True Wealth Design LLC Has $32,000 Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

True Wealth Design LLC lifted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2,028.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 149 shares of the business services provider’s stock after buying an additional 142 shares during the quarter. True Wealth Design LLC’s holdings in Broadridge Financial Solutions were worth $32,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lazard Asset Management LLC lifted its holdings in Broadridge Financial Solutions by 157.0% during the 1st quarter. Lazard Asset Management LLC now owns 275 shares of the business services provider’s stock worth $56,000 after buying an additional 168 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of Broadridge Financial Solutions by 244.7% during the first quarter. Cetera Investment Advisers now owns 27,070 shares of the business services provider’s stock valued at $5,546,000 after acquiring an additional 19,216 shares during the period. Cetera Advisors LLC boosted its holdings in Broadridge Financial Solutions by 66.4% in the first quarter. Cetera Advisors LLC now owns 9,542 shares of the business services provider’s stock valued at $1,955,000 after acquiring an additional 3,807 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in Broadridge Financial Solutions by 5.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 55,494 shares of the business services provider’s stock worth $11,329,000 after purchasing an additional 2,685 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Broadridge Financial Solutions by 10.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 591 shares of the business services provider’s stock worth $114,000 after purchasing an additional 55 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Activity at Broadridge Financial Solutions

In other news, Director Maura A. Markus sold 3,880 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $227.02, for a total transaction of $880,837.60. Following the completion of the transaction, the director now directly owns 27,788 shares in the company, valued at $6,308,431.76. This represents a 12.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Richard J. Daly sold 21,938 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $207.66, for a total value of $4,555,645.08. Following the completion of the transaction, the chairman now owns 105,094 shares of the company’s stock, valued at $21,823,820.04. The trade was a 17.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,294 shares of company stock valued at $16,944,095. 1.30% of the stock is owned by insiders.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $236.02 on Monday. The firm has a market cap of $27.59 billion, a P/E ratio of 40.83 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $237.74. 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 firm’s 50 day moving average price is $220.06 and its two-hundred day moving average price is $210.54.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.97 by $0.03. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The firm’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.09 EPS. On average, analysts forecast that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a dividend of $0.88 per share. The ex-dividend date is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.49%. Broadridge Financial Solutions’s payout ratio is presently 60.90%.

Analysts Set New Price Targets

BR has been the topic of several recent research reports. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. JPMorgan Chase & Co. lifted their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. UBS Group assumed coverage on shares of Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a “neutral” rating and a $250.00 target price for the company. Morgan Stanley raised their price target on 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Broadridge Financial Solutions has a consensus rating of “Hold” and a consensus target price of $222.43.

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.