Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Bought by Atlas Private Wealth Management

Atlas Private Wealth Management raised its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,219 shares of the business services provider’s stock after acquiring an additional 301 shares during the quarter. Broadridge Financial Solutions comprises about 1.1% of Atlas Private Wealth Management’s portfolio, making the stock its 29th biggest holding. Atlas Private Wealth Management’s holdings in Broadridge Financial Solutions were worth $2,308,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BR. Morgan Stanley boosted its holdings in Broadridge Financial Solutions by 41.0% in the 4th quarter. Morgan Stanley now owns 7,043,656 shares of the business services provider’s stock worth $944,766,000 after buying an additional 2,048,184 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Broadridge Financial Solutions by 1,700.7% during the 3rd quarter. Stifel Financial Corp now owns 1,542,507 shares of the business services provider’s stock worth $276,194,000 after purchasing an additional 1,456,847 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Broadridge Financial Solutions by 85.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,230,810 shares of the business services provider’s stock worth $299,219,000 after purchasing an additional 1,025,907 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Broadridge Financial Solutions by 86.6% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,195,313 shares of the business services provider’s stock worth $186,122,000 after purchasing an additional 554,807 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Broadridge Financial Solutions by 124.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 687,830 shares of the business services provider’s stock worth $123,156,000 after purchasing an additional 381,882 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BR shares. Raymond James boosted their target price on Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Morgan Stanley boosted their target price on Broadridge Financial Solutions from $175.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, December 8th. Royal Bank of Canada boosted their target price on Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $230.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Broadridge Financial Solutions has a consensus rating of “Hold” and an average price target of $203.17.

Broadridge Financial Solutions Trading Up 0.5 %

Shares of BR stock traded up $1.02 during trading on Friday, hitting $204.86. 368,236 shares of the stock traded hands, compared to its average volume of 407,906. The firm has a market capitalization of $24.13 billion, a P/E ratio of 35.69 and a beta of 0.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.40 and a quick ratio of 1.40. The firm’s fifty day moving average price is $201.97 and its 200-day moving average price is $192.41. Broadridge Financial Solutions, Inc. has a 52-week low of $139.35 and a 52-week high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 earnings per share. As a group, research analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Friday, March 15th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, March 14th. Broadridge Financial Solutions’s payout ratio is 55.75%.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 22,722 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total value of $4,521,678.00. Following the sale, the insider now owns 44,680 shares of the company’s stock, valued at $8,891,320. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 830 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $201.58, for a total value of $167,311.40. Following the completion of the transaction, the director now owns 5,445 shares in the company, valued at $1,097,603.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Douglas Richard Deschutter sold 22,722 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the completion of the transaction, the insider now owns 44,680 shares of the company’s stock, valued at approximately $8,891,320. The disclosure for this sale can be found here. Insiders have sold a total of 48,483 shares of company stock valued at $9,745,637 over the last quarter. 1.60% of the stock is owned by company insiders.

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.