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Finally, Royal Bank of Canada raised their price objective on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Broadridge Financial Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $206.67.

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.