Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Acquired by IFG Advisory LLC

IFG Advisory LLC grew its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 117.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,892 shares of the business services provider’s stock after purchasing an additional 1,563 shares during the period. IFG Advisory LLC’s holdings in Broadridge Financial Solutions were worth $595,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in shares of Broadridge Financial Solutions during the 3rd quarter worth about $25,000. Headinvest LLC acquired a new stake in Broadridge Financial Solutions during the 3rd quarter valued at approximately $32,000. BKM Wealth Management LLC purchased a new stake in Broadridge Financial Solutions during the 4th quarter worth approximately $37,000. First Command Advisory Services Inc. acquired a new position in shares of Broadridge Financial Solutions in the 3rd quarter valued at approximately $34,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Up 0.5 %

BR stock opened at $204.86 on Friday. The firm’s 50-day moving average is $201.97 and its two-hundred day moving average is $192.28. The company has a market capitalization of $24.13 billion, a price-to-earnings ratio of 35.69 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a 52 week low of $139.35 and a 52 week high of $210.24. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.77.

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

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be paid a $0.80 dividend. The ex-dividend date is Thursday, March 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.56%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.75%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BR shares. Royal Bank of Canada lifted their price target on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley upped their price target on shares of Broadridge Financial Solutions from $175.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, December 8th. Raymond James boosted their target price 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. Finally, Evercore ISI restated an “outperform” rating and issued a $230.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Broadridge Financial Solutions has an average rating of “Hold” and a consensus price target of $203.17.

Insiders Place Their Bets

In related news, insider Douglas Richard Deschutter sold 22,722 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total value of $4,521,678.00. Following the transaction, the insider now owns 44,680 shares in the company, valued at $8,891,320. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Thomas P. Carey sold 12,731 shares of the company’s stock in a transaction dated 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 sale, the vice president now owns 13,303 shares in the company, valued at $2,674,169.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas Richard Deschutter sold 22,722 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the transaction, the insider now owns 44,680 shares in the company, valued at $8,891,320. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,483 shares of company stock valued at $9,745,637. Insiders own 1.60% of the company’s stock.

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.