MONECO Advisors LLC Boosts Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

MONECO Advisors LLC lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 14.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,795 shares of the business services provider’s stock after purchasing an additional 229 shares during the period. MONECO Advisors LLC’s holdings in Broadridge Financial Solutions were worth $406,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BR. True Wealth Design LLC boosted its holdings in shares of Broadridge Financial Solutions by 2,028.6% during the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after purchasing an additional 142 shares during the period. Fortitude Family Office LLC boosted its holdings in shares of Broadridge Financial Solutions by 246.7% during the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after purchasing an additional 111 shares during the period. Hazlett Burt & Watson Inc. purchased a new stake in shares of Broadridge Financial Solutions during the third quarter worth about $38,000. FSA Wealth Management LLC purchased a new stake in shares of Broadridge Financial Solutions during the third quarter worth about $39,000. Finally, Global X Japan Co. Ltd. purchased a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth about $41,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BR. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. DA Davidson restated a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. UBS Group raised 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. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Five 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 an average rating of “Hold” and a consensus target price of $239.17.

Broadridge Financial Solutions Price Performance

BR stock opened at $236.25 on Tuesday. The firm has a 50 day moving average price of $232.87 and a 200-day moving average price of $223.62. Broadridge Financial Solutions, Inc. has a 52-week low of $188.30 and a 52-week high of $244.47. The firm has a market capitalization of $27.65 billion, a price-to-earnings ratio of 36.97 and a beta of 1.08. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (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 last year, the business earned $0.92 earnings per share. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

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 issued a dividend of $0.88 per share. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.49%. Broadridge Financial Solutions’s payout ratio is 55.09%.

Insider Activity

In related news, Director Brett Keller sold 5,442 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the completion of the sale, the director now owns 15,536 shares of the company’s stock, valued at $3,734,854.40. This trade represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Laura Matlin sold 514 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the sale, the vice president now directly owns 6,602 shares of the company’s stock, valued at $1,595,043.20. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,666 shares of company stock worth $5,050,766. 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.