Benjamin Edwards Inc. Acquires 2,532 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Benjamin Edwards Inc. boosted its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 149,536 shares of the business services provider's stock after acquiring an additional 2,532 shares during the period. Benjamin Edwards Inc. owned 0.13% of Broadridge Financial Solutions worth $33,816,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BR. Price T Rowe Associates Inc. MD grew its holdings in shares of Broadridge Financial Solutions by 50.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider's stock valued at $804,952,000 after acquiring an additional 1,186,555 shares in the last quarter. Norges Bank purchased a new stake in Broadridge Financial Solutions during the 4th quarter worth about $106,904,000. Raymond James Financial Inc. bought a new stake in Broadridge Financial Solutions during the 4th quarter worth approximately $104,466,000. Corient Private Wealth LLC increased its holdings in shares of Broadridge Financial Solutions by 882.9% in the fourth quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider's stock worth $99,186,000 after purchasing an additional 392,695 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Broadridge Financial Solutions by 24.4% during the 4th quarter. Northern Trust Corp now owns 1,604,783 shares of the business services provider's stock valued at $362,825,000 after acquiring an additional 314,323 shares during the last quarter. Institutional investors own 90.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BR. Morgan Stanley raised 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. JPMorgan Chase & Co. increased their target price on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Royal Bank of Canada raised their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. Needham & Company LLC started coverage on Broadridge Financial Solutions in a report on Tuesday. They issued a "buy" rating and a $300.00 price objective for the company. Finally, StockNews.com lowered shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a report on Wednesday, April 30th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Broadridge Financial Solutions currently has an average rating of "Hold" and a consensus target price of $250.83.

Insider Buying and Selling

In other news, Director Brett Keller sold 5,442 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total value of $1,308,256.80. Following the sale, the director now directly owns 15,536 shares in the company, valued at approximately $3,734,854.40. This represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy C. Gokey sold 95,956 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the transaction, the chief executive officer now owns 169,788 shares in the company, valued at approximately $39,973,188.84. The trade was a 36.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 124,240 shares of company stock worth $29,273,611. 1.30% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Stock Performance

Shares of BR stock traded up $1.45 during trading hours on Tuesday, reaching $233.63. The company had a trading volume of 532,923 shares, compared to its average volume of 533,688. The business has a fifty day moving average price of $234.32 and a 200-day moving average price of $231.49. The firm has a market cap of $27.34 billion, a PE ratio of 36.56 and a beta of 0.98. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $247.01.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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 previous year, the business posted $2.23 earnings per share. The firm's quarterly revenue was up 5.0% compared to the same quarter last year. Sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Company 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.