Concurrent Investment Advisors LLC Purchases 1,154 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Concurrent Investment Advisors LLC boosted its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 13.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,992 shares of the business services provider’s stock after buying an additional 1,154 shares during the period. Concurrent Investment Advisors LLC’s holdings in Broadridge Financial Solutions were worth $2,259,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Broadridge Financial Solutions during the 3rd quarter valued at about $44,746,000. Assenagon Asset Management S.A. boosted its stake in Broadridge Financial Solutions by 3,197.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider’s stock valued at $43,945,000 after purchasing an additional 198,169 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in Broadridge Financial Solutions by 2,302.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 147,004 shares of the business services provider’s stock valued at $31,618,000 after purchasing an additional 140,886 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Broadridge Financial Solutions during the 3rd quarter valued at about $274,650,000. Finally, BNP Paribas Financial Markets boosted its stake in Broadridge Financial Solutions by 97.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 198,878 shares of the business services provider’s stock valued at $42,765,000 after purchasing an additional 98,275 shares during the last quarter. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock opened at $235.31 on Friday. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $244.47. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The business’s 50 day simple moving average is $232.79 and its 200 day simple moving average is $223.36. The company has a market cap of $27.54 billion, a price-to-earnings ratio of 36.82 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period in the prior year, the business earned $0.92 EPS. Sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 annualized dividend and a yield of 1.50%. Broadridge Financial Solutions’s payout ratio is 55.09%.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 15,710 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the sale, the vice president now owns 12,146 shares of the company’s stock, valued at $2,797,466.72. The trade was a 56.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Laura Matlin sold 514 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the sale, the vice president now directly owns 6,602 shares in the company, valued at $1,595,043.20. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,666 shares of company stock worth $5,050,766. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. UBS Group lifted their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. DA Davidson restated a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Royal Bank of Canada boosted their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. boosted their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $239.17.

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.