Tyche Wealth Partners LLC Invests $781,000 in Broadridge Financial Solutions, Inc. (NYSE:BR)

Tyche Wealth Partners LLC bought a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 3,453 shares of the business services provider's stock, valued at approximately $781,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Tectonic Advisors LLC lifted its holdings in Broadridge Financial Solutions by 5.3% in the fourth quarter. Tectonic Advisors LLC now owns 1,939 shares of the business services provider's stock valued at $438,000 after buying an additional 98 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Broadridge Financial Solutions by 20.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,105 shares of the business services provider's stock worth $4,091,000 after acquiring an additional 3,120 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in shares of Broadridge Financial Solutions by 2.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 18,308 shares of the business services provider's stock valued at $4,139,000 after purchasing an additional 413 shares during the period. Avitas Wealth Management LLC boosted its position in shares of Broadridge Financial Solutions by 1.4% during the 4th quarter. Avitas Wealth Management LLC now owns 5,322 shares of the business services provider's stock valued at $1,203,000 after purchasing an additional 72 shares in the last quarter. Finally, E. Ohman J or Asset Management AB grew its stake in Broadridge Financial Solutions by 6.9% during the fourth quarter. E. Ohman J or Asset Management AB now owns 5,450 shares of the business services provider's stock worth $1,232,000 after purchasing an additional 350 shares during the period. Institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Stock Up 0.1 %

Shares of BR stock traded up $0.26 during trading hours on Friday, reaching $240.29. The company had a trading volume of 321,250 shares, compared to its average volume of 442,394. The company has a market cap of $28.12 billion, a price-to-earnings ratio of 37.60 and a beta of 1.08. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.39. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $242.39. The business has a fifty day simple moving average of $231.71 and a 200-day simple moving average of $221.46.

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, topping 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 period last year, the business posted $0.92 earnings per share. On average, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced 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 1.46%. Broadridge Financial Solutions's payout ratio is presently 55.09%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BR. UBS Group increased their price target 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 restated a "peer perform" rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Royal Bank of Canada upped their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. raised their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Finally, DA Davidson reiterated a "neutral" rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $239.17.

Insider Activity

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of the business's stock in a transaction dated 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 directly owns 6,602 shares in the company, valued at $1,595,043.20. The trade was a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brett Keller sold 5,442 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the transaction, the director now directly owns 15,536 shares of the company's stock, valued at $3,734,854.40. This represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,303 shares of company stock valued at $8,371,507 over the last three months. Corporate insiders own 1.30% of the company's stock.

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.