Avantax Planning Partners Inc. Increases Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Avantax Planning Partners Inc. raised its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 20.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,155 shares of the business services provider’s stock after purchasing an additional 200 shares during the quarter. Avantax Planning Partners Inc.’s holdings in Broadridge Financial Solutions were worth $261,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Adero Partners LLC grew its stake in Broadridge Financial Solutions by 2.5% during the 4th quarter. Adero Partners LLC now owns 1,837 shares of the business services provider’s stock valued at $415,000 after purchasing an additional 45 shares in the last quarter. Sunburst Financial Group LLC grew its stake in Broadridge Financial Solutions by 4.8% during the 4th quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider’s stock valued at $229,000 after purchasing an additional 46 shares in the last quarter. Avestar Capital LLC grew its stake in Broadridge Financial Solutions by 4.0% during the 3rd quarter. Avestar Capital LLC now owns 1,248 shares of the business services provider’s stock valued at $268,000 after purchasing an additional 48 shares in the last quarter. Foundations Investment Advisors LLC grew its position in shares of Broadridge Financial Solutions by 3.5% in the 4th quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider’s stock worth $345,000 after acquiring an additional 52 shares in the last quarter. Finally, UMB Bank n.a. grew its position in shares of Broadridge Financial Solutions by 5.5% in the 4th quarter. UMB Bank n.a. now owns 1,097 shares of the business services provider’s stock worth $248,000 after acquiring an additional 57 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Transactions at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 22,357 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $235.23, for a total value of $5,259,037.11. Following the sale, the president now owns 52,524 shares of the company’s stock, valued at approximately $12,355,220.52. The trade was a 29.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy C. Gokey sold 95,956 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $235.43, for a total value of $22,590,921.08. Following the sale, the chief executive officer now directly owns 169,788 shares in the company, valued at $39,973,188.84. This trade represents a 36.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 124,754 shares of company stock valued at $29,397,793. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. DA Davidson reiterated a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. JPMorgan Chase & Co. lifted their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada lifted their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Broadridge Financial Solutions has a consensus rating of “Hold” and a consensus price target of $239.17.

Broadridge Financial Solutions Trading Down 0.7 %

NYSE:BR opened at $224.73 on Thursday. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $246.58. The firm has a market capitalization of $26.30 billion, a P/E ratio of 35.17 and a beta of 1.05. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The business has a 50 day simple moving average of $235.46 and a 200 day simple moving average of $225.77.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the company posted $0.92 EPS. Equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is presently 55.09%.

Broadridge Financial Solutions 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.