LPL Financial LLC Purchases 9,056 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

LPL Financial LLC increased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 279,536 shares of the business services provider's stock after acquiring an additional 9,056 shares during the quarter. LPL Financial LLC owned 0.24% of Broadridge Financial Solutions worth $63,200,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in Broadridge Financial Solutions during the 4th quarter valued at about $104,466,000. Corient Private Wealth LLC grew its position in Broadridge Financial Solutions by 882.9% during the fourth quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider's stock valued at $99,186,000 after purchasing an additional 392,695 shares in the last quarter. Benjamin Edwards Inc. increased its stake in Broadridge Financial Solutions by 2,302.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 147,004 shares of the business services provider's stock valued at $31,618,000 after buying an additional 140,886 shares during the period. Proficio Capital Partners LLC purchased a new stake in Broadridge Financial Solutions in the 4th quarter worth approximately $25,773,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Broadridge Financial Solutions by 97.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 198,878 shares of the business services provider's stock valued at $42,765,000 after buying an additional 98,275 shares during the period. Hedge funds and other institutional investors own 90.03% of the company's stock.

Remove Ads

Insider Buying and Selling

In related news, VP Laura Matlin sold 514 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the transaction, the vice president now owns 6,602 shares of the company's stock, valued at approximately $1,595,043.20. The trade was a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert N. Duelks sold 485 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $237.93, for a total transaction of $115,396.05. Following the completion of the sale, the director now directly owns 4,960 shares of the company's stock, valued at approximately $1,180,132.80. This trade represents a 8.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 124,754 shares of company stock valued at $29,397,793. Insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Stock Performance

BR stock traded up $5.15 during midday trading on Monday, hitting $242.66. 794,853 shares of the company traded hands, compared to its average volume of 510,763. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $246.58. The stock has a market capitalization of $28.40 billion, a price-to-earnings ratio of 37.98 and a beta of 1.05. 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 business has a 50 day simple moving average of $237.21 and a 200-day simple moving average of $228.00.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted 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 last year, the firm posted $0.92 EPS. As a group, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

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 of this dividend is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.45%. Broadridge Financial Solutions's payout ratio is presently 55.09%.

Analyst Ratings Changes

A number of research firms have recently weighed in on BR. DA Davidson reaffirmed a "neutral" rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. UBS Group upped their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Morgan Stanley lifted their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a report on Monday, February 3rd. Royal Bank of Canada raised 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $241.00.

About Broadridge Financial Solutions

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.