Lord & Richards Wealth Management LLC Purchases New Shares in Broadridge Financial Solutions, Inc. (NYSE:BR)

Lord & Richards Wealth Management LLC acquired a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,383 shares of the business services provider’s stock, valued at approximately $539,000.

Several other hedge funds also recently bought and sold shares of BR. State Street Corp grew its position in shares of Broadridge Financial Solutions by 1.0% during the 3rd quarter. State Street Corp now owns 5,181,715 shares of the business services provider’s stock worth $1,118,644,000 after buying an additional 51,439 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Broadridge Financial Solutions by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider’s stock worth $643,018,000 after buying an additional 15,208 shares in the last quarter. Stifel Financial Corp grew its position in shares of Broadridge Financial Solutions by 0.4% during the 3rd quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider’s stock worth $342,856,000 after buying an additional 5,813 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Broadridge Financial Solutions by 2.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider’s stock worth $194,585,000 after buying an additional 20,775 shares in the last quarter. Finally, abrdn plc grew its position in shares of Broadridge Financial Solutions by 5.5% during the 3rd quarter. abrdn plc now owns 536,083 shares of the business services provider’s stock worth $114,451,000 after buying an additional 27,869 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Trading Down 1.0 %

Broadridge Financial Solutions stock opened at $240.40 on Friday. The stock has a 50-day moving average of $232.49 and a two-hundred day moving average of $222.53. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.39 and a current ratio of 1.35. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $244.47. The stock has a market cap of $28.13 billion, a PE ratio of 37.62 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates 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 firm earned $0.92 earnings per share. On average, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS 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. Stockholders of record on Thursday, March 13th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is 55.09%.

Insider Transactions at Broadridge Financial Solutions

In related news, 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 transaction 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. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brett Keller sold 5,442 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $240.40, for a total value of $1,308,256.80. Following the completion of the sale, the director now directly owns 15,536 shares in the company, valued at approximately $3,734,854.40. The trade was a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,666 shares of company stock worth $5,050,766 over the last three months. 1.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BR shares. Morgan Stanley increased their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. UBS Group raised their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. raised their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadridge Financial Solutions has an average rating of “Hold” and a consensus 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.