Concord Wealth Partners Has $37,000 Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Concord Wealth Partners lowered its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 72.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 178 shares of the business services provider’s stock after selling 479 shares during the quarter. Concord Wealth Partners’ holdings in Broadridge Financial Solutions were worth $37,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BR. Procyon Advisors LLC boosted its position in Broadridge Financial Solutions by 2.3% during the 4th quarter. Procyon Advisors LLC now owns 2,319 shares of the business services provider’s stock worth $477,000 after acquiring an additional 52 shares during the period. Optas LLC lifted its position in shares of Broadridge Financial Solutions by 3.8% in the fourth quarter. Optas LLC now owns 1,565 shares of the business services provider’s stock worth $322,000 after purchasing an additional 57 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Broadridge Financial Solutions by 3.8% during the fourth quarter. Signaturefd LLC now owns 1,596 shares of the business services provider’s stock worth $328,000 after purchasing an additional 58 shares during the period. Teamwork Financial Advisors LLC grew its position in Broadridge Financial Solutions by 1.6% during the fourth quarter. Teamwork Financial Advisors LLC now owns 4,090 shares of the business services provider’s stock valued at $841,000 after purchasing an additional 63 shares in the last quarter. Finally, Tributary Capital Management LLC grew its position in Broadridge Financial Solutions by 1.6% during the fourth quarter. Tributary Capital Management LLC now owns 4,372 shares of the business services provider’s stock valued at $900,000 after purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on BR. Royal Bank of Canada upped their target price on Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Evercore ISI reissued an “outperform” rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Raymond James lifted their price objective on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday. Finally, DA Davidson reissued a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $206.67.

Insiders Place Their Bets

In related news, VP Thomas P. Carey sold 12,731 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total value of $2,559,185.62. Following the completion of the sale, the vice president now directly owns 13,303 shares in the company, valued at $2,674,169.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Douglas Richard Deschutter sold 22,722 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were 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 in the company, valued at $8,891,320. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas P. Carey sold 12,731 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the completion of the sale, the vice president now owns 13,303 shares in the company, valued at $2,674,169.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,483 shares of company stock valued at $9,745,637. 1.60% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Trading Up 1.8 %

Shares of Broadridge Financial Solutions stock opened at $198.95 on Friday. The company’s fifty day moving average price is $200.27 and its two-hundred day moving average price is $195.07. The firm has a market capitalization of $23.43 billion, a PE ratio of 34.66 and a beta of 0.98. Broadridge Financial Solutions, Inc. has a 52-week low of $144.54 and a 52-week high of $210.24. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.40 and a quick ratio of 1.40.

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

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.75%.

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.