Cetera Investment Advisers Purchases 4,605 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Cetera Investment Advisers grew its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 19.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,285 shares of the business services provider's stock after acquiring an additional 4,605 shares during the period. Cetera Investment Advisers' holdings in Broadridge Financial Solutions were worth $6,395,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Broadridge Financial Solutions by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 14,294,766 shares of the business services provider's stock worth $3,231,904,000 after purchasing an additional 74,674 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Broadridge Financial Solutions by 50.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider's stock worth $804,952,000 after purchasing an additional 1,186,555 shares during the last quarter. Geode Capital Management LLC raised its position in Broadridge Financial Solutions by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 3,037,015 shares of the business services provider's stock worth $684,971,000 after purchasing an additional 37,141 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Broadridge Financial Solutions by 2.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,649,761 shares of the business services provider's stock worth $378,175,000 after purchasing an additional 43,533 shares during the last quarter. Finally, Barclays PLC raised its position in Broadridge Financial Solutions by 2.5% in the 4th quarter. Barclays PLC now owns 1,648,527 shares of the business services provider's stock worth $372,713,000 after purchasing an additional 40,506 shares during the last quarter. Institutional investors own 90.03% of the company's stock.

Insider Buying and Selling

In related news, insider Hope M. Jarkowski sold 1,068 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total value of $251,214.96. Following the completion of the transaction, the insider now directly owns 1,070 shares of the company's stock, valued at approximately $251,685.40. This represents a 49.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Christopher John Perry sold 22,357 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the transaction, the president now owns 52,524 shares of the company's stock, valued at approximately $12,355,220.52. This represents a 29.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,866 shares of company stock valued at $28,216,569. Company insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock opened at $236.88 on Tuesday. 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 $192.68 and a 52 week high of $247.01. The firm has a fifty day moving average of $233.83 and a two-hundred day moving average of $232.15. The stock has a market capitalization of $27.82 billion, a price-to-earnings ratio of 37.07 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter in the prior year, the company earned $2.23 EPS. The firm's quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on BR. 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 report on Monday, February 3rd. DA Davidson restated a "neutral" rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Needham & Company LLC initiated coverage on shares of Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a "buy" rating and a $300.00 target price for the company. StockNews.com upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday. Finally, UBS Group upped their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $250.83.

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.

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