Focus Partners Wealth Grows Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Focus Partners Wealth increased its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 113.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,772 shares of the business services provider's stock after buying an additional 83,299 shares during the period. Focus Partners Wealth owned 0.13% of Broadridge Financial Solutions worth $35,522,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BR. Principal Financial Group Inc. grew its holdings in shares of Broadridge Financial Solutions by 4.3% during the third 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. Fortitude Family Office LLC grew its holdings in shares of Broadridge Financial Solutions by 246.7% during the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider's stock valued at $35,000 after buying an additional 111 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Broadridge Financial Solutions by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,626 shares of the business services provider's stock valued at $4,220,000 after buying an additional 233 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Broadridge Financial Solutions by 1.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 9,544 shares of the business services provider's stock valued at $2,158,000 after buying an additional 158 shares during the last quarter. Finally, Czech National Bank boosted its holdings in Broadridge Financial Solutions by 6.6% in the fourth quarter. Czech National Bank now owns 25,344 shares of the business services provider's stock worth $5,730,000 after purchasing an additional 1,570 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company's stock.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, President Christopher John Perry sold 22,357 shares of Broadridge Financial Solutions stock in a transaction on Friday, March 7th. The shares were sold at an average price of $235.23, for a total value of $5,259,037.11. Following the completion of the transaction, the president now directly owns 52,524 shares of the company's stock, valued at $12,355,220.52. This trade represents a 29.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Thomas P. Carey sold 3,607 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $237.26, for a total transaction of $855,796.82. Following the completion of the transaction, the vice president now directly owns 6,077 shares of the company's stock, valued at $1,441,829.02. The trade was a 37.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 123,473 shares of company stock worth $29,072,366. Insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Price Performance

Shares of BR stock traded up $0.37 on Wednesday, hitting $237.68. 511,461 shares of the stock traded hands, compared to its average volume of 532,614. The firm has a market cap of $27.92 billion, a price-to-earnings ratio of 37.20 and a beta of 0.98. Broadridge Financial Solutions, Inc. has a 52 week low of $192.68 and a 52 week high of $247.01. The firm has a 50 day simple moving average of $233.76 and a two-hundred day simple moving average of $232.23. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, beating the consensus estimate of $2.41 by $0.03. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The company's revenue was up 5.0% on a year-over-year basis. During the same period last year, the firm earned $2.23 EPS. As a group, equities research analysts predict 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 Wednesday, July 2nd. Shareholders of record on Thursday, June 12th will be issued a $0.88 dividend. The ex-dividend date is Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a yield of 1.48%. Broadridge Financial Solutions's dividend payout ratio is currently 52.93%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised 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. Needham & Company LLC assumed coverage on shares of Broadridge Financial Solutions in a report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 target price on the stock. DA Davidson restated a "neutral" rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Morgan Stanley raised their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an "equal weight" rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada lifted their price target 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. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $250.83.

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.