Edgestream Partners L.P. Invests $1.52 Million in Broadridge Financial Solutions, Inc. (NYSE:BR)

Edgestream Partners L.P. bought a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,717 shares of the business services provider’s stock, valued at approximately $1,519,000.

Other large investors also recently modified their holdings of the company. True Wealth Design LLC lifted its position 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 in the last quarter. Fortitude Family Office LLC lifted its position 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 in the last quarter. Global X Japan Co. Ltd. acquired a new position in shares of Broadridge Financial Solutions during the fourth quarter worth approximately $41,000. FSA Wealth Management LLC acquired a new position in shares of Broadridge Financial Solutions during the third quarter worth approximately $39,000. Finally, Truvestments Capital LLC acquired a new position in Broadridge Financial Solutions in the third quarter valued at approximately $45,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BR shares. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Royal Bank of Canada increased their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. increased their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company 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 Saturday. Finally, Morgan Stanley increased their price objective on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $239.17.

Insider Transactions at Broadridge Financial Solutions

In other news, Director Brett Keller sold 5,442 shares of the stock in a transaction 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 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 this hyperlink. Also, Director Robert N. Duelks sold 485 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $237.93, for a total transaction of $115,396.05. Following the completion of the transaction, the director now directly owns 4,960 shares of the company’s stock, valued at approximately $1,180,132.80. This trade represents a 8.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,798 shares of company stock valued at $6,806,872 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Trading Down 3.7 %

BR opened at $231.90 on Tuesday. The firm’s fifty day moving average is $235.35 and its two-hundred day moving average is $225.50. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a market cap of $27.14 billion, a PE ratio of 36.29 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $246.58.

Broadridge Financial Solutions (NYSE:BR) last posted its 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 last year, the firm earned $0.92 EPS. Equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is 55.09%.

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.