Sheaff Brock Investment Advisors LLC Sells 64 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Sheaff Brock Investment Advisors LLC cut its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 31,888 shares of the business services provider’s stock after selling 64 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Broadridge Financial Solutions were worth $7,209,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BR. State Street Corp lifted its stake in shares of Broadridge Financial Solutions by 1.0% in the 3rd quarter. State Street Corp now owns 5,181,715 shares of the business services provider’s stock valued at $1,118,644,000 after acquiring an additional 51,439 shares during the last quarter. Geode Capital Management LLC lifted its position in Broadridge Financial Solutions by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider’s stock valued at $643,018,000 after purchasing an additional 15,208 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Broadridge Financial Solutions by 0.4% during the third quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider’s stock valued at $342,856,000 after purchasing an additional 5,813 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Broadridge Financial Solutions by 2.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider’s stock valued at $194,585,000 after purchasing an additional 20,775 shares during the period. Finally, abrdn plc grew its holdings in shares of Broadridge Financial Solutions by 5.5% in the third quarter. abrdn plc now owns 536,083 shares of the business services provider’s stock worth $114,451,000 after purchasing an additional 27,869 shares during the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. UBS Group upped their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada lifted their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $239.17.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock opened at $240.40 on Friday. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $244.47. The stock’s 50 day simple moving average is $232.49 and its two-hundred day simple moving average is $222.58. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.39 and a current ratio of 1.35. The stock has a market cap of $28.13 billion, a price-to-earnings ratio of 37.62 and a beta of 1.08.

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, beating the consensus estimate 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 quarter last year, the firm earned $0.92 EPS. As a group, analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be paid a $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.46%. Broadridge Financial Solutions’s payout ratio is 55.09%.

Insider Activity at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 15,710 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the sale, the vice president now directly owns 12,146 shares of the company’s stock, valued at approximately $2,797,466.72. This represents a 56.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brett Keller sold 5,442 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 15,536 shares of the company’s stock, valued at $3,734,854.40. The trade was a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,666 shares of company stock valued at $5,050,766 in the last three months. Company 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.