HighTower Advisors LLC Has $27.53 Million Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

HighTower Advisors LLC lifted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,742 shares of the business services provider's stock after acquiring an additional 1,881 shares during the quarter. HighTower Advisors LLC owned 0.10% of Broadridge Financial Solutions worth $27,525,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Assetmark Inc. boosted its position in shares of Broadridge Financial Solutions by 130.0% in the third quarter. Assetmark Inc. now owns 667 shares of the business services provider's stock worth $143,000 after buying an additional 377 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Broadridge Financial Solutions in the third quarter worth $529,000. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Broadridge Financial Solutions by 1.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 265,440 shares of the business services provider's stock worth $57,078,000 after buying an additional 2,715 shares during the period. Ashton Thomas Private Wealth LLC boosted its position in shares of Broadridge Financial Solutions by 13.6% in the third quarter. Ashton Thomas Private Wealth LLC now owns 3,091 shares of the business services provider's stock worth $665,000 after buying an additional 371 shares during the period. Finally, Prime Capital Investment Advisors LLC acquired a new stake in shares of Broadridge Financial Solutions in the third quarter worth $210,000. 90.03% of the stock is owned by institutional investors.

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Insider Transactions at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions 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 sale, the chief executive officer now directly owns 169,788 shares of the company's stock, valued at $39,973,188.84. This trade represents a 36.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 124,754 shares of company stock worth $29,397,793. Company insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wolfe Research reissued a "peer perform" rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. DA Davidson reissued a "neutral" rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Royal Bank of Canada lifted their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Morgan Stanley lifted their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Broadridge Financial Solutions presently has a consensus rating of "Hold" and an average price target of $239.17.

Broadridge Financial Solutions Stock Up 1.8 %

NYSE BR traded up $4.17 during trading on Wednesday, hitting $235.40. 518,734 shares of the company traded hands, compared to its average volume of 472,434. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $246.58. The business has a fifty day simple moving average of $235.61 and a 200 day simple moving average of $226.37. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $27.55 billion, a P/E ratio of 36.84 and a beta of 1.05.

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 EPS for the quarter, topping analysts' consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period last year, the firm earned $0.92 EPS. As a group, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be paid a $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.50%. Broadridge Financial Solutions's payout ratio is presently 55.09%.

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.