Wealthspire Advisors LLC Purchases New Shares in Broadridge Financial Solutions, Inc. (NYSE:BR)

Wealthspire Advisors LLC bought a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 993 shares of the business services provider’s stock, valued at approximately $225,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Broadridge Financial Solutions in the 3rd quarter worth $44,746,000. Benjamin Edwards Inc. increased its position in shares of Broadridge Financial Solutions by 2,302.8% in the third quarter. Benjamin Edwards Inc. now owns 147,004 shares of the business services provider’s stock valued at $31,618,000 after acquiring an additional 140,886 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Broadridge Financial Solutions by 97.7% in the third quarter. BNP Paribas Financial Markets now owns 198,878 shares of the business services provider’s stock valued at $42,765,000 after acquiring an additional 98,275 shares during the last quarter. Worldquant Millennium Advisors LLC increased its position in Broadridge Financial Solutions by 113.8% during the third quarter. Worldquant Millennium Advisors LLC now owns 141,533 shares of the business services provider’s stock worth $30,434,000 after buying an additional 75,349 shares during the last quarter. Finally, State Street Corp increased its position in Broadridge Financial Solutions by 1.0% during the third quarter. State Street Corp now owns 5,181,715 shares of the business services provider’s stock worth $1,118,644,000 after buying an additional 51,439 shares during the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on BR. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Thursday. 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. Morgan Stanley boosted their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. UBS Group boosted 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. Finally, JPMorgan Chase & Co. upped 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. Six 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 company presently has an average rating of “Hold” and an average price target of $239.17.

Broadridge Financial Solutions Stock Up 0.3 %

NYSE BR opened at $237.17 on Friday. The business has a fifty day moving average price of $233.55 and a two-hundred day moving average price of $223.96. The stock has a market capitalization of $27.75 billion, a PE ratio of 37.12 and a beta of 1.08. 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, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $244.47.

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 (EPS) 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 quarter in the prior year, the firm earned $0.92 earnings per share. Equities 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be issued a $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.48%. 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 stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the completion of the sale, the vice president now directly owns 12,146 shares in the company, valued at approximately $2,797,466.72. This trade represents a 56.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Laura Matlin sold 514 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the sale, the vice president now owns 6,602 shares of the company’s stock, valued at approximately $1,595,043.20. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,666 shares of company stock worth $5,050,766 over the last three months. 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.