Empirical Financial Services LLC d.b.a. Empirical Wealth Management Grows Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,980 shares of the business services provider’s stock after purchasing an additional 113 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Broadridge Financial Solutions were worth $448,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Sei Investments Co. boosted its stake in Broadridge Financial Solutions by 22.7% in the 2nd quarter. Sei Investments Co. now owns 24,102 shares of the business services provider’s stock worth $4,749,000 after purchasing an additional 4,465 shares during the period. Public Sector Pension Investment Board grew its stake in Broadridge Financial Solutions by 79.8% during the second quarter. Public Sector Pension Investment Board now owns 4,640 shares of the business services provider’s stock valued at $914,000 after acquiring an additional 2,060 shares in the last quarter. AQR Capital Management LLC increased its holdings in Broadridge Financial Solutions by 14.9% during the 2nd quarter. AQR Capital Management LLC now owns 65,706 shares of the business services provider’s stock worth $12,944,000 after acquiring an additional 8,527 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Broadridge Financial Solutions by 0.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 71,573 shares of the business services provider’s stock worth $14,100,000 after purchasing an additional 524 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Broadridge Financial Solutions by 13.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,234 shares of the business services provider’s stock valued at $1,425,000 after purchasing an additional 849 shares during the period. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Trading Down 0.9 %

Shares of BR opened at $235.74 on Thursday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $241.45. The firm has a 50 day moving average price of $230.87 and a 200-day moving average price of $219.82. The firm has a market cap of $27.56 billion, a price-to-earnings ratio of 40.79 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the firm earned $1.09 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 13th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.90%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BR. UBS Group assumed coverage on shares of Broadridge Financial Solutions in a report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. DA Davidson reaffirmed a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Finally, Morgan Stanley lifted their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Broadridge Financial Solutions currently has a consensus rating of “Hold” and a consensus target price of $226.71.

Insider Transactions at Broadridge Financial Solutions

In related news, insider Douglas Richard Deschutter sold 24,185 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $220.21, for a total value of $5,325,778.85. Following the sale, the insider now directly owns 27,137 shares of the company’s stock, valued at $5,975,838.77. This trade represents a 47.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Maura A. Markus sold 3,880 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $227.02, for a total value of $880,837.60. Following the transaction, the director now owns 27,788 shares in the company, valued at approximately $6,308,431.76. This represents a 12.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,532 shares of company stock worth $12,264,846. Insiders own 1.30% of the company’s stock.

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.