6,858 Shares in Broadridge Financial Solutions, Inc. (NYSE:BR) Acquired by RWA Wealth Partners LLC

RWA Wealth Partners LLC acquired a new position in Broadridge Financial Solutions, Inc. (NYSE:BR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,858 shares of the business services provider’s stock, valued at approximately $1,411,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of BR. Stifel Financial Corp lifted its holdings in shares of Broadridge Financial Solutions by 1,700.7% during the 3rd quarter. Stifel Financial Corp now owns 1,542,507 shares of the business services provider’s stock valued at $276,194,000 after purchasing an additional 1,456,847 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Broadridge Financial Solutions by 124.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 687,830 shares of the business services provider’s stock worth $123,156,000 after acquiring an additional 381,882 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Broadridge Financial Solutions in the 4th quarter worth $227,750,000. Assenagon Asset Management S.A. grew its position in Broadridge Financial Solutions by 1,865.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 93,363 shares of the business services provider’s stock worth $19,209,000 after purchasing an additional 88,613 shares during the period. Finally, HighTower Advisors LLC grew its position in Broadridge Financial Solutions by 307.8% during the 3rd quarter. HighTower Advisors LLC now owns 110,691 shares of the business services provider’s stock worth $19,833,000 after purchasing an additional 83,546 shares during the period. Institutional investors own 90.03% of the company’s stock.

Analyst Upgrades and Downgrades

BR has been the topic of several analyst reports. Royal Bank of Canada increased their price target on Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Raymond James increased their price target on Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. DA Davidson reaffirmed a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Finally, Evercore ISI restated an “outperform” rating and set a $230.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $206.67.

Broadridge Financial Solutions Trading Up 0.9 %

BR stock opened at $195.91 on Wednesday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.77. Broadridge Financial Solutions, Inc. has a 12-month low of $139.52 and a 12-month high of $210.24. The stock has a market cap of $23.07 billion, a price-to-earnings ratio of 34.13 and a beta of 0.99. The business’s 50-day moving average is $200.70 and its 200 day moving average is $194.45.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, February 1st. The business services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the firm posted $0.91 EPS. Broadridge Financial Solutions’s revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 55.75%.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 12,200 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $204.71, for a total value of $2,497,462.00. Following the transaction, the insider now directly owns 32,480 shares of the company’s stock, valued at approximately $6,648,980.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Douglas Richard Deschutter sold 12,200 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the sale, the insider now owns 32,480 shares of the company’s stock, valued at approximately $6,648,980.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Thomas P. Carey sold 12,731 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the sale, the vice president now directly owns 13,303 shares in the company, valued at approximately $2,674,169.06. The disclosure for this sale can be found here. Insiders have sold 48,483 shares of company stock valued at $9,745,637 in the last ninety days. 1.60% of the stock is currently owned by corporate 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.