Assetmark Inc. Raises Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Assetmark Inc. lifted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 1,615.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 11,440 shares of the business services provider's stock after acquiring an additional 10,773 shares during the period. Assetmark Inc.'s holdings in Broadridge Financial Solutions were worth $2,586,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alley Investment Management Company LLC grew its position in Broadridge Financial Solutions by 0.3% during the fourth quarter. Alley Investment Management Company LLC now owns 51,661 shares of the business services provider's stock valued at $11,680,000 after acquiring an additional 148 shares during the last quarter. Bahl & Gaynor Inc. grew its holdings in shares of Broadridge Financial Solutions by 2.7% during the 4th quarter. Bahl & Gaynor Inc. now owns 1,129,824 shares of the business services provider's stock valued at $255,442,000 after purchasing an additional 29,483 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Broadridge Financial Solutions by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 684,789 shares of the business services provider's stock worth $154,824,000 after purchasing an additional 23,376 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in Broadridge Financial Solutions by 10.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 14,178 shares of the business services provider's stock worth $3,205,000 after purchasing an additional 1,312 shares during the last quarter. Finally, Woodley Farra Manion Portfolio Management Inc. boosted its position in Broadridge Financial Solutions by 1.7% during the fourth quarter. Woodley Farra Manion Portfolio Management Inc. now owns 18,267 shares of the business services provider's stock valued at $4,146,000 after buying an additional 304 shares during the period. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

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Broadridge Financial Solutions Stock Performance

BR stock traded up $1.10 during midday trading on Thursday, reaching $225.33. 449,517 shares of the company's stock traded hands, compared to its average volume of 473,173. Broadridge Financial Solutions, Inc. has a 52-week low of $188.30 and a 52-week high of $246.58. The stock's 50-day moving average is $235.46 and its 200 day moving average is $225.77. The stock has a market cap of $26.37 billion, a P/E ratio of 35.26 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 (NYSE:BR - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 EPS 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 previous year, the company posted $0.92 EPS. As a group, analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.56%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions's payout ratio is currently 55.09%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BR shares. UBS Group boosted their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. DA Davidson restated a "neutral" rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. StockNews.com raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. JPMorgan Chase & Co. raised their price target on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada boosted 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. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $239.17.

Insider Buying and Selling 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 value of $22,590,921.08. Following the completion of the sale, the chief executive officer now owns 169,788 shares of the company's stock, valued at $39,973,188.84. This trade represents a 36.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Christopher John Perry sold 22,357 shares of Broadridge Financial Solutions stock in a transaction on Friday, March 7th. The stock was sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the sale, the president now owns 52,524 shares of the company's stock, valued at $12,355,220.52. The trade was a 29.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 124,754 shares of company stock valued at $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.