Marks Group Wealth Management Inc Lowers Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Marks Group Wealth Management Inc reduced its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.5% during the 4th quarter, Holdings Channel reports. The firm owned 39,663 shares of the business services provider’s stock after selling 1,449 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Broadridge Financial Solutions were worth $8,967,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in BR. Bogart Wealth LLC lifted its position in shares of Broadridge Financial Solutions by 384.0% during the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after buying an additional 96 shares in the last quarter. 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 worth $32,000 after acquiring an additional 142 shares during the period. Fortitude Family Office LLC lifted its holdings 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 purchasing an additional 111 shares in the last quarter. Hazlett Burt & Watson Inc. acquired a new stake in shares of Broadridge Financial Solutions in the third quarter valued at about $38,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Broadridge Financial Solutions during the third quarter worth about $39,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Price Performance

BR stock opened at $241.52 on Wednesday. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $243.00. The firm has a market capitalization of $28.26 billion, a PE ratio of 37.80 and a beta of 1.08. 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 business has a 50 day simple moving average of $232.06 and a 200-day simple moving average of $222.04.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the previous year, the company posted $0.92 earnings per share. Equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors 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 yield of 1.46%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is currently 55.09%.

Insiders Place Their Bets

In other news, VP Thomas P. Carey sold 15,710 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the completion of the transaction, the vice president now directly owns 12,146 shares in the company, valued at approximately $2,797,466.72. This represents a 56.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Laura Matlin sold 514 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the sale, the vice president now directly owns 6,602 shares of the company’s stock, valued at $1,595,043.20. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,666 shares of company stock valued at $5,050,766 over the last ninety days. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

BR has been the topic of a number of research reports. Morgan Stanley raised their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. DA Davidson reissued a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Royal Bank of Canada lifted their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Six 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.com, the company has a consensus rating of “Hold” and an average target price 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.