Cerity Partners LLC Has $5.20 Million Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Cerity Partners LLC raised its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,458 shares of the business services provider’s stock after buying an additional 1,544 shares during the period. Cerity Partners LLC’s holdings in Broadridge Financial Solutions were worth $5,195,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its position in Broadridge Financial Solutions by 246.7% during the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after buying an additional 111 shares in the last quarter. Global X Japan Co. Ltd. acquired a new position in shares of Broadridge Financial Solutions during the fourth quarter worth approximately $41,000. Curio Wealth LLC acquired a new position in shares of Broadridge Financial Solutions during the fourth quarter worth approximately $45,000. Salem Investment Counselors Inc. grew its stake in shares of Broadridge Financial Solutions by 200.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 225 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 150 shares during the last quarter. Finally, Promus Capital LLC acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $52,000. 90.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BR. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Thursday. Morgan Stanley raised their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. boosted their price objective on 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 raised their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, DA Davidson reiterated a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating and one has 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 $241.00.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR opened at $231.56 on Friday. The company has a market capitalization of $27.10 billion, a price-to-earnings ratio of 36.24 and a beta of 1.06. The firm’s 50 day simple moving average is $235.60 and its 200 day simple moving average is $229.30. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $247.01.

Broadridge Financial Solutions (NYSE:BR) last announced 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 previous year, the business earned $0.92 EPS. As a group, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date was Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 55.09%.

Insider Transactions at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 95,956 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 169,788 shares in the company, valued at $39,973,188.84. This trade represents a 36.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Christopher John Perry sold 22,357 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the completion of the transaction, the president now directly owns 52,524 shares of the company’s stock, valued at approximately $12,355,220.52. The trade was a 29.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 124,754 shares of company stock valued at $29,397,793 over the last 90 days. 1.30% of the stock is owned by company 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.