Bestgate Wealth Advisors LLC Takes $255,000 Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Bestgate Wealth Advisors LLC bought a new position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 1,127 shares of the business services provider's stock, valued at approximately $255,000.

A number of other large investors have also recently made changes to their positions in the company. Xponance Inc. boosted its position in Broadridge Financial Solutions by 3.1% in the 4th quarter. Xponance Inc. now owns 26,254 shares of the business services provider's stock valued at $5,936,000 after buying an additional 779 shares during the period. Generali Asset Management SPA SGR purchased a new stake in Broadridge Financial Solutions in the 4th quarter valued at about $3,244,000. PDS Planning Inc purchased a new stake in Broadridge Financial Solutions in the 4th quarter valued at about $218,000. Kensington Investment Counsel LLC boosted its position in Broadridge Financial Solutions by 39.5% in the 4th quarter. Kensington Investment Counsel LLC now owns 18,265 shares of the business services provider's stock valued at $4,130,000 after buying an additional 5,169 shares during the period. Finally, Mystic Asset Management Inc. boosted its position in Broadridge Financial Solutions by 12.7% in the 4th quarter. Mystic Asset Management Inc. now owns 1,780 shares of the business services provider's stock valued at $402,000 after buying an additional 200 shares during the period. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, VP Laura Matlin sold 514 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the completion of the sale, the vice president now directly owns 6,602 shares in the company, valued at approximately $1,595,043.20. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brett Keller sold 5,442 shares of the firm's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the sale, the director now owns 15,536 shares of the company's stock, valued at approximately $3,734,854.40. The trade was a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 124,754 shares of company stock valued at $29,397,793 over the last ninety days. Corporate insiders own 1.30% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Morgan Stanley boosted 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 report on Monday, February 3rd. DA Davidson reiterated a "neutral" rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Royal Bank of Canada boosted 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. StockNews.com upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Finally, Wolfe Research reiterated a "peer perform" rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Five investment 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 has a consensus rating of "Hold" and a consensus price target of $239.17.

Broadridge Financial Solutions Stock Performance

Shares of BR stock traded down $0.78 during trading hours on Friday, hitting $233.03. The company's stock had a trading volume of 1,115,387 shares, compared to its average volume of 475,808. The company has a 50 day moving average of $236.05 and a 200 day moving average of $226.73. The stock has a market cap of $27.27 billion, a PE ratio of 36.47 and a beta of 1.05. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $246.58.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (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 in the prior year, the firm earned $0.92 EPS. On average, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.51%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions's payout ratio is 55.09%.

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.