B. Riley Wealth Advisors Inc. Grows Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

B. Riley Wealth Advisors Inc. grew its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,222 shares of the business services provider’s stock after buying an additional 61 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Broadridge Financial Solutions were worth $504,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Brighton Jones LLC purchased a new position in Broadridge Financial Solutions in the fourth quarter worth $580,000. Geneos Wealth Management Inc. boosted its holdings in shares of Broadridge Financial Solutions by 4.3% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,576 shares of the business services provider’s stock worth $356,000 after purchasing an additional 65 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Broadridge Financial Solutions by 6.1% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,980 shares of the business services provider’s stock worth $448,000 after purchasing an additional 113 shares in the last quarter. Blue Trust Inc. boosted its stake in Broadridge Financial Solutions by 25.2% in the fourth quarter. Blue Trust Inc. now owns 2,188 shares of the business services provider’s stock worth $471,000 after buying an additional 441 shares in the last quarter. Finally, Foundations Investment Advisors LLC boosted its stake in Broadridge Financial Solutions by 3.5% in the fourth quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider’s stock worth $345,000 after buying an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Trading Down 0.4%

Shares of BR opened at $239.27 on Friday. The stock has a market capitalization of $28.11 billion, a P/E ratio of 37.44 and a beta of 0.98. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The firm has a fifty day simple moving average of $235.78 and a two-hundred day simple moving average of $234.00. Broadridge Financial Solutions, Inc. has a twelve month low of $192.68 and a twelve month high of $247.01.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.03. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the business posted $2.23 earnings per share. Broadridge Financial Solutions’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Thursday, June 12th. Broadridge Financial Solutions’s payout ratio is 52.93%.

Wall Street Analyst Weigh In

BR has been the subject of several research reports. JPMorgan Chase & Co. upped their target price 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. Morgan Stanley upped their price target on shares of 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. UBS Group upped their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Finally, Needham & Company LLC began coverage on Broadridge Financial Solutions in a report on Tuesday, May 6th. They set a “buy” rating and a $300.00 target price for the company. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of “Hold” and an average price target of $250.83.

Insider Buying and Selling

In other news, Director Pamela L. Carter sold 4,829 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $242.23, for a total value of $1,169,728.67. Following the completion of the transaction, the director now owns 7,242 shares in the company, valued at $1,754,229.66. This trade represents a 40.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Christopher John Perry sold 22,357 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $235.23, for a total value of $5,259,037.11. Following the completion of the transaction, the president now owns 52,524 shares of the company’s stock, valued at approximately $12,355,220.52. The trade was a 29.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 132,873 shares of company stock valued at $31,337,863 over the last quarter. 1.30% of the stock is owned by company insiders.

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.