Texas Capital Bank Wealth Management Services Inc Purchases 55 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Texas Capital Bank Wealth Management Services Inc lifted its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,581 shares of the business services provider’s stock after acquiring an additional 55 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in Broadridge Financial Solutions were worth $324,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BR. LifeSteps Financial Inc. purchased a new stake in Broadridge Financial Solutions during the first quarter valued at approximately $32,000. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth $34,000. Manchester Capital Management LLC increased its stake in shares of Broadridge Financial Solutions by 57.1% in the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock worth $34,000 after purchasing an additional 60 shares in the last quarter. BKM Wealth Management LLC purchased a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth $37,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth $39,000. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

BR traded up $0.82 during trading on Tuesday, hitting $205.55. 301,244 shares of the company traded hands, compared to its average volume of 507,228. Broadridge Financial Solutions, Inc. has a 1 year low of $164.99 and a 1 year high of $211.68. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55. The stock’s 50-day simple moving average is $200.48 and its two-hundred day simple moving average is $200.44. The company has a market cap of $24.29 billion, a PE ratio of 35.08 and a beta of 1.04.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Wednesday, May 8th. The business services provider reported $2.23 EPS for the quarter, missing the consensus estimate of $2.24 by ($0.01). Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the business earned $2.05 EPS. Broadridge Financial Solutions’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 14th were given a dividend of $0.80 per share. The ex-dividend date was Friday, June 14th. This represents a $3.20 annualized dividend and a yield of 1.56%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 54.61%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $239.00 price objective on shares of Broadridge Financial Solutions in a research note on Friday, June 28th. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday. DA Davidson reissued a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $230.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $206.67.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 2,500 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $200.40, for a total value of $501,000.00. Following the completion of the sale, the vice president now owns 9,361 shares in the company, valued at approximately $1,875,944.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Robert N. Duelks sold 3,473 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total value of $687,862.38. Following the transaction, the director now owns 22,588 shares of the company’s stock, valued at approximately $4,473,779.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas P. Carey sold 2,500 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.40, for a total transaction of $501,000.00. Following the completion of the transaction, the vice president now directly owns 9,361 shares in the company, valued at approximately $1,875,944.40. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

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.