Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Bought by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 124.2% during the fourth quarter, Holdings Channel reports. The firm owned 3,534 shares of the business services provider’s stock after acquiring an additional 1,958 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Broadridge Financial Solutions were worth $730,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Stifel Financial Corp grew its position in Broadridge Financial Solutions by 1,700.7% during the 3rd quarter. Stifel Financial Corp now owns 1,542,507 shares of the business services provider’s stock worth $276,194,000 after purchasing an additional 1,456,847 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Broadridge Financial Solutions by 124.8% during the third quarter. Envestnet Asset Management Inc. now owns 687,830 shares of the business services provider’s stock worth $123,156,000 after buying an additional 381,882 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Broadridge Financial Solutions during the fourth quarter worth about $227,750,000. Assenagon Asset Management S.A. increased its position in Broadridge Financial Solutions by 1,865.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 93,363 shares of the business services provider’s stock valued at $19,209,000 after acquiring an additional 88,613 shares during the period. Finally, HighTower Advisors LLC raised its stake in Broadridge Financial Solutions by 307.8% during the 3rd quarter. HighTower Advisors LLC now owns 110,691 shares of the business services provider’s stock valued at $19,833,000 after acquiring an additional 83,546 shares during the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 12,731 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the sale, the vice president now directly owns 13,303 shares in the company, valued at $2,674,169.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 12,731 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the completion of the transaction, the vice president now owns 13,303 shares in the company, valued at $2,674,169.06. 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 the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $201.58, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 48,483 shares of company stock valued at $9,745,637 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on BR. Royal Bank of Canada lifted their target price on Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday. Evercore ISI restated an “outperform” rating and set a $230.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Raymond James lifted their target price on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, DA Davidson reissued a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $206.67.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $198.95 on Friday. 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 $144.54 and a fifty-two week high of $210.24. The firm’s fifty day simple moving average is $200.32 and its 200-day simple moving average is $194.93. The stock has a market cap of $23.43 billion, a PE ratio of 34.66 and a beta of 0.98.

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, topping the consensus estimate of $0.89 by $0.03. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the business posted $0.91 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio is currently 55.75%.

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.