Broadridge Financial Solutions, Inc. $BR Stake Increased by Signal Advisors Wealth LLC

Signal Advisors Wealth LLC raised its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 49.7% during the third quarter, HoldingsChannel reports. The fund owned 34,942 shares of the business services provider’s stock after acquiring an additional 11,603 shares during the quarter. Signal Advisors Wealth LLC’s holdings in Broadridge Financial Solutions were worth $8,322,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Clarus Group Inc. lifted its position in shares of Broadridge Financial Solutions by 1.5% during the second quarter. Clarus Group Inc. now owns 2,951 shares of the business services provider’s stock worth $717,000 after purchasing an additional 44 shares during the last quarter. Harbour Investments Inc. lifted its holdings in Broadridge Financial Solutions by 10.1% during the 2nd quarter. Harbour Investments Inc. now owns 489 shares of the business services provider’s stock worth $119,000 after buying an additional 45 shares during the last quarter. Cresset Asset Management LLC lifted its holdings in Broadridge Financial Solutions by 1.8% during the 1st quarter. Cresset Asset Management LLC now owns 2,820 shares of the business services provider’s stock worth $686,000 after buying an additional 49 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Broadridge Financial Solutions by 7.0% in the 1st quarter. Smartleaf Asset Management LLC now owns 747 shares of the business services provider’s stock worth $177,000 after acquiring an additional 49 shares in the last quarter. Finally, PAX Financial Group LLC increased its holdings in shares of Broadridge Financial Solutions by 5.6% in the 2nd quarter. PAX Financial Group LLC now owns 926 shares of the business services provider’s stock valued at $225,000 after acquiring an additional 49 shares during the last quarter. Institutional investors own 90.03% of the company’s stock.

Analysts Set New Price Targets

BR has been the subject of a number of research reports. Morgan Stanley decreased their price objective on shares of Broadridge Financial Solutions from $261.00 to $256.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. DA Davidson reaffirmed a “neutral” rating and set a $240.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, October 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Monday. Finally, UBS Group decreased their target price on Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday, November 13th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $259.83.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 10,214 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $229.26, for a total transaction of $2,341,661.64. Following the sale, the vice president directly owned 6,026 shares in the company, valued at $1,381,520.76. The trade was a 62.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Christopher John Perry sold 3,984 shares of the company’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $226.00, for a total transaction of $900,384.00. Following the completion of the sale, the president directly owned 44,829 shares of the company’s stock, valued at $10,131,354. The trade was a 8.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is owned by insiders.

Broadridge Financial Solutions Trading Down 0.3%

Shares of NYSE:BR opened at $225.93 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.06. The company’s 50-day moving average price is $227.12 and its 200 day moving average price is $239.49. The company has a market cap of $26.37 billion, a PE ratio of 28.93 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a fifty-two week low of $212.33 and a fifty-two week high of $271.91.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. The company had revenue of $1.05 billion for the quarter. Broadridge Financial Solutions had a net margin of 13.11% and a return on equity of 43.28%. Sell-side 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 announced a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Friday, December 12th will be paid a dividend of $0.975 per share. The ex-dividend date of this dividend is Friday, December 12th. This represents a $3.90 annualized dividend and a yield of 1.7%. Broadridge Financial Solutions’s payout ratio is presently 49.94%.

About Broadridge Financial Solutions

Broadridge Financial Solutions is a global fintech company that provides technology-driven solutions and outsourcing services to the financial services industry. The firm’s core offerings center on investor communications, securities processing and post-trade services, and technology platforms that support capital markets and wealth management operations. Broadridge positions itself as a provider of mission-critical infrastructure that helps financial institutions manage regulatory requirements, investor engagement and operational complexity.

Products and services include proxy and shareholder communications, investor disclosure and digital communications, proxy voting and tabulation, clearing and settlement support, trade processing and reconciliation, and a range of software-as-a-service platforms for wealth and asset managers.