Charles Schwab Investment Management Inc. Purchases 758 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Charles Schwab Investment Management Inc. boosted its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 616,706 shares of the business services provider’s stock after purchasing an additional 758 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.52% of Broadridge Financial Solutions worth $102,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Cetera Investment Advisers increased its position in shares of Broadridge Financial Solutions by 9.9% during the second quarter. Cetera Investment Advisers now owns 7,380 shares of the business services provider’s stock worth $1,222,000 after acquiring an additional 662 shares during the period. Souders Financial Advisors purchased a new position in shares of Broadridge Financial Solutions during the second quarter worth approximately $230,000. TD Asset Management Inc increased its position in shares of Broadridge Financial Solutions by 24.3% during the second quarter. TD Asset Management Inc now owns 253,533 shares of the business services provider’s stock worth $41,993,000 after acquiring an additional 49,487 shares during the period. Spotlight Asset Group Inc. purchased a new position in Broadridge Financial Solutions during the second quarter valued at approximately $144,000. Finally, Ellevest Inc. increased its holdings in Broadridge Financial Solutions by 364.8% during the second quarter. Ellevest Inc. now owns 1,929 shares of the business services provider’s stock valued at $320,000 after buying an additional 1,514 shares during the period. Institutional investors own 89.36% of the company’s stock.

Broadridge Financial Solutions Trading Up 0.6 %

NYSE:BR opened at $183.71 on Tuesday. Broadridge Financial Solutions, Inc. has a 12 month low of $131.83 and a 12 month high of $189.69. The firm has a fifty day simple moving average of $179.11 and a 200-day simple moving average of $170.70. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $21.61 billion, a P/E ratio of 32.63 and a beta of 0.96.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.80 per share. The ex-dividend date is Thursday, December 14th. This represents a $3.20 annualized dividend and a dividend yield of 1.74%. Broadridge Financial Solutions’s payout ratio is currently 56.84%.

Insider Transactions at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 20,614 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $176.94, for a total transaction of $3,647,441.16. Following the completion of the sale, the president now directly owns 56,738 shares in the company, valued at $10,039,221.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Broadridge Financial Solutions news, President Christopher John Perry sold 20,614 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $176.94, for a total value of $3,647,441.16. Following the sale, the president now directly owns 56,738 shares of the company’s stock, valued at $10,039,221.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Richard J. Daly sold 8,297 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $185.40, for a total transaction of $1,538,263.80. Following the completion of the sale, the chairman now directly owns 111,721 shares in the company, valued at $20,713,073.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,204 shares of company stock worth $8,745,671. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

BR has been the topic of several research reports. Royal Bank of Canada reissued an “outperform” rating and set a $190.00 price objective on shares of Broadridge Financial Solutions in a report on Thursday, September 28th. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Wednesday, October 18th. Morgan Stanley raised their target price on shares of Broadridge Financial Solutions from $165.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 9th. DA Davidson raised their target price on shares of Broadridge Financial Solutions from $160.00 to $164.00 and gave the company a “neutral” rating in a research note on Wednesday, August 9th. Finally, Wolfe Research upgraded shares of Broadridge Financial Solutions from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, October 17th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $173.67.

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.