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

MGB Wealth Management LLC grew its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,770 shares of the business services provider’s stock after purchasing an additional 115 shares during the period. MGB Wealth Management LLC’s holdings in Broadridge Financial Solutions were worth $852,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in BR. CWM LLC raised its position in shares of Broadridge Financial Solutions by 3.3% in the 3rd quarter. CWM LLC now owns 7,272 shares of the business services provider’s stock valued at $1,564,000 after purchasing an additional 231 shares in the last quarter. Ritholtz Wealth Management boosted its stake in Broadridge Financial Solutions by 23.1% during the 3rd quarter. Ritholtz Wealth Management now owns 1,487 shares of the business services provider’s stock valued at $320,000 after acquiring an additional 279 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in Broadridge Financial Solutions during the 3rd quarter worth $137,000. Creative Planning increased its position in shares of Broadridge Financial Solutions by 1.3% in the 3rd quarter. Creative Planning now owns 23,039 shares of the business services provider’s stock worth $4,954,000 after purchasing an additional 300 shares during the last quarter. Finally, NBC Securities Inc. raised its stake in shares of Broadridge Financial Solutions by 0.8% in the 3rd quarter. NBC Securities Inc. now owns 5,951 shares of the business services provider’s stock valued at $1,279,000 after purchasing an additional 45 shares in the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the transaction, the vice president now owns 6,602 shares of the company’s stock, valued at approximately $1,595,043.20. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brett Keller sold 5,442 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the completion of the sale, the director now directly owns 15,536 shares of the company’s stock, valued at approximately $3,734,854.40. This represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,666 shares of company stock worth $5,050,766. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

BR has been the subject of several research analyst reports. UBS Group boosted their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Royal Bank of Canada upped their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. JPMorgan Chase & Co. boosted their target price on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley raised their price target on shares of 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. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $239.17.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $242.53 on Thursday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.39. The firm has a market capitalization of $28.38 billion, a PE ratio of 37.95 and a beta of 1.08. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $243.00. The business’s fifty day moving average price is $232.26 and its two-hundred day moving average price is $222.18.

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, 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 earned $0.92 earnings per share. On average, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.45%. 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.