Pinnacle Wealth Management Advisory Group LLC Invests $353,000 in Broadridge Financial Solutions, Inc. (NYSE:BR)

Pinnacle Wealth Management Advisory Group LLC bought a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,561 shares of the business services provider's stock, valued at approximately $353,000.

Several other hedge funds also recently made changes to their positions in BR. State Street Corp increased its stake in Broadridge Financial Solutions by 1.0% in the third quarter. State Street Corp now owns 5,181,715 shares of the business services provider's stock valued at $1,118,644,000 after acquiring an additional 51,439 shares during the last quarter. Geode Capital Management LLC increased its stake in Broadridge Financial Solutions by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider's stock valued at $643,018,000 after acquiring an additional 15,208 shares during the last quarter. Stifel Financial Corp increased its stake in Broadridge Financial Solutions by 0.4% in the third quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider's stock valued at $342,856,000 after acquiring an additional 5,813 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Broadridge Financial Solutions by 2.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider's stock worth $194,585,000 after buying an additional 20,775 shares during the last quarter. Finally, abrdn plc grew its stake in shares of Broadridge Financial Solutions by 5.5% during the third quarter. abrdn plc now owns 536,083 shares of the business services provider's stock worth $114,451,000 after buying an additional 27,869 shares during the last quarter. 90.03% of the stock is owned by institutional investors.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the sale, the vice president now directly owns 6,602 shares of the company's stock, valued at approximately $1,595,043.20. The trade was a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Thomas P. Carey sold 15,710 shares of Broadridge Financial Solutions stock in a transaction 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 completion of the sale, the vice president now directly owns 12,146 shares of the company's stock, 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. Insiders have sold a total of 21,666 shares of company stock worth $5,050,766 over the last quarter. Company insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Trading Down 1.2 %

Shares of NYSE:BR traded down $2.80 during mid-day trading on Thursday, reaching $236.14. 438,837 shares of the company's stock were exchanged, compared to its average volume of 464,859. The firm has a market capitalization of $27.63 billion, a price-to-earnings ratio of 36.95 and a beta of 1.08. The business's fifty day moving average price is $232.75 and its 200-day moving average price is $223.18. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $244.47.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same quarter last year, the firm earned $0.92 EPS. On average, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced 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 of this dividend is Thursday, March 13th. This represents a $3.52 annualized dividend and a yield of 1.49%. Broadridge Financial Solutions's payout ratio is 55.09%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. StockNews.com raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Morgan Stanley boosted their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an "equal weight" rating in a research note on Monday, February 3rd. Royal Bank of Canada boosted their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Finally, Wolfe Research reaffirmed a "peer perform" rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $239.17.

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.