Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC grew its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 40.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,289 shares of the business services provider’s stock after purchasing an additional 2,395 shares during the quarter. Cerity Partners LLC’s holdings in Broadridge Financial Solutions were worth $1,706,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. OFI Invest Asset Management purchased a new position in shares of Broadridge Financial Solutions in the 3rd quarter valued at $25,000. Money Concepts Capital Corp grew its position in shares of Broadridge Financial Solutions by 400.0% in the 4th quarter. Money Concepts Capital Corp now owns 195 shares of the business services provider’s stock valued at $26,000 after buying an additional 156 shares during the last quarter. Resurgent Financial Advisors LLC purchased a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at $27,000. Headinvest LLC purchased a new position in shares of Broadridge Financial Solutions in the 3rd quarter valued at $32,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of Broadridge Financial Solutions in the 3rd quarter valued at $34,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Up 0.2 %

Shares of NYSE:BR opened at $193.38 on Friday. The company has a market cap of $22.77 billion, a price-to-earnings ratio of 33.69 and a beta of 0.99. The firm’s 50-day simple moving average is $200.73 and its 200-day simple moving average is $194.00. 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, Inc. has a fifty-two week low of $139.52 and a fifty-two week high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 earnings per share. As a group, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 55.75%.

Analyst Upgrades and Downgrades

BR has been the topic of a number of recent analyst reports. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. DA Davidson reissued a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. Raymond James raised their price objective on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Evercore ISI reissued an “outperform” rating and set a $230.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Finally, Royal Bank of Canada raised their price objective on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $206.67.

Insider Activity at Broadridge Financial Solutions

In related news, Director Robert N. Duelks sold 830 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $201.58, for a total value of $167,311.40. Following the completion of the sale, the director now owns 5,445 shares in the company, valued at $1,097,603.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 22,722 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the completion of the transaction, the insider now owns 44,680 shares in the company, valued at $8,891,320. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert N. Duelks sold 830 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $201.58, for a total transaction of $167,311.40. Following the transaction, the director now owns 5,445 shares of the company’s stock, valued at approximately $1,097,603.10. The disclosure for this sale can be found here. Insiders sold 48,483 shares of company stock worth $9,745,637 over the last 90 days. Company insiders own 1.60% of the company’s stock.

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.