Maridea Wealth Management LLC Makes New Investment in Broadridge Financial Solutions, Inc. (NYSE:BR)

Maridea Wealth Management LLC purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 1,179 shares of the business services provider’s stock, valued at approximately $267,000.

A number of other institutional investors and hedge funds have also modified their holdings of BR. True Wealth Design LLC grew its stake in Broadridge Financial Solutions by 2,028.6% in the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after buying an additional 142 shares during the last quarter. Fortitude Family Office LLC boosted its holdings in Broadridge Financial Solutions by 246.7% during the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 111 shares during the period. FSA Wealth Management LLC acquired a new stake in shares of Broadridge Financial Solutions in the third quarter valued at about $39,000. Global X Japan Co. Ltd. bought a new position in shares of Broadridge Financial Solutions in the fourth quarter worth about $41,000. Finally, Curio Wealth LLC acquired a new position in shares of Broadridge Financial Solutions during the 4th quarter worth about $45,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Trading Down 0.5 %

Shares of Broadridge Financial Solutions stock opened at $237.60 on Friday. The company’s fifty day moving average price is $236.97 and its two-hundred day moving average price is $227.66. The firm has a market capitalization of $27.80 billion, a PE ratio of 37.18 and a beta of 1.05. 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 current ratio of 1.35 and a quick ratio of 1.35.

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, analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current 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 issued a dividend of $0.88 per share. The ex-dividend date is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.48%. Broadridge Financial Solutions’s payout ratio is presently 55.09%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BR. DA Davidson reaffirmed a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Royal Bank of Canada raised their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. UBS Group upped their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research note 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. Finally, Morgan Stanley boosted their price objective on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Five 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, Broadridge Financial Solutions currently has a consensus rating of “Hold” and an average target price of $241.00.

Insider Activity

In related news, VP Laura Matlin sold 514 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total transaction of $124,182.40. Following the sale, the vice president now directly owns 6,602 shares in the company, valued at $1,595,043.20. This represents a 7.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brett Keller sold 5,442 shares of Broadridge Financial Solutions stock in a transaction dated 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 directly owns 15,536 shares of the company’s stock, valued at $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. In the last quarter, insiders have sold 124,754 shares of company stock worth $29,397,793. Corporate insiders own 1.30% of the company’s stock.

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.