Lake Street Advisors Group LLC Invests $233,000 in Broadridge Financial Solutions, Inc. (NYSE:BR)

Lake Street Advisors Group LLC purchased a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,026 shares of the business services provider’s stock, valued at approximately $233,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Broadridge Financial Solutions during the 3rd quarter worth about $44,746,000. Benjamin Edwards Inc. lifted its holdings in Broadridge Financial Solutions by 2,302.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 147,004 shares of the business services provider’s stock worth $31,618,000 after purchasing an additional 140,886 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Broadridge Financial Solutions by 97.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 198,878 shares of the business services provider’s stock worth $42,765,000 after purchasing an additional 98,275 shares in the last quarter. Worldquant Millennium Advisors LLC lifted its holdings in Broadridge Financial Solutions by 113.8% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 141,533 shares of the business services provider’s stock worth $30,434,000 after purchasing an additional 75,349 shares in the last quarter. Finally, State Street Corp lifted its holdings in Broadridge Financial Solutions by 1.0% during the 3rd quarter. State Street Corp now owns 5,181,715 shares of the business services provider’s stock worth $1,118,644,000 after purchasing an additional 51,439 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $241.26 on Friday. The business’s 50-day moving average price is $233.55 and its two-hundred day moving average price is $223.96. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $244.47. The stock has a market cap of $28.23 billion, a P/E 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 (NYSE:BR) last released its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping 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 period in the prior year, the business posted $0.92 earnings per share. As a group, equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

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

Wall Street Analyst Weigh In

BR has been the topic of a number of recent research reports. DA Davidson reissued a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Thursday. Morgan Stanley raised their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada raised their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $239.17.

Insider Buying and Selling

In related news, Director Robert N. Duelks sold 485 shares of the business’s 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 owns 4,960 shares in the company, valued at $1,180,132.80. The trade was a 8.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the transaction, the vice president now directly owns 6,602 shares in the company, valued at $1,595,043.20. This trade represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,151 shares of company stock worth $5,166,162 in the last quarter. 1.30% of the stock is owned by insiders.

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.