Integrated Wealth Concepts LLC Has $6.68 Million Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Integrated Wealth Concepts LLC lifted its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 18.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,541 shares of the business services provider's stock after purchasing an additional 4,591 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Broadridge Financial Solutions were worth $6,679,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. World Investment Advisors LLC lifted its position in Broadridge Financial Solutions by 10.9% in the 3rd quarter. World Investment Advisors LLC now owns 4,229 shares of the business services provider's stock valued at $909,000 after acquiring an additional 416 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Broadridge Financial Solutions in the 3rd quarter valued at $3,530,000. Tidal Investments LLC increased its stake in Broadridge Financial Solutions by 43.7% in the 3rd quarter. Tidal Investments LLC now owns 15,300 shares of the business services provider's stock valued at $3,290,000 after buying an additional 4,654 shares during the last quarter. American Trust acquired a new stake in Broadridge Financial Solutions in the 3rd quarter valued at $2,233,000. Finally, Principal Financial Group Inc. increased its stake in Broadridge Financial Solutions by 4.3% in the 3rd quarter. Principal Financial Group Inc. now owns 157,645 shares of the business services provider's stock valued at $33,898,000 after buying an additional 6,552 shares during the last quarter. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Stock Performance

Shares of NYSE BR traded down $12.66 during trading hours on Thursday, reaching $229.74. 504,723 shares of the stock were exchanged, compared to its average volume of 528,604. The firm has a market capitalization of $26.88 billion, a price-to-earnings ratio of 35.93 and a beta of 1.06. 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 52 week low of $188.30 and a 52 week high of $247.01. The stock's fifty day simple moving average is $234.71 and its 200 day simple moving average is $231.08.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly 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 business had revenue of $1.81 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.23 earnings per share. Sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 13th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Thursday, March 13th. Broadridge Financial Solutions's dividend payout ratio is currently 55.09%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of the firm's stock in a transaction 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 of the company's stock, valued at approximately $39,973,188.84. This trade represents a 36.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 sale, the director now directly owns 15,536 shares in the company, valued at approximately $3,734,854.40. This trade represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 124,754 shares of company stock valued at $29,397,793 over the last 90 days. 1.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BR has been the topic of several recent research reports. UBS Group lifted their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Royal Bank of Canada boosted their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. StockNews.com lowered shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research note on Wednesday. Finally, DA Davidson restated a "neutral" rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of "Hold" and an average target price of $241.00.

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.