SVB Wealth LLC Takes Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

SVB Wealth LLC acquired a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the 4th quarter, Holdings Channel.com reports. The firm acquired 77,377 shares of the business services provider’s stock, valued at approximately $17,494,000.

A number of other large investors have also recently bought and sold shares of the company. Qsemble Capital Management LP bought a new stake in shares of Broadridge Financial Solutions during the 3rd quarter worth $1,412,000. Atria Investments Inc lifted its holdings 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 worth $6,373,000 after acquiring an additional 2,610 shares during the last quarter. Horizon Kinetics Asset Management LLC bought a new position in shares of Broadridge Financial Solutions in the third quarter worth about $483,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Broadridge Financial Solutions by 53.5% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock valued at $2,434,000 after purchasing an additional 3,753 shares in the last quarter. Finally, Miracle Mile Advisors LLC grew its holdings in shares of Broadridge Financial Solutions by 98.0% during the 4th quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider’s stock valued at $550,000 after purchasing an additional 1,204 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on BR. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Thursday. Morgan Stanley increased their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. UBS Group boosted their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Finally, DA Davidson reissued a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of “Hold” and a consensus price target of $239.17.

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $241.26 on Friday. The company has a market capitalization of $28.23 billion, a price-to-earnings ratio of 37.76 and a beta of 1.08. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $244.47. The stock has a fifty day simple moving average of $233.55 and a 200 day simple moving average of $223.96.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating 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 period in the previous year, the business earned $0.92 earnings per share. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 annualized dividend and a yield of 1.46%. Broadridge Financial Solutions’s payout ratio is 55.09%.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 485 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $237.93, for a total value of $115,396.05. Following the completion of the sale, the director now directly owns 4,960 shares in the company, valued at approximately $1,180,132.80. The trade was a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Thomas P. Carey sold 15,710 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total value of $3,618,327.20. Following the completion of the transaction, the vice president now directly owns 12,146 shares in the company, valued at approximately $2,797,466.72. This trade represents a 56.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,151 shares of company stock worth $5,166,162. Company 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.