Assetmark Inc. Has $143,000 Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Assetmark Inc. boosted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 130.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 667 shares of the business services provider’s stock after acquiring an additional 377 shares during the quarter. Assetmark Inc.’s holdings in Broadridge Financial Solutions were worth $143,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bogart Wealth LLC raised its position in shares of Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 96 shares during the period. EdgeRock Capital LLC bought a new position in Broadridge Financial Solutions in the 2nd quarter valued at about $32,000. Rothschild Investment LLC acquired a new stake in Broadridge Financial Solutions during the second quarter worth approximately $32,000. New Covenant Trust Company N.A. bought a new stake in shares of Broadridge Financial Solutions during the first quarter worth approximately $34,000. Finally, Hazlett Burt & Watson Inc. acquired a new position in shares of Broadridge Financial Solutions in the third quarter valued at approximately $38,000. Institutional investors own 90.03% of the company’s stock.

Wall Street Analysts Forecast Growth

BR has been the subject of several research reports. Royal Bank of Canada reissued an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. JPMorgan Chase & Co. boosted their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Morgan Stanley raised their price target on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $217.83.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $227.78 on Monday. The company has a market cap of $26.63 billion, a price-to-earnings ratio of 39.41 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a fifty-two week low of $180.31 and a fifty-two week high of $230.00. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. The stock has a fifty day moving average price of $215.95 and a 200-day moving average price of $208.23.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the business posted $1.09 earnings per share. Broadridge Financial Solutions’s revenue was down .6% compared to the same quarter last year. As a group, equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a dividend of $0.88 per share. The ex-dividend date is Friday, December 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.55%. Broadridge Financial Solutions’s dividend payout ratio is 60.90%.

Insider Activity at Broadridge Financial Solutions

In related news, Director Maura A. Markus sold 3,880 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $227.02, for a total transaction of $880,837.60. Following the sale, the director now directly owns 27,788 shares of the company’s stock, valued at approximately $6,308,431.76. The trade was a 12.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $209.31, for a total transaction of $5,232,750.00. Following the completion of the transaction, the chief executive officer now directly owns 206,349 shares of the company’s stock, valued at approximately $43,190,909.19. The trade was a 10.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,534 shares of company stock valued at $24,748,962 over the last three months. 1.30% of the stock is owned by insiders.

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.