Legacy Capital Wealth Partners LLC Sells 3,857 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Legacy Capital Wealth Partners LLC reduced its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 54.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,250 shares of the business services provider’s stock after selling 3,857 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Broadridge Financial Solutions were worth $735,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Congress Asset Management Co. raised its holdings in Broadridge Financial Solutions by 1.9% during the fourth quarter. Congress Asset Management Co. now owns 83,799 shares of the business services provider’s stock valued at $18,946,000 after buying an additional 1,579 shares in the last quarter. Lord & Richards Wealth Management LLC acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at about $539,000. Sunburst Financial Group LLC grew its position in shares of Broadridge Financial Solutions by 4.8% in the fourth quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider’s stock valued at $229,000 after purchasing an additional 46 shares during the last quarter. MGB Wealth Management LLC grew its position in shares of Broadridge Financial Solutions by 3.1% in the fourth quarter. MGB Wealth Management LLC now owns 3,770 shares of the business services provider’s stock valued at $852,000 after purchasing an additional 115 shares during the last quarter. Finally, One Plus One Wealth Management LLC grew its position in shares of Broadridge Financial Solutions by 32.2% in the fourth quarter. One Plus One Wealth Management LLC now owns 1,624 shares of the business services provider’s stock valued at $367,000 after purchasing an additional 396 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 15,710 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the completion of the transaction, the vice president now owns 12,146 shares in the company, valued at $2,797,466.72. This trade represents a 56.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the completion of the transaction, the vice president now owns 6,602 shares of the company’s stock, valued at $1,595,043.20. This trade represents a 7.22 % decrease in their position. 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 quarter. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Down 1.0 %

BR stock opened at $240.40 on Friday. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $244.47. The company has a market cap of $28.13 billion, a PE ratio of 37.62 and a beta of 1.08. The business’s 50-day simple moving average is $232.49 and its 200 day simple moving average is $222.58. The company has a quick ratio of 1.39, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

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 analysts’ consensus estimates 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 previous year, the business earned $0.92 earnings per share. On average, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

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 paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is 55.09%.

Wall Street Analyst Weigh In

BR has been the topic of several research analyst reports. UBS Group raised their price target 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. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Morgan Stanley raised their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Royal Bank of Canada lifted their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. 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 research report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Hold” and a consensus price target 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.