Commonwealth Equity Services LLC Buys 758 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Commonwealth Equity Services LLC lifted its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,877 shares of the business services provider’s stock after purchasing an additional 758 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Broadridge Financial Solutions were worth $6,529,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. True Wealth Design LLC boosted its position in shares of Broadridge Financial Solutions by 2,028.6% in the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after purchasing an additional 142 shares in the last quarter. Fortitude Family Office LLC lifted its position in Broadridge Financial Solutions by 246.7% in the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 111 shares in the last quarter. Global X Japan Co. Ltd. bought a new position in Broadridge Financial Solutions in the 4th quarter valued at approximately $41,000. FSA Wealth Management LLC bought a new position in Broadridge Financial Solutions in the 3rd quarter valued at approximately $39,000. Finally, Truvestments Capital LLC bought a new position in Broadridge Financial Solutions in the 3rd quarter valued at approximately $45,000. 90.03% of the stock is owned by institutional investors.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the sale, the vice president now owns 6,602 shares in the company, valued at approximately $1,595,043.20. This represents a 7.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $235.43, for a total value of $22,590,921.08. Following the completion of the sale, the chief executive officer now 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. Insiders sold 124,754 shares of company stock worth $29,397,793 in the last three months. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of BR opened at $233.03 on Friday. The firm has a market cap of $27.27 billion, a PE ratio of 36.47 and a beta of 1.05. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The firm has a fifty day simple moving average of $236.05 and a two-hundred day simple moving average of $226.62. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $246.58.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, topping the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period last year, the business posted $0.92 earnings per share. On average, equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS 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. Stockholders of record on Thursday, March 13th will be paid a $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.51%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 55.09%.

Analysts Set New Price Targets

Several research firms recently issued reports on BR. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. DA Davidson reaffirmed a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Morgan Stanley boosted 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. Finally, Royal Bank of Canada boosted their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Five research 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, Broadridge Financial Solutions presently has a consensus rating of “Hold” and a consensus target price of $239.17.

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.