Northstar Asset Management Inc. Invests $2.75 Million in Broadridge Financial Solutions, Inc. (NYSE:BR)

Northstar Asset Management Inc. purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 12,165 shares of the business services provider’s stock, valued at approximately $2,750,000.

Other hedge funds have also added to or reduced their stakes in the company. Truist Financial Corp boosted its position in Broadridge Financial Solutions by 33.8% in the fourth quarter. Truist Financial Corp now owns 72,224 shares of the business services provider’s stock worth $16,329,000 after purchasing an additional 18,225 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Broadridge Financial Solutions by 4.5% during the fourth quarter. CIBC Asset Management Inc now owns 18,028 shares of the business services provider’s stock valued at $4,076,000 after purchasing an additional 784 shares during the last quarter. NTV Asset Management LLC purchased a new position in Broadridge Financial Solutions in the 4th quarter valued at approximately $203,000. Sanctuary Advisors LLC raised its holdings in Broadridge Financial Solutions by 2.6% during the 4th quarter. Sanctuary Advisors LLC now owns 18,577 shares of the business services provider’s stock valued at $4,442,000 after acquiring an additional 479 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC purchased a new position in Broadridge Financial Solutions during the 4th quarter valued at about $353,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Down 1.0 %

Shares of Broadridge Financial Solutions stock opened at $240.40 on Tuesday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.39. The stock has a market cap of $28.13 billion, a price-to-earnings ratio of 37.62 and a beta of 1.08. The firm’s 50-day moving average is $232.63 and its two-hundred day moving average is $222.81. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $244.47.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter last year, the firm earned $0.92 EPS. As a group, research analysts expect 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 announced 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. This represents a $3.52 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. DA Davidson reiterated a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. UBS Group upped their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley upped their price objective 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. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $239.17.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of the business’s stock in a transaction dated 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 approximately $1,595,043.20. The trade was a 7.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brett Keller sold 5,442 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total value of $1,308,256.80. Following the transaction, the director now owns 15,536 shares in the company, valued at approximately $3,734,854.40. This trade represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,666 shares of company stock worth $5,050,766 in the last ninety days. 1.30% of the stock is owned by insiders.

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.