Venturi Wealth Management LLC Buys 1,014 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Venturi Wealth Management LLC grew its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 66.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,547 shares of the business services provider’s stock after buying an additional 1,014 shares during the quarter. Venturi Wealth Management LLC’s holdings in Broadridge Financial Solutions were worth $576,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bogart Wealth LLC grew its stake 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 worth $26,000 after purchasing an additional 96 shares during the last quarter. True Wealth Design LLC grew its stake in shares of Broadridge Financial Solutions by 2,028.6% in the third 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 during the last quarter. Fortitude Family Office LLC grew its stake in shares of Broadridge Financial Solutions by 246.7% in the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after purchasing an additional 111 shares during the last quarter. Hazlett Burt & Watson Inc. bought a new stake in shares of Broadridge Financial Solutions in the third quarter worth $38,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Broadridge Financial Solutions in the third quarter worth $39,000. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $238.82 on Thursday. The firm’s 50-day moving average price is $232.75 and its 200-day moving average price is $223.09. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $244.47. The firm has a market capitalization of $27.95 billion, a P/E ratio of 37.37 and a beta of 1.08. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating 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 quarter last year, the company earned $0.92 EPS. Equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

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 issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.47%. Broadridge Financial Solutions’s dividend payout ratio is currently 55.09%.

Insider Buying and Selling

In related news, VP Thomas P. Carey sold 15,710 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total value of $3,618,327.20. Following the sale, the vice president now owns 12,146 shares in the company, valued at $2,797,466.72. This represents a 56.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brett Keller sold 5,442 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the completion of the sale, the director now owns 15,536 shares in the company, valued at $3,734,854.40. This represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,666 shares of company stock worth $5,050,766 in the last quarter. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. DA Davidson reaffirmed a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. JPMorgan Chase & Co. upped their price target on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Royal Bank of Canada upped their price target on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley upped their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Broadridge Financial Solutions has a consensus rating of “Hold” and an average target price of $239.17.

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.