HBK Sorce Advisory LLC Acquires 87 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

HBK Sorce Advisory LLC grew its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,086 shares of the business services provider’s stock after acquiring an additional 87 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Broadridge Financial Solutions were worth $2,959,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Broadridge Financial Solutions by 57.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 32,319 shares of the business services provider’s stock worth $7,307,000 after acquiring an additional 11,824 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Broadridge Financial Solutions by 9.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 722 shares of the business services provider’s stock worth $163,000 after acquiring an additional 64 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth about $238,000. HighTower Advisors LLC grew its holdings in shares of Broadridge Financial Solutions by 1.6% during the fourth quarter. HighTower Advisors LLC now owns 121,742 shares of the business services provider’s stock worth $27,525,000 after buying an additional 1,881 shares in the last quarter. Finally, AGF Management Ltd. bought a new position in shares of Broadridge Financial Solutions during the fourth quarter worth about $2,513,000. 90.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. UBS Group increased their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. DA Davidson reiterated a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Finally, Royal Bank of Canada increased their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $239.17.

Broadridge Financial Solutions Stock Down 0.7 %

BR stock opened at $224.73 on Thursday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The business has a 50 day moving average price of $235.46 and a two-hundred day moving average price of $225.77. The company has a market cap of $26.30 billion, a price-to-earnings ratio of 35.17 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $246.58.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share 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 prior year, the business earned $0.92 earnings per share. Analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be given a $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.57%. Broadridge Financial Solutions’s payout ratio is 55.09%.

Insider Activity

In other news, CEO Timothy C. Gokey sold 95,956 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $235.43, for a total value of $22,590,921.08. Following the completion of the sale, the chief executive officer now directly owns 169,788 shares of the company’s stock, valued at $39,973,188.84. This trade represents a 36.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert N. Duelks sold 485 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $237.93, for a total value of $115,396.05. Following the completion of the sale, the director now directly owns 4,960 shares of the company’s stock, valued at approximately $1,180,132.80. The trade was a 8.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 124,754 shares of company stock valued at $29,397,793 over the last three months. Insiders own 1.30% of the company’s stock.

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.