Tradition Wealth Management LLC Buys New Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Tradition Wealth Management LLC acquired a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,011 shares of the business services provider’s stock, valued at approximately $217,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Atria Investments Inc grew its holdings in Broadridge Financial Solutions by 9.7% during the third quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock worth $6,373,000 after acquiring an additional 2,610 shares during the period. BDF Gestion purchased a new position in shares of Broadridge Financial Solutions during the 2nd quarter worth about $3,954,000. Qsemble Capital Management LP purchased a new position in Broadridge Financial Solutions during the third quarter worth approximately $1,412,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Broadridge Financial Solutions by 22.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,504 shares of the business services provider’s stock worth $7,191,000 after buying an additional 6,690 shares during the period. Finally, Horizon Kinetics Asset Management LLC acquired a new position in shares of Broadridge Financial Solutions in the 3rd quarter valued at about $483,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Down 0.7 %

BR stock opened at $234.32 on Tuesday. The company has a market capitalization of $27.39 billion, a price-to-earnings ratio of 40.54 and a beta of 1.05. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $237.74. The firm’s 50-day moving average is $220.06 and its two-hundred day moving average is $210.60.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. Broadridge Financial Solutions’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company earned $1.09 EPS. On average, analysts forecast that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.90%.

Analyst Ratings Changes

BR has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Royal Bank of Canada reissued an “outperform” rating and set a $246.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Morgan Stanley boosted their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. UBS Group started coverage on shares of Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a “neutral” rating and a $250.00 price objective for the company. Finally, StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $222.43.

Insider Activity

In other Broadridge Financial Solutions news, Chairman Richard J. Daly sold 21,938 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the completion of the sale, the chairman now directly owns 105,094 shares in the company, valued at approximately $21,823,820.04. This trade represents a 17.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Christopher John Perry sold 17,534 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total value of $3,741,930.94. Following the sale, the president now directly owns 50,237 shares of the company’s stock, valued at approximately $10,721,078.17. The trade was a 25.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 78,294 shares of company stock valued at $16,944,095 over the last three months. Insiders own 1.30% of the company’s stock.

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.