Northstar Asset Management Inc. Invests $2.75 Million in Broadridge Financial Solutions, Inc. (NYSE:BR)

Northstar Asset Management Inc. purchased a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,165 shares of the business services provider’s stock, valued at approximately $2,750,000.

Other large investors have also recently made changes to their positions in the company. Bogart Wealth LLC lifted its holdings in shares of Broadridge Financial Solutions by 384.0% during the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. True Wealth Design LLC lifted its stake in shares of Broadridge Financial Solutions by 2,028.6% during the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after buying an additional 142 shares in the last quarter. Fortitude Family Office LLC boosted its stake in Broadridge Financial Solutions by 246.7% in the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after purchasing an additional 111 shares during the period. Hazlett Burt & Watson Inc. bought a new position in shares of Broadridge Financial Solutions during the 3rd quarter valued at about $38,000. Finally, FSA Wealth Management LLC purchased a new position in shares of Broadridge Financial Solutions in the third quarter valued at $39,000. 90.03% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Thomas P. Carey sold 15,710 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the completion of the sale, the vice president now owns 12,146 shares in the company, valued at $2,797,466.72. This trade represents a 56.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brett Keller sold 5,442 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the completion of the sale, the director now owns 15,536 shares of the company’s stock, valued at $3,734,854.40. This trade represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,666 shares of company stock worth $5,050,766 over the last three months. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BR shares. DA Davidson reissued a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Morgan Stanley increased their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. UBS Group increased their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada boosted their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $239.17.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $240.40 on Tuesday. The stock has a market capitalization of $28.13 billion, a price-to-earnings ratio of 37.62 and a beta of 1.08. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.39. The firm’s 50 day simple moving average is $232.63 and its 200-day simple moving average is $222.81. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $244.47.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period in the previous year, the firm earned $0.92 earnings per share. Analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.46%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 55.09%.

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.