Avanza Fonder AB Invests $1.68 Million in Broadridge Financial Solutions, Inc. (NYSE:BR)

Avanza Fonder AB acquired a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the 4th quarter, Holdings Channel reports. The fund acquired 7,408 shares of the business services provider’s stock, valued at approximately $1,675,000.

A number of other hedge funds have also recently bought and sold shares of BR. Bogart Wealth LLC lifted its stake in shares of Broadridge Financial Solutions by 384.0% during the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after purchasing an additional 96 shares during the period. True Wealth Design LLC grew its position in shares of Broadridge Financial Solutions by 2,028.6% in the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 142 shares during the period. Fortitude Family Office LLC increased its stake in Broadridge Financial Solutions by 246.7% in the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 111 shares during the last quarter. Hazlett Burt & Watson Inc. purchased a new position in Broadridge Financial Solutions during the third quarter worth about $38,000. Finally, FSA Wealth Management LLC acquired a new stake in Broadridge Financial Solutions in the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BR. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. UBS Group began coverage on shares of Broadridge Financial Solutions in a research note on Thursday, November 21st. They set a “neutral” rating and a $250.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Morgan Stanley upped their price objective on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Finally, DA Davidson lifted their target price on Broadridge Financial Solutions from $210.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $226.71.

Broadridge Financial Solutions Trading Down 0.3 %

NYSE:BR opened at $230.35 on Friday. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $237.96. The business’s 50-day moving average is $229.43 and its two-hundred day moving average is $217.90. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. The firm has a market capitalization of $26.93 billion, a PE ratio of 39.85 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the company posted $1.09 EPS. Broadridge Financial Solutions’s revenue for the quarter was down .6% on a year-over-year basis. Research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Friday, December 13th. Broadridge Financial Solutions’s payout ratio is 60.90%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 24,185 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the completion of the sale, the insider now owns 27,137 shares in the company, valued at $5,975,838.77. This trade represents a 47.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas P. Carey sold 10,757 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $226.82, for a total value of $2,439,902.74. Following the sale, the vice president now owns 12,689 shares in the company, valued at $2,878,118.98. This represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,532 shares of company stock valued at $12,264,846 in the last quarter. Company insiders own 1.30% of the company’s stock.

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.