Raymond James Financial Inc. Invests $104.47 Million in Broadridge Financial Solutions, Inc. (NYSE:BR)

Raymond James Financial Inc. bought a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 462,054 shares of the business services provider's stock, valued at approximately $104,466,000. Raymond James Financial Inc. owned approximately 0.39% of Broadridge Financial Solutions as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Broadridge Financial Solutions in the 3rd quarter valued at $44,746,000. Benjamin Edwards Inc. boosted its stake in shares of 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 purchasing an additional 140,886 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth about $25,773,000. BNP Paribas Financial Markets lifted its holdings in 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 purchasing an additional 98,275 shares during the last quarter. Finally, SVB Wealth LLC acquired a new position in Broadridge Financial Solutions in the fourth quarter valued at about $17,494,000. Institutional investors own 90.03% of the company's stock.

Insider Activity at Broadridge Financial Solutions

In related news, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction that occurred 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 $1,595,043.20. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy C. Gokey sold 95,956 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the sale, the chief executive officer now directly owns 169,788 shares of the company's stock, valued at $39,973,188.84. The trade was a 36.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 124,754 shares of company stock worth $29,397,793. 1.30% of the stock is owned by insiders.

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Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. UBS Group increased their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Wolfe Research reaffirmed a "peer perform" rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. StockNews.com raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Saturday. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $239.17.

Broadridge Financial Solutions Trading Down 0.7 %

NYSE:BR traded down $1.60 on Wednesday, hitting $224.73. 380,995 shares of the stock were exchanged, compared to its average volume of 472,884. The stock has a market capitalization of $26.30 billion, a price-to-earnings ratio of 35.17 and a beta of 1.05. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $246.58. The company's 50-day moving average price is $235.49 and its 200 day moving average price is $225.78.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping 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 quarter in the prior year, the business earned $0.92 earnings per share. On average, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be paid a dividend of $0.88 per share. The ex-dividend date is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.57%. Broadridge Financial Solutions's dividend payout ratio (DPR) 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.