Broadridge Financial Solutions, Inc. (NYSE:BR) Holdings Raised by Avantax Planning Partners Inc.

Avantax Planning Partners Inc. grew its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 20.9% in the 4th quarter, HoldingsChannel reports. The firm owned 1,155 shares of the business services provider’s stock after acquiring an additional 200 shares during the quarter. Avantax Planning Partners Inc.’s holdings in Broadridge Financial Solutions were worth $261,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BR. True Wealth Design LLC raised its position in 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 valued at $32,000 after buying an additional 142 shares during the period. Fortitude Family Office LLC raised its position in 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 valued at $35,000 after buying an additional 111 shares during the period. Global X Japan Co. Ltd. acquired a new position in Broadridge Financial Solutions during the fourth quarter valued at $41,000. FSA Wealth Management LLC acquired a new position in Broadridge Financial Solutions during the third quarter valued at $39,000. Finally, Truvestments Capital LLC acquired a new position in Broadridge Financial Solutions during the third quarter valued at $45,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Performance

Shares of NYSE BR opened at $224.73 on Thursday. 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 $26.30 billion, a price-to-earnings ratio of 35.17 and a beta of 1.05. The business’s 50-day simple moving average is $235.46 and its 200-day simple moving average is $225.77. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $246.58.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating 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 quarter last year, the business posted $0.92 EPS. As a group, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be paid a dividend of $0.88 per share. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a yield of 1.57%. Broadridge Financial Solutions’s payout ratio is 55.09%.

Insider Activity at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the sale, the chief executive officer now owns 169,788 shares in the company, valued at $39,973,188.84. This represents a 36.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Laura Matlin sold 514 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the sale, the vice president now owns 6,602 shares of the company’s stock, valued at approximately $1,595,043.20. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 124,754 shares of company stock worth $29,397,793 in the last 90 days. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. DA Davidson reaffirmed a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Morgan Stanley upped their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. upped their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research 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, Broadridge Financial Solutions has an average rating of “Hold” and an average price target of $239.17.

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.