Maridea Wealth Management LLC Invests $267,000 in Broadridge Financial Solutions, Inc. (NYSE:BR)

Maridea Wealth Management LLC acquired a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,179 shares of the business services provider’s stock, valued at approximately $267,000.

Several other large investors have also bought and sold shares of BR. True Wealth Design LLC lifted its holdings in Broadridge Financial Solutions by 2,028.6% in the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 142 shares during the last quarter. Fortitude Family Office LLC raised its holdings in shares of Broadridge Financial Solutions by 246.7% in the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after purchasing an additional 111 shares in the last quarter. FSA Wealth Management LLC acquired a new stake in Broadridge Financial Solutions during the third quarter valued at approximately $39,000. Global X Japan Co. Ltd. bought a new stake in Broadridge Financial Solutions during the fourth quarter worth approximately $41,000. Finally, Curio Wealth LLC acquired a new position in Broadridge Financial Solutions in the fourth quarter worth approximately $45,000. Institutional investors own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BR. Royal Bank of Canada increased their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Morgan Stanley increased their price target on 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 boosted their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Broadridge Financial Solutions has an average rating of “Hold” and a consensus price target of $241.00.

Insider Transactions at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 95,956 shares of the business’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 value of $22,590,921.08. Following the completion of the sale, the chief executive officer now owns 169,788 shares of the company’s stock, valued at approximately $39,973,188.84. The trade was a 36.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction of $5,259,037.11. Following the transaction, the president now directly owns 52,524 shares in the company, 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. Over the last ninety days, insiders have sold 124,754 shares of company stock valued at $29,397,793. 1.30% of the stock is owned by insiders.

Broadridge Financial Solutions Stock Down 0.5 %

NYSE:BR opened at $237.60 on Friday. The business’s fifty day moving average price is $236.97 and its 200 day moving average price is $227.66. The firm has a market capitalization of $27.80 billion, a price-to-earnings ratio of 37.18 and a beta of 1.05. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $246.58.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating 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 prior year, the business posted $0.92 EPS. On average, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 55.09%.

Broadridge Financial Solutions Profile

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.