Northstar Asset Management Inc. Makes New $2.75 Million Investment in Broadridge Financial Solutions, Inc. (NYSE:BR)

Northstar Asset Management Inc. acquired a new position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,165 shares of the business services provider's stock, valued at approximately $2,750,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Truist Financial Corp increased its stake in shares of Broadridge Financial Solutions by 33.8% during the 4th quarter. Truist Financial Corp now owns 72,224 shares of the business services provider's stock worth $16,329,000 after purchasing an additional 18,225 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Broadridge Financial Solutions by 4.5% in the fourth quarter. CIBC Asset Management Inc now owns 18,028 shares of the business services provider's stock worth $4,076,000 after purchasing an additional 784 shares in the last quarter. NTV Asset Management LLC bought a new stake in Broadridge Financial Solutions in the fourth quarter worth $203,000. Sanctuary Advisors LLC increased its position in Broadridge Financial Solutions by 2.6% during the fourth quarter. Sanctuary Advisors LLC now owns 18,577 shares of the business services provider's stock worth $4,442,000 after buying an additional 479 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC bought a new position in Broadridge Financial Solutions during the fourth quarter valued at about $353,000. Institutional investors own 90.03% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on BR shares. UBS Group upped their price target on 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 upped their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. Wolfe Research reissued a "peer perform" rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. DA Davidson restated a "neutral" rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. 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. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $239.17.

Broadridge Financial Solutions Stock Performance

Shares of BR stock traded down $1.00 during trading hours on Friday, reaching $235.31. 363,116 shares of the company's stock were exchanged, compared to its average volume of 461,865. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $244.47. 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 stock has a market capitalization of $27.54 billion, a P/E ratio of 36.82 and a beta of 1.08. The business has a fifty day moving average price of $232.79 and a 200-day moving average price of $223.36.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating 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 quarter in the previous year, the company posted $0.92 earnings per share. Analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

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 paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions's payout ratio is presently 55.09%.

Insider Buying and Selling

In related news, Director Brett Keller sold 5,442 shares of the firm's stock in a transaction on 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 directly owns 15,536 shares of the company's stock, valued at $3,734,854.40. This trade represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the sale, the vice president now directly owns 6,602 shares in the company, valued at $1,595,043.20. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,666 shares of company stock valued at $5,050,766 over the last three months. 1.30% of the stock is owned by corporate 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.