Broadridge Financial Solutions, Inc. (NYSE:BR) Stake Raised by Assetmark Inc.

Assetmark Inc. grew its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1,615.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,440 shares of the business services provider’s stock after buying an additional 10,773 shares during the period. Assetmark Inc.’s holdings in Broadridge Financial Solutions were worth $2,586,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in BR. Graypoint LLC acquired a new position in shares of Broadridge Financial Solutions during the third quarter valued at approximately $216,000. Principal Financial Group Inc. increased its stake in shares of Broadridge Financial Solutions by 4.3% during the third quarter. Principal Financial Group Inc. now owns 157,645 shares of the business services provider’s stock valued at $33,898,000 after acquiring an additional 6,552 shares during the period. CWA Asset Management Group LLC acquired a new position in shares of Broadridge Financial Solutions during the third quarter valued at approximately $260,000. SpiderRock Advisors LLC increased its stake in shares of Broadridge Financial Solutions by 86.4% during the third quarter. SpiderRock Advisors LLC now owns 6,309 shares of the business services provider’s stock valued at $1,357,000 after acquiring an additional 2,925 shares during the period. Finally, Atria Investments Inc increased its stake in shares of Broadridge Financial Solutions by 9.7% during the third quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock valued at $6,373,000 after acquiring an additional 2,610 shares during the period. Institutional investors own 90.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on BR. UBS Group raised their price objective 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. DA Davidson restated a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. JPMorgan Chase & Co. lifted their price target on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Finally, Royal Bank of Canada lifted their price target on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $239.17.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the completion of the sale, the vice president now owns 6,602 shares of the company’s stock, valued at $1,595,043.20. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert N. Duelks sold 485 shares of Broadridge Financial Solutions stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $237.93, for a total transaction of $115,396.05. Following the sale, the director now directly owns 4,960 shares of the company’s stock, valued at $1,180,132.80. This trade represents a 8.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,441 shares of company stock worth $1,547,835. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Trading Up 1.5 %

NYSE BR opened at $241.30 on Monday. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $246.58. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. The stock has a market cap of $28.24 billion, a price-to-earnings ratio of 37.76 and a beta of 1.05. The firm’s 50 day moving average price is $235.35 and its two-hundred day moving average price is $225.50.

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

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.46%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is 55.09%.

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.