Broadridge Financial Solutions, Inc. (NYSE:BR) Position Reduced by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lowered its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 42,684 shares of the business services provider’s stock after selling 1,143 shares during the period. Broadridge Financial Solutions makes up 1.0% of Marks Group Wealth Management Inc’s holdings, making the stock its 14th biggest holding. Marks Group Wealth Management Inc’s holdings in Broadridge Financial Solutions were worth $8,782,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Stifel Financial Corp raised its stake in Broadridge Financial Solutions by 1,700.7% during the third quarter. Stifel Financial Corp now owns 1,542,507 shares of the business services provider’s stock valued at $276,194,000 after buying an additional 1,456,847 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Broadridge Financial Solutions by 124.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 687,830 shares of the business services provider’s stock valued at $123,156,000 after buying an additional 381,882 shares during the last quarter. International Assets Investment Management LLC bought a new position in Broadridge Financial Solutions in the fourth quarter worth about $227,750,000. Assenagon Asset Management S.A. boosted its stake in Broadridge Financial Solutions by 1,865.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 93,363 shares of the business services provider’s stock valued at $19,209,000 after acquiring an additional 88,613 shares during the period. Finally, HighTower Advisors LLC grew its holdings in shares of Broadridge Financial Solutions by 307.8% during the third quarter. HighTower Advisors LLC now owns 110,691 shares of the business services provider’s stock valued at $19,833,000 after purchasing an additional 83,546 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Analyst Ratings Changes

BR has been the topic of several recent research reports. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Raymond James lifted their price objective on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Evercore ISI reiterated an “outperform” rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Royal Bank of Canada upped their price target on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Finally, DA Davidson reiterated a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $206.67.

Broadridge Financial Solutions Price Performance

NYSE:BR traded up $0.85 during mid-day trading on Monday, reaching $194.23. 318,416 shares of the stock were exchanged, compared to its average volume of 512,714. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.77. The business has a fifty day moving average price of $200.66 and a 200 day moving average price of $194.34. Broadridge Financial Solutions, Inc. has a 1-year low of $139.52 and a 1-year high of $210.24. The firm has a market capitalization of $22.87 billion, a PE ratio of 33.84 and a beta of 0.99.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Thursday, February 1st. The business services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the previous year, the company posted $0.91 EPS. The business’s revenue was up 8.7% compared to the same quarter last year. Research analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.65%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.75%.

Insider Buying and Selling

In other news, insider Douglas Richard Deschutter sold 22,722 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total value of $4,521,678.00. Following the completion of the sale, the insider now owns 44,680 shares in the company, valued at $8,891,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 12,731 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total value of $2,559,185.62. Following the transaction, the vice president now owns 13,303 shares in the company, valued at $2,674,169.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas Richard Deschutter sold 22,722 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total value of $4,521,678.00. Following the completion of the sale, the insider now directly owns 44,680 shares of the company’s stock, valued at approximately $8,891,320. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,483 shares of company stock valued at $9,745,637. 1.60% of the stock is owned by corporate 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.