AdvisorShares Investments LLC Buys 4,394 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

AdvisorShares Investments LLC raised its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 15.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,620 shares of the business services provider's stock after buying an additional 4,394 shares during the period. Broadridge Financial Solutions comprises 1.5% of AdvisorShares Investments LLC's holdings, making the stock its 6th biggest holding. AdvisorShares Investments LLC's holdings in Broadridge Financial Solutions were worth $7,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in BR. Curio Wealth LLC purchased a new position in Broadridge Financial Solutions during the 4th quarter valued at about $45,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Broadridge Financial Solutions by 53.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider's stock valued at $2,434,000 after purchasing an additional 3,753 shares in the last quarter. Miracle Mile Advisors LLC increased its holdings in Broadridge Financial Solutions by 98.0% during the fourth quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider's stock valued at $550,000 after buying an additional 1,204 shares during the period. Park Place Capital Corp raised its stake in Broadridge Financial Solutions by 31.3% in the fourth quarter. Park Place Capital Corp now owns 5,831 shares of the business services provider's stock worth $1,318,000 after buying an additional 1,391 shares in the last quarter. Finally, Crown Oak Advisors LLC lifted its holdings in Broadridge Financial Solutions by 10.8% during the fourth quarter. Crown Oak Advisors LLC now owns 36,376 shares of the business services provider's stock worth $8,224,000 after buying an additional 3,553 shares during the period. 90.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BR has been the subject of several recent research reports. UBS Group boosted their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Royal Bank of Canada boosted their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. DA Davidson restated a "neutral" rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Morgan Stanley lifted their price objective on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an "equal weight" rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Broadridge Financial Solutions presently has a consensus rating of "Hold" and a consensus target price of $241.00.

Insider Buying and Selling

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of the company'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 sale, the chief executive officer now owns 169,788 shares in the company, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the transaction, the vice president now directly owns 6,602 shares of the company's stock, valued at approximately $1,595,043.20. This trade represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 124,754 shares of company stock worth $29,397,793. 1.30% of the stock is owned by company insiders.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock traded up $4.82 during mid-day trading on Friday, reaching $232.83. 599,949 shares of the company traded hands, compared to its average volume of 532,569. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $247.01. The firm's fifty day moving average is $234.48 and its two-hundred day moving average is $231.29. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market capitalization of $27.25 billion, a price-to-earnings ratio of 36.44 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.41 by $0.03. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The firm's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $2.23 EPS. On average, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 13th were given a $0.88 dividend. The ex-dividend date was Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.51%. Broadridge Financial Solutions's dividend payout ratio is currently 52.93%.

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.