Farther Finance Advisors LLC Sells 74 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Farther Finance Advisors LLC cut its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,465 shares of the business services provider’s stock after selling 74 shares during the quarter. Farther Finance Advisors LLC’s holdings in Broadridge Financial Solutions were worth $783,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in BR. EverSource Wealth Advisors LLC raised its position in 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 valued at $163,000 after purchasing an additional 64 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $238,000. HighTower Advisors LLC raised its holdings in Broadridge Financial Solutions by 1.6% in the 4th quarter. HighTower Advisors LLC now owns 121,742 shares of the business services provider’s stock valued at $27,525,000 after buying an additional 1,881 shares during the last quarter. AGF Management Ltd. acquired a new stake in Broadridge Financial Solutions during the 4th quarter worth approximately $2,513,000. Finally, Avantax Planning Partners Inc. grew its holdings in Broadridge Financial Solutions by 20.9% during the 4th quarter. Avantax Planning Partners Inc. now owns 1,155 shares of the business services provider’s stock worth $261,000 after acquiring an additional 200 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Broadridge Financial Solutions Stock Up 1.0 %

Shares of NYSE:BR opened at $227.76 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. Broadridge Financial Solutions, Inc. has a 52-week low of $188.30 and a 52-week high of $246.58. The business’s 50 day simple moving average is $235.40 and its two-hundred day simple moving average is $226.00. The firm has a market cap of $26.65 billion, a P/E ratio of 35.64 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, topping the consensus estimate 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 in the prior year, the firm earned $0.92 earnings per share. As a group, research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

Insider Transactions at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 95,956 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the sale, the chief executive officer now owns 169,788 shares in the company, valued at approximately $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 accessible through this link. Also, Director Brett Keller sold 5,442 shares of the company’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 transaction, the director now owns 15,536 shares in the company, valued at approximately $3,734,854.40. The trade was a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 124,754 shares of company stock worth $29,397,793 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.

About Broadridge Financial Solutions

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.