Princeton Global Asset Management LLC boosted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) by 1.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,710 shares of the business services provider’s stock after acquiring an additional 238 shares during the period. Princeton Global Asset Management LLC’s holdings in Broadridge Financial Solutions were worth $4,004,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of BR. McAdam LLC acquired a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth about $215,000. U.S. Capital Wealth Advisors LLC acquired a new stake in Broadridge Financial Solutions during the fourth quarter worth approximately $305,000. DAVENPORT & Co LLC lifted its position in shares of Broadridge Financial Solutions by 6.5% during the 4th quarter. DAVENPORT & Co LLC now owns 1,475 shares of the business services provider’s stock worth $333,000 after buying an additional 90 shares during the last quarter. Symphony Financial Ltd. Co. purchased a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at $216,000. Finally, Independence Bank of Kentucky raised its stake in Broadridge Financial Solutions by 1,815.8% during the 4th quarter. Independence Bank of Kentucky now owns 1,820 shares of the business services provider’s stock worth $411,000 after acquiring an additional 1,725 shares in the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the company. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. UBS Group assumed coverage on Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a “neutral” rating and a $250.00 price target on the stock. Morgan Stanley boosted their price objective on 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. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Finally, DA Davidson reiterated a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Broadridge Financial Solutions has a consensus rating of “Hold” and a consensus target price of $228.83.
Insider Activity at Broadridge Financial Solutions
In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 24,185 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the sale, the insider now directly owns 27,137 shares in the company, valued at approximately $5,975,838.77. The trade was a 47.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas P. Carey sold 10,757 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $226.82, for a total value of $2,439,902.74. Following the completion of the transaction, the vice president now owns 12,689 shares of the company’s stock, valued at approximately $2,878,118.98. This represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,532 shares of company stock worth $12,264,846 over the last three months. 1.30% of the stock is currently owned by corporate insiders.
Broadridge Financial Solutions Stock Performance
NYSE:BR opened at $238.50 on Monday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.39. The firm has a market cap of $27.88 billion, a price-to-earnings ratio of 37.32 and a beta of 1.08. The firm’s fifty day moving average price is $231.26 and its 200 day moving average price is $220.33. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $241.45.
Broadridge Financial Solutions (NYSE:BR – Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter last year, the business earned $0.92 EPS. On average, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.55 EPS for the current year.
Broadridge Financial Solutions Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were paid 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 dividend yield of 1.48%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.
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.
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