Reston Wealth Management LLC Invests $45,000 in Broadridge Financial Solutions, Inc. (NYSE:BR)

Reston Wealth Management LLC purchased a new position in Broadridge Financial Solutions, Inc. (NYSE:BR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 211 shares of the business services provider’s stock, valued at approximately $45,000.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position in Broadridge Financial Solutions by 14.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,418 shares of the business services provider’s stock valued at $1,520,000 after purchasing an additional 926 shares during the last quarter. State of Alaska Department of Revenue grew its position in Broadridge Financial Solutions by 0.6% in the first quarter. State of Alaska Department of Revenue now owns 12,801 shares of the business services provider’s stock worth $2,621,000 after acquiring an additional 80 shares in the last quarter. Norden Group LLC bought a new position in Broadridge Financial Solutions in the first quarter valued at $4,652,000. First Trust Direct Indexing L.P. boosted its stake in shares of Broadridge Financial Solutions by 6.7% during the first quarter. First Trust Direct Indexing L.P. now owns 3,130 shares of the business services provider’s stock valued at $641,000 after purchasing an additional 196 shares during the period. Finally, Ashton Thomas Private Wealth LLC increased its stake in shares of Broadridge Financial Solutions by 10.3% in the first quarter. Ashton Thomas Private Wealth LLC now owns 3,301 shares of the business services provider’s stock worth $676,000 after buying an additional 309 shares during the period. 90.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BR shares. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday. Royal Bank of Canada upped their price target on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lifted their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $213.33.

Insider Activity

In related news, VP Laura Matlin sold 673 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the sale, the vice president now owns 5,530 shares in the company, valued at approximately $1,194,480. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Broadridge Financial Solutions news, VP Laura Matlin sold 673 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the transaction, the vice president now directly owns 5,530 shares in the company, valued at approximately $1,194,480. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy C. Gokey sold 25,000 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the sale, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at approximately $41,963,149.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,386 shares of company stock valued at $28,112,824 over the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Trading Down 0.8 %

Broadridge Financial Solutions stock opened at $210.86 on Friday. Broadridge Financial Solutions, Inc. has a 12 month low of $168.76 and a 12 month high of $224.32. The company has a market capitalization of $24.92 billion, a price-to-earnings ratio of 35.98 and a beta of 1.05. The business’s fifty day simple moving average is $213.51 and its two-hundred day simple moving average is $205.89. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, beating the consensus estimate of $3.49 by $0.01. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. Broadridge Financial Solutions’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted $3.21 EPS. As a group, equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a $0.88 dividend. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.67%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.07%.

Broadridge Financial Solutions 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.