Lincoln National Corp Buys 781 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Lincoln National Corp lifted its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 25.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,835 shares of the business services provider’s stock after buying an additional 781 shares during the period. Lincoln National Corp’s holdings in Broadridge Financial Solutions were worth $789,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. grew its holdings in Broadridge Financial Solutions by 0.6% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 11,633 shares of the business services provider’s stock worth $2,083,000 after acquiring an additional 69 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Broadridge Financial Solutions by 0.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,990 shares of the business services provider’s stock worth $8,593,000 after purchasing an additional 193 shares during the last quarter. Park Avenue Securities LLC purchased a new position in Broadridge Financial Solutions during the 3rd quarter valued at about $1,540,000. TIAA Trust National Association bought a new position in Broadridge Financial Solutions during the 3rd quarter valued at approximately $1,031,000. Finally, ING Groep NV purchased a new stake in Broadridge Financial Solutions in the 3rd quarter worth approximately $2,655,000. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Up 1.4 %

Shares of Broadridge Financial Solutions stock opened at $193.04 on Friday. The company has a 50-day simple moving average of $199.85 and a two-hundred day simple moving average of $195.61. The stock has a market capitalization of $22.73 billion, a PE ratio of 33.63 and a beta of 0.98. Broadridge Financial Solutions, Inc. has a 52-week low of $144.54 and a 52-week high of $210.24. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.40 and a current ratio of 1.40.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.24 by ($0.01). The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.05 EPS. On average, analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio is currently 55.75%.

Insiders Place Their Bets

In related news, insider Douglas Richard Deschutter sold 12,200 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the completion of the sale, the insider now owns 32,480 shares in the company, valued at $6,648,980.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 12,200 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the completion of the sale, the insider now directly owns 32,480 shares of the company’s stock, valued at $6,648,980.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert N. Duelks sold 830 shares of Broadridge Financial Solutions stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $201.58, for a total transaction of $167,311.40. Following the transaction, the director now owns 5,445 shares in the company, valued at approximately $1,097,603.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,761 shares of company stock valued at $5,223,959. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Evercore ISI reissued an “outperform” rating and set a $230.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. Raymond James boosted 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. Royal Bank of Canada upped their price objective on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. DA Davidson reaffirmed a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th. Finally, StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $206.67.

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.