Abacus FCF Advisors LLC Acquires 5,580 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Abacus FCF Advisors LLC increased its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 45.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 17,741 shares of the business services provider's stock after buying an additional 5,580 shares during the period. Abacus FCF Advisors LLC's holdings in Broadridge Financial Solutions were worth $4,011,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of BR. Fortitude Family Office LLC raised its position in shares of Broadridge Financial Solutions by 246.7% during the fourth 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 during the last quarter. Global X Japan Co. Ltd. bought a new stake in Broadridge Financial Solutions in the 4th quarter valued at $41,000. Curio Wealth LLC bought a new stake in Broadridge Financial Solutions in the 4th quarter valued at $45,000. Salem Investment Counselors Inc. lifted its stake in Broadridge Financial Solutions by 200.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 225 shares of the business services provider's stock worth $51,000 after purchasing an additional 150 shares in the last quarter. Finally, Promus Capital LLC bought a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at about $52,000. Hedge funds and other institutional investors own 90.03% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. DA Davidson reiterated a "neutral" rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. JPMorgan Chase & Co. upped their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. StockNews.com downgraded Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research report on Thursday. Morgan Stanley boosted their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an "equal weight" rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada increased their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $241.00.

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Broadridge Financial Solutions Trading Up 1.4 %

Shares of NYSE BR traded up $3.18 during trading hours on Friday, hitting $231.56. 574,975 shares of the company traded hands, compared to its average volume of 522,195. The company's 50 day moving average price is $235.60 and its 200 day moving average price is $229.42. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $247.01. The stock has a market capitalization of $27.10 billion, a price-to-earnings ratio of 36.24 and a beta of 1.06. 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 (NYSE:BR - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating 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 previous year, the business earned $0.92 EPS. On average, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th were paid a $0.88 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.52%. Broadridge Financial Solutions's payout ratio is 55.09%.

Insider Transactions at Broadridge Financial Solutions

In related news, Director Robert N. Duelks sold 485 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $237.93, for a total value of $115,396.05. Following the transaction, the director now owns 4,960 shares of the company's stock, valued at $1,180,132.80. This represents a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction on Monday, March 10th. The shares were sold at an average price of $235.43, for a total value of $22,590,921.08. Following the sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,754 shares of company stock worth $29,397,793. 1.30% of the stock is currently owned by insiders.

Broadridge Financial Solutions Company 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.