HighPoint Advisor Group LLC Grows Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

HighPoint Advisor Group LLC lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,838 shares of the business services provider’s stock after buying an additional 314 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Broadridge Financial Solutions were worth $1,169,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC lifted its position 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 worth $35,000 after buying an additional 111 shares during the period. Global X Japan Co. Ltd. purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter worth about $41,000. Curio Wealth LLC acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth approximately $45,000. Salem Investment Counselors Inc. grew its holdings in Broadridge Financial Solutions by 200.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 225 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 150 shares during the period. Finally, Promus Capital LLC acquired a new position in Broadridge Financial Solutions during the fourth quarter worth approximately $52,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. UBS Group lifted their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. upped their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. DA Davidson restated a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Finally, Royal Bank of Canada boosted their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Broadridge Financial Solutions has an average rating of “Hold” and an average price target of $241.00.

Insider Buying and Selling

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the sale, the chief executive officer now owns 169,788 shares in the company, valued at $39,973,188.84. This trade represents a 36.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Laura Matlin sold 514 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the transaction, the vice president now directly owns 6,602 shares in the company, valued at approximately $1,595,043.20. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 124,754 shares of company stock valued at $29,397,793 in the last quarter. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $244.70 on Wednesday. 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, Inc. has a 1-year low of $188.30 and a 1-year high of $246.58. The company has a market capitalization of $28.63 billion, a price-to-earnings ratio of 38.29 and a beta of 1.05. The business has a 50-day moving average of $237.43 and a 200-day moving average of $228.23.

Broadridge Financial Solutions (NYSE:BR) last released 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 period in the previous year, the firm posted $0.92 earnings per share. On average, equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is 55.09%.

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.