AssuredPartners Investment Advisors LLC Buys Shares of 2,056 Broadridge Financial Solutions, Inc. (NYSE:BR)

AssuredPartners Investment Advisors LLC bought a new position in Broadridge Financial Solutions, Inc. (NYSE:BR) in the fourth quarter, Holdings Channel.com reports. The firm bought 2,056 shares of the business services provider’s stock, valued at approximately $465,000.

Other hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Broadridge Financial Solutions by 53.5% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock valued at $2,434,000 after purchasing an additional 3,753 shares during the last quarter. Miracle Mile Advisors LLC lifted its stake in shares of Broadridge Financial Solutions by 98.0% in the 4th quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider’s stock valued at $550,000 after acquiring an additional 1,204 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in shares of Broadridge Financial Solutions by 121.3% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 11,561 shares of the business services provider’s stock valued at $2,486,000 after acquiring an additional 6,336 shares in the last quarter. Park Place Capital Corp grew its position in Broadridge Financial Solutions by 31.3% during the 4th quarter. Park Place Capital Corp now owns 5,831 shares of the business services provider’s stock worth $1,318,000 after acquiring an additional 1,391 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Broadridge Financial Solutions by 6.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 35,497 shares of the business services provider’s stock worth $7,633,000 after purchasing an additional 2,279 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Timothy C. Gokey sold 95,956 shares of the company’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 transaction, the chief executive officer now owns 169,788 shares in the company, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert N. Duelks sold 485 shares of the firm’s stock in a transaction dated 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 owns 4,960 shares of the company’s stock, valued at approximately $1,180,132.80. This represents a 8.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,754 shares of company stock worth $29,397,793. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Trading Up 0.4 %

NYSE:BR opened at $239.12 on Friday. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $246.58. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. The firm’s fifty day moving average is $236.82 and its 200-day moving average is $227.38. The firm has a market cap of $27.98 billion, a P/E ratio of 37.42 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping 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 quarter in the prior year, the company posted $0.92 earnings per share. Equities analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share 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. Shareholders of record on Thursday, March 13th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

Analyst Ratings Changes

Several research firms have recently weighed in on BR. Morgan Stanley boosted their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” 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 report on Saturday, March 8th. JPMorgan Chase & Co. raised their price target 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. UBS Group boosted their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $241.00.

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.