Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Acquired by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC increased its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 5.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,994 shares of the business services provider’s stock after purchasing an additional 110 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Broadridge Financial Solutions were worth $429,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tidal Investments LLC increased its position in Broadridge Financial Solutions by 99.6% during the first quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider’s stock worth $3,627,000 after purchasing an additional 8,837 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Broadridge Financial Solutions by 5.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 55,494 shares of the business services provider’s stock worth $11,329,000 after buying an additional 2,685 shares during the last quarter. Atria Investments Inc raised its stake in shares of Broadridge Financial Solutions by 9.7% in the 3rd quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock valued at $6,373,000 after purchasing an additional 2,610 shares in the last quarter. BDF Gestion acquired a new stake in Broadridge Financial Solutions during the second quarter valued at approximately $3,954,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Broadridge Financial Solutions by 22.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,504 shares of the business services provider’s stock valued at $7,191,000 after acquiring an additional 6,690 shares in the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Thomas P. Carey sold 10,757 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the completion of the transaction, the vice president now owns 12,689 shares of the company’s stock, valued at approximately $2,878,118.98. This represents a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Maura A. Markus sold 3,880 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $227.02, for a total value of $880,837.60. Following the transaction, the director now owns 27,788 shares in the company, valued at $6,308,431.76. This represents a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 84,033 shares of company stock valued at $18,149,572. Insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Trading Up 1.2 %

Shares of NYSE BR opened at $230.24 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. The stock has a market cap of $26.91 billion, a price-to-earnings ratio of 39.83 and a beta of 1.05. The business has a 50 day simple moving average of $217.48 and a 200 day simple moving average of $209.14. Broadridge Financial Solutions, Inc. has a 52 week low of $185.30 and a 52 week high of $230.30.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the firm earned $1.09 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. On average, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued 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 is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 60.90%.

Wall Street Analyst Weigh In

BR has been the subject of a number of research reports. Royal Bank of Canada restated an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upped their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Morgan Stanley raised their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, UBS Group initiated coverage on shares of Broadridge Financial Solutions in a research report on Thursday. They set a “neutral” rating and a $250.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $222.43.

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.