RWA Wealth Partners LLC Boosts Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

RWA Wealth Partners LLC lifted its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 61.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,080 shares of the business services provider’s stock after purchasing an additional 4,215 shares during the quarter. RWA Wealth Partners LLC’s holdings in Broadridge Financial Solutions were worth $2,505,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Adero Partners LLC raised its stake in Broadridge Financial Solutions by 2.5% during the fourth quarter. Adero Partners LLC now owns 1,837 shares of the business services provider’s stock worth $415,000 after purchasing an additional 45 shares during the period. Sunburst Financial Group LLC boosted its position in shares of Broadridge Financial Solutions by 4.8% during the 4th quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider’s stock worth $229,000 after purchasing an additional 46 shares during the period. Foundations Investment Advisors LLC increased its holdings in Broadridge Financial Solutions by 3.5% in the 4th quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider’s stock valued at $345,000 after purchasing an additional 52 shares during the last quarter. TCTC Holdings LLC raised its position in Broadridge Financial Solutions by 0.9% in the fourth quarter. TCTC Holdings LLC now owns 5,979 shares of the business services provider’s stock valued at $1,352,000 after purchasing an additional 52 shares during the period. Finally, Mindset Wealth Management LLC lifted its stake in Broadridge Financial Solutions by 2.8% during the fourth quarter. Mindset Wealth Management LLC now owns 1,971 shares of the business services provider’s stock worth $446,000 after purchasing an additional 54 shares in the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $237.60 on Monday. The company has a market capitalization of $27.80 billion, a price-to-earnings ratio of 37.18 and a beta of 1.05. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions, Inc. has a 52-week low of $188.30 and a 52-week high of $246.58. The stock has a 50 day moving average price of $236.97 and a 200 day moving average price of $227.77.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly 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 last year, the company posted $0.92 EPS. Research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

Insider Activity at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 95,956 shares of the 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 transaction, the chief executive officer now directly owns 169,788 shares in the company, valued at $39,973,188.84. This represents a 36.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Christopher John Perry sold 22,357 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the transaction, the president now directly owns 52,524 shares of the company’s stock, valued at $12,355,220.52. This trade represents a 29.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 124,754 shares of company stock valued at $29,397,793. 1.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BR has been the topic of several research analyst reports. Royal Bank of Canada boosted their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. UBS Group increased their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $241.00.

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.