Sequoia Financial Advisors LLC bought a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) in the fourth quarter, HoldingsChannel reports. The fund bought 1,052 shares of the business services provider’s stock, valued at approximately $238,000.
Several other hedge funds have also modified their holdings of the stock. HighTower Advisors LLC increased its stake in Broadridge Financial Solutions by 1.6% during the 4th quarter. HighTower Advisors LLC now owns 121,742 shares of the business services provider’s stock worth $27,525,000 after buying an additional 1,881 shares during the period. AGF Management Ltd. acquired a new position in shares of Broadridge Financial Solutions in the fourth quarter worth about $2,513,000. Avantax Planning Partners Inc. boosted its holdings in Broadridge Financial Solutions by 20.9% in the fourth quarter. Avantax Planning Partners Inc. now owns 1,155 shares of the business services provider’s stock valued at $261,000 after purchasing an additional 200 shares during the last quarter. Cushing Capital Partners LLC acquired a new stake in Broadridge Financial Solutions during the 4th quarter valued at approximately $1,001,000. Finally, Citizens Financial Group Inc. RI raised its position in shares of Broadridge Financial Solutions by 11.4% in the 4th quarter. Citizens Financial Group Inc. RI now owns 2,654 shares of the business services provider’s stock valued at $600,000 after purchasing an additional 272 shares in the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on BR. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. JPMorgan Chase & Co. upped their target price on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Royal Bank of Canada lifted their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. DA Davidson reaffirmed a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Finally, 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 report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $239.17.
Check Out Our Latest Research Report on Broadridge Financial Solutions
Insider Activity at Broadridge Financial Solutions
In other news, CEO Timothy C. Gokey sold 95,956 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the transaction, the chief executive officer now directly owns 169,788 shares of the company’s stock, valued at approximately $39,973,188.84. This trade represents a 36.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert N. Duelks sold 485 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $237.93, for a total transaction of $115,396.05. Following the completion of the sale, the director now directly owns 4,960 shares of the company’s stock, valued at $1,180,132.80. The trade was a 8.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 124,754 shares of company stock worth $29,397,793 in the last ninety days. 1.30% of the stock is owned by insiders.
Broadridge Financial Solutions Stock Performance
Shares of BR stock opened at $233.90 on Friday. The company has a market cap of $27.37 billion, a P/E ratio of 36.60 and a beta of 1.05. The business has a 50 day moving average of $235.82 and a two-hundred day moving average of $226.48. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $246.58. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.
Broadridge Financial Solutions (NYSE:BR – Get Free Report) last released its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same quarter last year, the company posted $0.92 earnings per share. As a group, analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.
Broadridge Financial Solutions Announces Dividend
The company 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 dividend yield of 1.50%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.
About Broadridge Financial Solutions
(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.
See Also
Want to see what other hedge funds are holding BR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report).
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