B. Riley Wealth Advisors Inc. Decreases Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

B. Riley Wealth Advisors Inc. reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 17.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,161 shares of the business services provider’s stock after selling 456 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Broadridge Financial Solutions were worth $466,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BR. Bogart Wealth LLC increased its position in shares of Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after buying an additional 96 shares in the last quarter. EdgeRock Capital LLC purchased a new position in Broadridge Financial Solutions during the 2nd quarter valued at about $32,000. Rothschild Investment LLC purchased a new position in Broadridge Financial Solutions during the 2nd quarter valued at about $32,000. True Wealth Design LLC raised its position in Broadridge Financial Solutions by 2,028.6% during the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after acquiring an additional 142 shares during the last quarter. Finally, Family Firm Inc. purchased a new stake in shares of Broadridge Financial Solutions in the second quarter valued at about $37,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Up 0.5 %

BR opened at $224.18 on Friday. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $237.96. The business has a 50-day moving average of $225.24 and a two-hundred day moving average of $213.60. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. The stock has a market capitalization of $26.20 billion, a price-to-earnings ratio of 38.79 and a beta of 1.07.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. Broadridge Financial Solutions’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.09 earnings per share. On average, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 60.90%.

Insider Activity at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 10,757 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $226.82, for a total value of $2,439,902.74. Following the transaction, the vice president now owns 12,689 shares of the company’s stock, valued at approximately $2,878,118.98. This trade represents a 45.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Douglas Richard Deschutter sold 24,185 shares of Broadridge Financial Solutions stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the transaction, the insider now owns 27,137 shares in the company, valued at $5,975,838.77. The trade was a 47.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,532 shares of company stock worth $12,264,846. 1.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on BR shares. Morgan Stanley lifted their price objective on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. DA Davidson upped their price objective on Broadridge Financial Solutions from $210.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Finally, StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $226.71.

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.