Assetmark Inc. Has $2.59 Million Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Assetmark Inc. lifted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1,615.1% in the 4th quarter, Holdings Channel reports. The firm owned 11,440 shares of the business services provider’s stock after buying an additional 10,773 shares during the quarter. Assetmark Inc.’s holdings in Broadridge Financial Solutions were worth $2,586,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. True Wealth Design LLC raised its holdings in Broadridge Financial Solutions by 2,028.6% in the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after acquiring an additional 142 shares during the period. Fortitude Family Office LLC raised its holdings in Broadridge Financial Solutions by 246.7% in the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after acquiring an additional 111 shares during the period. FSA Wealth Management LLC bought a new position in Broadridge Financial Solutions in the 3rd quarter worth $39,000. Global X Japan Co. Ltd. bought a new position in Broadridge Financial Solutions in the 4th quarter worth $41,000. Finally, Truvestments Capital LLC bought a new position in Broadridge Financial Solutions in the 3rd quarter worth $45,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Up 1.5 %

Shares of BR opened at $241.30 on Monday. The company has a 50-day simple moving average of $235.35 and a 200-day simple moving average of $225.50. The firm has a market capitalization of $28.24 billion, a P/E ratio of 37.76 and a beta of 1.05. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $246.58.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 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 last year, the company earned $0.92 earnings per share. On average, equities research analysts expect 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 will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

Wall Street Analyst Weigh In

Several brokerages recently commented on BR. Royal Bank of Canada lifted 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. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. JPMorgan Chase & Co. lifted their target price on shares of 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 boosted their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, DA Davidson reaffirmed a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Hold” and an average target price of $239.17.

Insider Buying and Selling

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the sale, the vice president now directly owns 6,602 shares of the company’s stock, valued at approximately $1,595,043.20. This represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert N. Duelks sold 485 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was 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 in the company, valued at $1,180,132.80. This represents a 8.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,441 shares of company stock valued at $1,547,835 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Company 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.