Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Bought by Modern Wealth Management LLC

Modern Wealth Management LLC lifted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,649 shares of the business services provider’s stock after purchasing an additional 156 shares during the quarter. Modern Wealth Management LLC’s holdings in Broadridge Financial Solutions were worth $3,308,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Zevenbergen Capital Investments LLC boosted its holdings in Broadridge Financial Solutions by 0.4% in the fourth quarter. Zevenbergen Capital Investments LLC now owns 34,140 shares of the business services provider’s stock valued at $7,719,000 after purchasing an additional 130 shares during the period. Congress Wealth Management LLC DE raised its position in Broadridge Financial Solutions by 4.3% in the 4th quarter. Congress Wealth Management LLC DE now owns 77,242 shares of the business services provider’s stock valued at $17,464,000 after purchasing an additional 3,151 shares in the last quarter. Vanguard Group Inc. raised its position in Broadridge Financial Solutions by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 14,294,766 shares of the business services provider’s stock valued at $3,231,904,000 after purchasing an additional 74,674 shares in the last quarter. LPL Financial LLC grew its position in shares of Broadridge Financial Solutions by 3.3% during the fourth quarter. LPL Financial LLC now owns 279,536 shares of the business services provider’s stock worth $63,200,000 after buying an additional 9,056 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Broadridge Financial Solutions during the fourth quarter worth about $9,164,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 169,788 shares in the company, valued at approximately $39,973,188.84. This trade represents a 36.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Laura Matlin sold 514 shares of the company’s stock in a transaction that occurred 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 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 disclosure for this sale can be found here. In the last three months, insiders have sold 124,754 shares of company stock valued at $29,397,793. Insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Up 0.5 %

BR opened at $237.04 on Wednesday. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year 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 capitalization of $27.74 billion, a P/E ratio of 37.10 and a beta of 1.05. The business’s 50-day simple moving average is $236.46 and its 200-day simple moving average is $227.22.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results 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 quarter last year, the business earned $0.92 EPS. Analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 55.09%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BR shares. UBS Group lifted their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Morgan Stanley increased their target price 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. 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. Finally, Royal Bank of Canada upped their price objective on 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 investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.