Fragasso Financial Advisors Inc Buys Shares of 922 Broadridge Financial Solutions, Inc. (NYSE:BR)

Fragasso Financial Advisors Inc purchased a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 922 shares of the business services provider’s stock, valued at approximately $208,000.

Several other institutional investors have also recently made changes to their positions in the company. Qsemble Capital Management LP purchased a new position in shares of Broadridge Financial Solutions in the 3rd quarter valued at $1,412,000. Atria Investments Inc grew its stake in Broadridge Financial Solutions by 9.7% in the third quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock valued at $6,373,000 after purchasing an additional 2,610 shares during the last quarter. Horizon Kinetics Asset Management LLC purchased a new position in Broadridge Financial Solutions in the third quarter valued at about $483,000. Quest Partners LLC bought a new position in Broadridge Financial Solutions in the third quarter worth about $2,251,000. Finally, Legacy Capital Wealth Partners LLC lifted its position in shares of Broadridge Financial Solutions by 82.7% during the third quarter. Legacy Capital Wealth Partners LLC now owns 7,107 shares of the business services provider’s stock valued at $1,528,000 after buying an additional 3,216 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 10,757 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the transaction, the vice president now directly owns 12,689 shares of the company’s stock, valued at $2,878,118.98. This trade represents a 45.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Douglas Richard Deschutter sold 24,185 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $220.21, for a total value of $5,325,778.85. Following the completion of the sale, the insider now directly owns 27,137 shares in the company, valued at $5,975,838.77. This represents a 47.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,532 shares of company stock valued at $12,264,846. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BR. Morgan Stanley raised their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. DA Davidson raised their price objective on Broadridge Financial Solutions from $210.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. UBS Group began coverage on Broadridge Financial Solutions in a report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price target for the company. Finally, StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $226.71.

Broadridge Financial Solutions Stock Up 1.7 %

Shares of BR opened at $225.25 on Tuesday. The company has a market capitalization of $26.33 billion, a price-to-earnings ratio of 38.97 and a beta of 1.08. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $237.96. The stock’s 50-day moving average price is $228.78 and its 200-day moving average price is $217.15. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63.

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

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were issued a $0.88 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.56%. Broadridge Financial Solutions’s payout ratio is 60.90%.

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.