B. Riley Wealth Advisors Inc. Sells 1,469 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

B. Riley Wealth Advisors Inc. cut its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 30.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,308 shares of the business services provider’s stock after selling 1,469 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Broadridge Financial Solutions were worth $683,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BR. APG Asset Management US Inc. bought a new stake in Broadridge Financial Solutions in the fourth quarter valued at approximately $70,498,000. Norges Bank bought a new stake in Broadridge Financial Solutions in the fourth quarter valued at approximately $67,605,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Broadridge Financial Solutions by 28.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,452,720 shares of the business services provider’s stock valued at $286,360,000 after acquiring an additional 323,051 shares during the last quarter. Veritas Investment Partners UK Ltd. boosted its holdings in Broadridge Financial Solutions by 16.9% in the fourth quarter. Veritas Investment Partners UK Ltd. now owns 1,020,533 shares of the business services provider’s stock valued at $210,031,000 after acquiring an additional 147,293 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Broadridge Financial Solutions by 206.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 200,371 shares of the business services provider’s stock valued at $412,000 after acquiring an additional 134,911 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors.

Insider Activity at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 2,500 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.40, for a total value of $501,000.00. Following the completion of the sale, the vice president now directly owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Thomas P. Carey sold 2,500 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.40, for a total value of $501,000.00. Following the completion of the sale, the vice president now directly owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert N. Duelks sold 3,473 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total value of $687,862.38. Following the completion of the sale, the director now directly owns 22,588 shares of the company’s stock, valued at $4,473,779.28. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BR shares. Evercore ISI restated an “outperform” rating and set a $230.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Finally, DA Davidson restated a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $206.67.

Broadridge Financial Solutions Price Performance

Shares of BR opened at $200.78 on Friday. Broadridge Financial Solutions, Inc. has a 12-month low of $157.00 and a 12-month high of $210.24. The business’s fifty day moving average is $197.51 and its 200 day moving average is $199.65. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. The stock has a market cap of $23.73 billion, a P/E ratio of 34.26 and a beta of 1.03.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the business earned $2.05 earnings per share. Broadridge Financial Solutions’s revenue for the quarter was up 4.9% on a year-over-year basis. Sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio is currently 54.61%.

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.