Integrated Wealth Concepts LLC Acquires 2,381 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Integrated Wealth Concepts LLC lifted its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 10.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,950 shares of the business services provider’s stock after buying an additional 2,381 shares during the period. Integrated Wealth Concepts LLC’s holdings in Broadridge Financial Solutions were worth $5,365,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bahl & Gaynor Inc. lifted its stake in shares of Broadridge Financial Solutions by 0.6% in the second quarter. Bahl & Gaynor Inc. now owns 1,108,867 shares of the business services provider’s stock worth $218,447,000 after buying an additional 6,634 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Broadridge Financial Solutions by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock worth $185,417,000 after buying an additional 72,018 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Broadridge Financial Solutions by 2.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider’s stock worth $194,585,000 after buying an additional 20,775 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Broadridge Financial Solutions by 3.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 800,716 shares of the business services provider’s stock worth $157,741,000 after buying an additional 28,614 shares in the last quarter. Finally, abrdn plc lifted its stake in shares of Broadridge Financial Solutions by 5.5% in the third quarter. abrdn plc now owns 536,083 shares of the business services provider’s stock worth $114,451,000 after buying an additional 27,869 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BR shares. JPMorgan Chase & Co. upped their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Morgan Stanley boosted their price objective on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. UBS Group started coverage on shares of Broadridge Financial Solutions in a report on Thursday, November 21st. They set a “neutral” rating and a $250.00 price objective for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $246.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Broadridge Financial Solutions has a consensus rating of “Hold” and a consensus target price of $222.43.

Insider Transactions at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 10,757 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the completion of the transaction, the vice president now directly owns 12,689 shares of the company’s stock, valued at approximately $2,878,118.98. This trade represents a 45.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Maura A. Markus sold 3,880 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $227.02, for a total transaction of $880,837.60. Following the transaction, the director now directly owns 27,788 shares of the company’s stock, valued at $6,308,431.76. The trade was a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 94,004 shares of company stock valued at $20,562,422 over the last three months. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Up 0.3 %

Shares of BR stock opened at $232.86 on Thursday. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $237.74. The stock has a market cap of $27.22 billion, a P/E ratio of 40.29 and a beta of 1.07. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. The company has a 50 day simple moving average of $220.97 and a two-hundred day simple moving average of $211.02.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.09 earnings per share. On average, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.51%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.90%.

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.