LPL Financial LLC Increases Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

LPL Financial LLC grew its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 279,536 shares of the business services provider’s stock after acquiring an additional 9,056 shares during the period. LPL Financial LLC owned 0.24% of Broadridge Financial Solutions worth $63,200,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. True Wealth Design LLC grew its stake in shares of Broadridge Financial Solutions by 2,028.6% during the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 142 shares during the period. Fortitude Family Office LLC lifted its holdings in Broadridge Financial Solutions by 246.7% during 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 in the last quarter. Global X Japan Co. Ltd. bought a new position in shares of Broadridge Financial Solutions in the fourth quarter worth approximately $41,000. FSA Wealth Management LLC purchased a new stake in shares of Broadridge Financial Solutions in the third quarter worth $39,000. Finally, Curio Wealth LLC bought a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $238.29 on Thursday. The company has a market cap of $27.88 billion, a price-to-earnings ratio of 37.29 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $246.58. The stock’s 50 day simple moving average is $236.66 and its two-hundred day simple moving average is $227.30. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same period in the previous year, the firm earned $0.92 EPS. As a group, equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.88 per share. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a yield of 1.48%. Broadridge Financial Solutions’s payout ratio is currently 55.09%.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 485 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $237.93, for a total transaction of $115,396.05. Following the transaction, the director now owns 4,960 shares in the company, valued at $1,180,132.80. The trade was a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Timothy C. Gokey sold 95,956 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the sale, the chief executive officer now owns 169,788 shares of the company’s stock, valued at $39,973,188.84. This trade represents a 36.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 124,754 shares of company stock worth $29,397,793 over the last ninety days. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BR. DA Davidson reiterated a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. JPMorgan Chase & Co. increased their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. UBS Group boosted their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Finally, Morgan Stanley boosted their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $241.00.

Broadridge Financial Solutions 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.