Independent Advisor Alliance Grows Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Independent Advisor Alliance increased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,634 shares of the business services provider’s stock after acquiring an additional 798 shares during the quarter. Independent Advisor Alliance’s holdings in Broadridge Financial Solutions were worth $5,343,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BR. Principal Financial Group Inc. raised its holdings in Broadridge Financial Solutions by 4.3% in the third quarter. Principal Financial Group Inc. now owns 157,645 shares of the business services provider’s stock worth $33,898,000 after purchasing an additional 6,552 shares in the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Broadridge Financial Solutions during the third quarter valued at about $260,000. Assetmark Inc. increased its holdings in shares of Broadridge Financial Solutions by 130.0% during the third quarter. Assetmark Inc. now owns 667 shares of the business services provider’s stock valued at $143,000 after acquiring an additional 377 shares in the last quarter. Atria Investments Inc increased its holdings in shares of Broadridge Financial Solutions by 9.7% during the third quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock valued at $6,373,000 after acquiring an additional 2,610 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Broadridge Financial Solutions during the third quarter valued at about $7,033,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Trading Down 2.5 %

Broadridge Financial Solutions stock opened at $226.54 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $246.58. The stock’s 50 day simple moving average is $235.49 and its two-hundred day simple moving average is $225.78. The firm has a market cap of $26.51 billion, a PE ratio of 35.45 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter last year, the business posted $0.92 EPS. Analysts anticipate 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 announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.55%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 55.09%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BR shares. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Morgan Stanley increased their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. DA Davidson reiterated a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday. Finally, UBS Group increased their price target 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. 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 stock presently has a consensus rating of “Hold” and a consensus target price of $239.17.

Insider Activity

In other Broadridge Financial Solutions news, President Christopher John Perry sold 22,357 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $235.23, for a total value of $5,259,037.11. Following the transaction, the president now owns 52,524 shares in the company, valued at approximately $12,355,220.52. This trade represents a 29.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert N. Duelks sold 485 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $1,180,132.80. This trade represents a 8.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,798 shares of company stock worth $6,806,872 in the last quarter. Corporate 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.