Schwab Charles Investment Management Inc. Raises Holdings in Broadridge Financial Solutions (BR)

Schwab Charles Investment Management Inc. grew its stake in shares of Broadridge Financial Solutions (NYSE:BR) by 12.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 447,862 shares of the business services provider’s stock after purchasing an additional 49,428 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.38% of Broadridge Financial Solutions worth $49,126,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Bank of Montreal Can raised its holdings in shares of Broadridge Financial Solutions by 10.2% during the fourth quarter. Bank of Montreal Can now owns 33,733 shares of the business services provider’s stock valued at $3,057,000 after acquiring an additional 3,122 shares in the last quarter. Creative Planning raised its holdings in Broadridge Financial Solutions by 31.2% in the fourth quarter. Creative Planning now owns 9,939 shares of the business services provider’s stock worth $900,000 after purchasing an additional 2,365 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Broadridge Financial Solutions by 3,842.0% in the fourth quarter. Acadian Asset Management LLC now owns 17,266 shares of the business services provider’s stock worth $1,564,000 after purchasing an additional 16,828 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Broadridge Financial Solutions by 239.2% during the fourth quarter. State of Alaska Department of Revenue now owns 15,685 shares of the business services provider’s stock valued at $1,420,000 after acquiring an additional 11,061 shares in the last quarter. Finally, Strs Ohio increased its holdings in shares of Broadridge Financial Solutions by 36.4% during the fourth quarter. Strs Ohio now owns 10,990 shares of the business services provider’s stock valued at $995,000 after acquiring an additional 2,931 shares in the last quarter. 84.64% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions opened at $114.76 on Monday, according to MarketBeat Ratings. The firm has a market capitalization of $13.53 billion, a PE ratio of 28.41, a P/E/G ratio of 2.73 and a beta of 0.86. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.57 and a quick ratio of 1.57. Broadridge Financial Solutions has a 12 month low of $71.58 and a 12 month high of $118.36.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, May 8th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.21. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.03 billion. Broadridge Financial Solutions had a return on equity of 45.33% and a net margin of 9.37%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.69 EPS. research analysts expect that Broadridge Financial Solutions will post 4.21 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 3rd. Stockholders of record on Friday, June 15th will be paid a $0.365 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.27%. Broadridge Financial Solutions’s payout ratio is 46.65%.

Several equities research analysts recently commented on BR shares. Zacks Investment Research raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a research report on Wednesday, January 31st. Sandler O’Neill set a $95.00 price objective on Broadridge Financial Solutions and gave the stock a “hold” rating in a research note on Thursday, February 8th. Barclays raised their price objective on Broadridge Financial Solutions from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. ValuEngine raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, DA Davidson lifted their target price on Broadridge Financial Solutions from $90.00 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, March 28th. Six research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $100.25.

In related news, insider Robert F. Kalenka sold 13,457 shares of the stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $117.45, for a total value of $1,580,524.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Adam D. Amsterdam sold 19,600 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $99.36, for a total value of $1,947,456.00. The disclosure for this sale can be found here. Insiders sold 83,447 shares of company stock worth $9,072,173 in the last 90 days. Company insiders own 2.60% of the company’s stock.

About Broadridge Financial Solutions

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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