Advisor OS LLC Acquires New Shares in Broadridge Financial Solutions, Inc. (NYSE:BR)

Advisor OS LLC purchased a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 1,134 shares of the business services provider’s stock, valued at approximately $256,000.

A number of other hedge funds have also recently made changes to their positions in BR. True Wealth Design LLC grew its position in shares of Broadridge Financial Solutions by 2,028.6% during the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 142 shares in the last quarter. Fortitude Family Office LLC grew its position in shares of Broadridge Financial Solutions by 246.7% during the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 111 shares in the last quarter. Hazlett Burt & Watson Inc. purchased a new position in shares of Broadridge Financial Solutions during the 3rd quarter valued at $38,000. FSA Wealth Management LLC purchased a new position in shares of Broadridge Financial Solutions during the 3rd quarter valued at $39,000. Finally, Global X Japan Co. Ltd. purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at $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 analysts have recently commented on BR shares. Royal Bank of Canada boosted their price target on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. DA Davidson reaffirmed a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. UBS Group lifted 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. Morgan Stanley lifted their price objective 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. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $239.17.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock opened at $237.17 on Friday. 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 company has a market capitalization of $27.75 billion, a PE ratio of 37.12 and a beta of 1.08. The firm has a fifty day simple moving average of $233.55 and a two-hundred day simple moving average of $223.96. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $244.47.

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

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is presently 55.09%.

Insiders Place Their Bets

In other news, Director Brett Keller sold 5,442 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 15,536 shares of the company’s stock, valued at approximately $3,734,854.40. This represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas P. Carey sold 15,710 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the transaction, the vice president now directly owns 12,146 shares of the company’s stock, 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. Insiders sold 21,666 shares of company stock valued at $5,050,766 over the last three months. 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.