Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Acquired by Wedmont Private Capital

Wedmont Private Capital boosted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 20.4% in the 4th quarter, Holdings Channel reports. The fund owned 2,003 shares of the business services provider’s stock after buying an additional 339 shares during the period. Wedmont Private Capital’s holdings in Broadridge Financial Solutions were worth $444,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Qsemble Capital Management LP acquired a new stake in shares of Broadridge Financial Solutions during the 3rd quarter valued at about $1,412,000. Atria Investments Inc increased its position in shares of Broadridge Financial Solutions by 9.7% in the third quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock valued at $6,373,000 after buying an additional 2,610 shares in the last quarter. Horizon Kinetics Asset Management LLC acquired a new position in shares of Broadridge Financial Solutions during the 3rd quarter worth approximately $483,000. Y Intercept Hong Kong Ltd lifted its position in shares of Broadridge Financial Solutions by 121.3% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 11,561 shares of the business services provider’s stock valued at $2,486,000 after buying an additional 6,336 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in Broadridge Financial Solutions in the 3rd quarter worth $2,251,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Price Performance

BR stock opened at $228.09 on Thursday. Broadridge Financial Solutions, Inc. has a 52-week low of $188.30 and a 52-week high of $237.96. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. The stock has a market cap of $26.66 billion, a price-to-earnings ratio of 39.46 and a beta of 1.08. The business has a fifty day moving average of $228.96 and a two-hundred day moving average of $217.36.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. Broadridge Financial Solutions’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Friday, December 13th. Broadridge Financial Solutions’s payout ratio is 60.90%.

Insiders Place Their Bets

In other news, VP Thomas P. Carey sold 15,710 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the sale, the vice president now owns 12,146 shares of the company’s stock, valued at approximately $2,797,466.72. This represents a 56.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maura A. Markus sold 3,880 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $227.02, for a total transaction of $880,837.60. Following the completion of the transaction, the director now owns 27,788 shares of the company’s stock, valued at $6,308,431.76. This trade represents a 12.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,532 shares of company stock worth $12,264,846 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. DA Davidson lifted their price target on Broadridge Financial Solutions from $210.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Morgan Stanley increased their price objective on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Finally, StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $226.71.

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.