AssuredPartners Investment Advisors LLC Takes Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

AssuredPartners Investment Advisors LLC bought a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,056 shares of the business services provider's stock, valued at approximately $465,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. True Wealth Design LLC lifted its holdings in Broadridge Financial Solutions by 2,028.6% in the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider's stock worth $32,000 after purchasing an additional 142 shares during the last quarter. Fortitude Family Office LLC raised its stake in shares of Broadridge Financial Solutions by 246.7% in the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider's stock valued at $35,000 after buying an additional 111 shares in the last quarter. FSA Wealth Management LLC acquired a new position in shares of Broadridge Financial Solutions in the 3rd quarter worth approximately $39,000. Global X Japan Co. Ltd. bought a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at $41,000. Finally, Truvestments Capital LLC acquired a new position in Broadridge Financial Solutions in the third quarter valued at about $45,000. Hedge funds and other institutional investors own 90.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on BR shares. UBS Group upped their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Royal Bank of Canada increased their price objective 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. JPMorgan Chase & Co. increased their price target 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. Wolfe Research reiterated a "peer perform" rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Finally, Morgan Stanley upped their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Broadridge Financial Solutions currently has an average rating of "Hold" and an average target price of $241.00.

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Broadridge Financial Solutions Stock Performance

Shares of NYSE BR traded up $1.43 during midday trading on Tuesday, reaching $243.89. The company's stock had a trading volume of 128,815 shares, compared to its average volume of 509,314. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $246.58. The stock has a market capitalization of $28.54 billion, a P/E ratio of 38.14 and a beta of 1.05. The firm has a 50 day moving average price of $237.21 and a 200-day moving average price of $228.00. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the business earned $0.92 earnings per share. As a group, equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions's dividend payout ratio (DPR) is currently 55.09%.

Insider Buying and Selling

In other news, VP Laura Matlin sold 514 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the transaction, the vice president now owns 6,602 shares in the company, valued at $1,595,043.20. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 169,788 shares of the company's stock, valued at approximately $39,973,188.84. The trade was a 36.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,754 shares of company stock worth $29,397,793 in the last quarter. 1.30% of the stock is owned by insiders.

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.