Envestnet Asset Management Inc. Acquires 81,737 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Envestnet Asset Management Inc. raised its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 12.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 714,545 shares of the business services provider's stock after buying an additional 81,737 shares during the period. Envestnet Asset Management Inc. owned 0.61% of Broadridge Financial Solutions worth $161,552,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BR. Adero Partners LLC grew its stake in shares of Broadridge Financial Solutions by 2.5% in the fourth quarter. Adero Partners LLC now owns 1,837 shares of the business services provider's stock valued at $415,000 after buying an additional 45 shares in the last quarter. Sunburst Financial Group LLC lifted its stake in Broadridge Financial Solutions by 4.8% in the fourth quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider's stock valued at $229,000 after acquiring an additional 46 shares during the last quarter. Nicolet Advisory Services LLC grew its position in shares of Broadridge Financial Solutions by 4.8% in the 4th quarter. Nicolet Advisory Services LLC now owns 1,010 shares of the business services provider's stock valued at $224,000 after acquiring an additional 46 shares during the period. Foundations Investment Advisors LLC increased its stake in shares of Broadridge Financial Solutions by 3.5% during the 4th quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider's stock worth $345,000 after purchasing an additional 52 shares during the last quarter. Finally, TCTC Holdings LLC raised its holdings in shares of Broadridge Financial Solutions by 0.9% in the 4th quarter. TCTC Holdings LLC now owns 5,979 shares of the business services provider's stock valued at $1,352,000 after purchasing an additional 52 shares during the period. 90.03% of the stock is owned by institutional investors.

Remove Ads

Broadridge Financial Solutions Stock Performance

BR traded up $3.18 during trading on Friday, hitting $231.56. The stock had a trading volume of 574,975 shares, compared to its average volume of 522,195. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The company has a 50 day moving average price of $235.60 and a 200-day moving average price of $229.42. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $247.01. The firm has a market cap of $27.10 billion, a price-to-earnings ratio of 36.24 and a beta of 1.06.

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

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th were given 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 dividend yield of 1.52%. Broadridge Financial Solutions's payout ratio is 55.09%.

Insider Activity at Broadridge Financial Solutions

In related news, Director Brett Keller sold 5,442 shares of the business's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $240.40, for a total value of $1,308,256.80. Following the completion of the transaction, the director now owns 15,536 shares of the company's stock, valued at $3,734,854.40. The trade was a 25.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Christopher John Perry sold 22,357 shares of the stock in a transaction dated 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 in the company, 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. Over the last ninety days, insiders sold 124,754 shares of company stock worth $29,397,793. Company insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on BR. Royal Bank of Canada lifted their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" 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 note on Thursday. Morgan Stanley increased their price target on 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. UBS Group lifted their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Finally, DA Davidson reiterated a "neutral" rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, Broadridge Financial Solutions has an average rating of "Hold" and an average price target of $241.00.

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.