Salem Investment Counselors Inc. boosted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) by 200.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 225 shares of the business services provider’s stock after purchasing an additional 150 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Broadridge Financial Solutions were worth $51,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the stock. Fragasso Financial Advisors Inc purchased a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at approximately $208,000. Eagle Bay Advisors LLC increased its stake in Broadridge Financial Solutions by 20.4% during the fourth quarter. Eagle Bay Advisors LLC now owns 1,992 shares of the business services provider’s stock worth $452,000 after acquiring an additional 338 shares during the last quarter. Aprio Wealth Management LLC purchased a new stake in Broadridge Financial Solutions in the fourth quarter valued at $236,000. Czech National Bank raised its stake in shares of Broadridge Financial Solutions by 6.6% in the 4th quarter. Czech National Bank now owns 25,344 shares of the business services provider’s stock valued at $5,730,000 after acquiring an additional 1,570 shares during the period. Finally, West Oak Capital LLC lifted its holdings in shares of Broadridge Financial Solutions by 60.4% in the 4th quarter. West Oak Capital LLC now owns 802 shares of the business services provider’s stock worth $181,000 after acquiring an additional 302 shares during the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 24,185 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $220.21, for a total value of $5,325,778.85. Following the completion of the sale, the insider now owns 27,137 shares in the company, valued at $5,975,838.77. The trade was a 47.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas P. Carey sold 15,710 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,532 shares of company stock worth $12,264,846. 1.30% of the stock is owned by corporate insiders.
Broadridge Financial Solutions Stock Performance
NYSE:BR opened at $227.07 on Wednesday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $26.54 billion, a P/E ratio of 39.29 and a beta of 1.08. The firm has a 50-day moving average price of $228.78 and a two-hundred day moving average price of $217.15. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $237.96.
Broadridge Financial Solutions (NYSE:BR – Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the company posted $1.09 EPS. The company’s revenue was down .6% on a year-over-year basis. As a group, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current fiscal year.
Broadridge Financial Solutions Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Friday, December 13th. Broadridge Financial Solutions’s payout ratio is currently 60.90%.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on BR. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. DA Davidson upped their price target on shares of Broadridge Financial Solutions from $210.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. UBS Group began coverage on shares of Broadridge Financial Solutions in a research note on Thursday, November 21st. They set a “neutral” rating and a $250.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Finally, Morgan Stanley lifted their price objective on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $226.71.
Check Out Our Latest Stock Analysis on Broadridge Financial Solutions
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.
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