Avitas Wealth Management LLC Increases Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Avitas Wealth Management LLC increased its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,322 shares of the business services provider’s stock after acquiring an additional 72 shares during the period. Avitas Wealth Management LLC’s holdings in Broadridge Financial Solutions were worth $1,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BR. Sanctuary Advisors LLC acquired a new stake in shares of Broadridge Financial Solutions during the second quarter worth about $2,784,000. Handelsbanken Fonder AB increased its holdings in Broadridge Financial Solutions by 21.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 38,061 shares of the business services provider’s stock worth $8,184,000 after buying an additional 6,829 shares during the period. Czech National Bank raised its position in Broadridge Financial Solutions by 5.6% during the 3rd quarter. Czech National Bank now owns 23,774 shares of the business services provider’s stock worth $5,112,000 after buying an additional 1,254 shares during the last quarter. GAMMA Investing LLC lifted its stake in Broadridge Financial Solutions by 39.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,178 shares of the business services provider’s stock valued at $468,000 after acquiring an additional 620 shares during the period. Finally, Miracle Mile Advisors LLC boosted its holdings in shares of Broadridge Financial Solutions by 10.2% in the 3rd quarter. Miracle Mile Advisors LLC now owns 1,229 shares of the business services provider’s stock valued at $264,000 after acquiring an additional 114 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday. DA Davidson restated a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, Royal Bank of Canada boosted their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research note on Monday. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $239.17.

Insider Activity at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 10,757 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now directly owns 12,689 shares of the company’s stock, valued at approximately $2,878,118.98. This trade represents a 45.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Douglas Richard Deschutter sold 24,185 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were 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 of the company’s stock, valued at approximately $5,975,838.77. This represents a 47.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,532 shares of company stock valued at $12,264,846. 1.30% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Stock Up 0.9 %

Shares of BR opened at $240.81 on Wednesday. The firm has a market cap of $28.15 billion, a P/E ratio of 37.68 and a beta of 1.08. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $242.03. The stock’s 50 day moving average is $231.46 and its two-hundred day moving average is $220.84. The company has a current ratio of 1.35, a quick ratio of 1.39 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the company posted $0.92 EPS. Analysts predict that Broadridge Financial Solutions, Inc. will post 8.55 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared 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 dividend yield of 1.46%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

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.