Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Raymond James & Associates

Raymond James & Associates reduced its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BRFree Report) by 0.5% during the 4th quarter, HoldingsChannel reports. The firm owned 399,137 shares of the business services provider’s stock after selling 1,856 shares during the quarter. Raymond James & Associates’ holdings in Broadridge Financial Solutions were worth $82,122,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Broadridge Financial Solutions by 0.6% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 11,633 shares of the business services provider’s stock worth $2,083,000 after purchasing an additional 69 shares during the last quarter. Lantz Financial LLC lifted its holdings in Broadridge Financial Solutions by 0.7% in the fourth quarter. Lantz Financial LLC now owns 10,933 shares of the business services provider’s stock valued at $2,249,000 after acquiring an additional 73 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its position in Broadridge Financial Solutions by 4.3% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,974 shares of the business services provider’s stock worth $353,000 after acquiring an additional 82 shares during the period. Teamwork Financial Advisors LLC grew its position in Broadridge Financial Solutions by 2.3% in the third quarter. Teamwork Financial Advisors LLC now owns 4,027 shares of the business services provider’s stock worth $721,000 after acquiring an additional 90 shares during the period. Finally, Atria Wealth Solutions Inc. grew its position in Broadridge Financial Solutions by 6.1% in the third quarter. Atria Wealth Solutions Inc. now owns 1,576 shares of the business services provider’s stock worth $283,000 after acquiring an additional 91 shares during the period. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Robert N. Duelks sold 830 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $201.58, for a total value of $167,311.40. Following the sale, the director now directly owns 5,445 shares in the company, valued at $1,097,603.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 830 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $201.58, for a total value of $167,311.40. Following the sale, the director now directly owns 5,445 shares in the company, valued at $1,097,603.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Christopher John Perry sold 5,069 shares of the firm’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $205.32, for a total value of $1,040,767.08. Following the completion of the sale, the president now owns 59,651 shares in the company, valued at $12,247,543.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,552 shares of company stock worth $10,786,404. Corporate insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Trading Down 0.3 %

BR opened at $201.71 on Wednesday. Broadridge Financial Solutions, Inc. has a 52 week low of $139.35 and a 52 week high of $210.24. The business has a fifty day simple moving average of $201.86 and a 200-day simple moving average of $192.11. The firm has a market cap of $23.76 billion, a P/E ratio of 35.14 and a beta of 0.99. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.77.

Broadridge Financial Solutions (NYSE:BRGet Free Report) last released its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.40 billion. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the business posted $0.91 earnings per share. On average, equities analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Thursday, March 14th. Broadridge Financial Solutions’s payout ratio is currently 55.75%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Royal Bank of Canada increased their price objective on Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Morgan Stanley increased their price objective on Broadridge Financial Solutions from $175.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, December 8th. Raymond James increased their price objective on Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Finally, Evercore ISI restated an “outperform” rating and set a $230.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $203.17.

Get Our Latest Research Report on BR

Broadridge Financial Solutions Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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