Legacy Capital Wealth Partners LLC Sells 3,857 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Legacy Capital Wealth Partners LLC lessened its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 54.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,250 shares of the business services provider's stock after selling 3,857 shares during the quarter. Legacy Capital Wealth Partners LLC's holdings in Broadridge Financial Solutions were worth $735,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Congress Asset Management Co. raised its holdings in Broadridge Financial Solutions by 1.9% in the 4th quarter. Congress Asset Management Co. now owns 83,799 shares of the business services provider's stock worth $18,946,000 after purchasing an additional 1,579 shares in the last quarter. Lord & Richards Wealth Management LLC bought a new position in Broadridge Financial Solutions in the fourth quarter worth about $539,000. Sunburst Financial Group LLC lifted its holdings 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 worth $229,000 after buying an additional 46 shares during the period. MGB Wealth Management LLC boosted its position in Broadridge Financial Solutions by 3.1% during the 4th quarter. MGB Wealth Management LLC now owns 3,770 shares of the business services provider's stock valued at $852,000 after acquiring an additional 115 shares in the last quarter. Finally, One Plus One Wealth Management LLC raised its position in shares of Broadridge Financial Solutions by 32.2% in the 4th quarter. One Plus One Wealth Management LLC now owns 1,624 shares of the business services provider's stock worth $367,000 after acquiring an additional 396 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BR. DA Davidson restated a "neutral" rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. StockNews.com downgraded shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, November 9th. UBS Group increased their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. 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. Finally, Morgan Stanley raised their target price on shares of 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. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $239.17.

Insider Buying and Selling

In other news, VP Laura Matlin sold 514 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the transaction, the vice president now owns 6,602 shares in the company, valued at $1,595,043.20. This represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas P. Carey sold 15,710 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the sale, the vice president now owns 12,146 shares of the company's stock, valued at $2,797,466.72. This trade represents a 56.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,666 shares of company stock worth $5,050,766. 1.30% of the stock is owned by insiders.

Broadridge Financial Solutions Stock Down 0.1 %

Shares of Broadridge Financial Solutions stock traded down $0.34 on Wednesday, reaching $238.82. The company's stock had a trading volume of 595,494 shares, compared to its average volume of 465,675. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $244.47. The firm's fifty day simple moving average is $232.75 and its two-hundred day simple moving average is $223.09. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $27.95 billion, a price-to-earnings ratio of 37.37 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings data 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 return on equity of 44.40% and a net margin of 11.36%. During the same period in the prior year, the business posted $0.92 earnings per share. Equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions's dividend payout ratio is currently 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.