Broadridge Financial Solutions, Inc. (NYSE:BR) Stake Boosted by Nicolet Advisory Services LLC

Nicolet Advisory Services LLC lifted its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.8% during the fourth quarter, HoldingsChannel reports. The fund owned 1,010 shares of the business services provider’s stock after purchasing an additional 46 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Broadridge Financial Solutions were worth $224,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BR. FMR LLC lifted its stake in Broadridge Financial Solutions by 9.7% in the third quarter. FMR LLC now owns 80,194 shares of the business services provider’s stock valued at $17,244,000 after acquiring an additional 7,077 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Broadridge Financial Solutions by 4.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 4,840 shares of the business services provider’s stock valued at $1,041,000 after purchasing an additional 200 shares in the last quarter. Verition Fund Management LLC acquired a new stake in shares of Broadridge Financial Solutions in the 3rd quarter valued at $2,325,000. IHT Wealth Management LLC bought a new stake in Broadridge Financial Solutions in the third quarter worth $288,000. Finally, Royal London Asset Management Ltd. increased its position in Broadridge Financial Solutions by 80.7% during the third quarter. Royal London Asset Management Ltd. now owns 95,305 shares of the business services provider’s stock worth $20,493,000 after buying an additional 42,556 shares during the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BR. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. DA Davidson reiterated a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. JPMorgan Chase & Co. lifted their price target on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Finally, UBS Group upped their price objective 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. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $241.00.

Broadridge Financial Solutions Stock Down 6.1 %

Shares of BR stock opened at $225.19 on Friday. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $247.01. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The firm has a market cap of $26.35 billion, a PE ratio of 35.24 and a beta of 1.06. The stock has a 50 day moving average of $237.48 and a 200-day moving average of $228.53.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same quarter in the previous year, the company posted $0.92 earnings per share. On average, equities analysts predict 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 was paid on Thursday, April 3rd. Investors of record on Thursday, March 13th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $3.52 annualized dividend and a yield of 1.56%. Broadridge Financial Solutions’s dividend payout ratio is 55.09%.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $235.43, for a total value of $22,590,921.08. Following the sale, the chief executive officer now owns 169,788 shares of the company’s stock, valued at $39,973,188.84. The trade was a 36.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Christopher John Perry sold 22,357 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the completion of the transaction, the president now owns 52,524 shares of the company’s stock, valued at approximately $12,355,220.52. This represents a 29.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 124,754 shares of company stock valued at $29,397,793 in the last quarter. Corporate insiders own 1.30% of the company’s stock.

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.