Kovitz Investment Group Partners LLC Boosts Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Kovitz Investment Group Partners LLC boosted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 26,193 shares of the business services provider’s stock after purchasing an additional 374 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Broadridge Financial Solutions were worth $5,922,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC grew its holdings in shares of Broadridge Financial Solutions by 246.7% during the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after buying an additional 111 shares during the last quarter. Global X Japan Co. Ltd. purchased a new stake in Broadridge Financial Solutions during the 4th quarter valued at $41,000. Curio Wealth LLC purchased a new stake in Broadridge Financial Solutions during the 4th quarter valued at $45,000. Salem Investment Counselors Inc. increased its holdings in shares of Broadridge Financial Solutions by 200.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 225 shares of the business services provider’s stock worth $51,000 after purchasing an additional 150 shares in the last quarter. Finally, Promus Capital LLC purchased a new position in shares of Broadridge Financial Solutions in the fourth quarter worth $52,000. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Stock Performance

Shares of NYSE BR opened at $237.81 on Friday. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $247.01. The firm has a market capitalization of $27.83 billion, a price-to-earnings ratio of 37.22 and a beta of 1.06. 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 50 day moving average of $234.53 and a 200 day moving average of $230.73.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating 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 posted $0.92 earnings per share. On average, research analysts anticipate 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 declared a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend was Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is 55.09%.

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, Director Brett Keller sold 5,442 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $240.40, for a total value of $1,308,256.80. Following the sale, the director now directly owns 15,536 shares in the company, valued at approximately $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 have sold 124,754 shares of company stock valued at $29,397,793 over the last quarter. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on BR. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, April 22nd. DA Davidson reaffirmed a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Royal Bank of Canada raised their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, UBS Group boosted 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. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Broadridge Financial Solutions presently has a consensus rating of “Hold” and an average price target of $241.00.

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.