Meeder Advisory Services Inc. Raises Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Meeder Advisory Services Inc. increased its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 59.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,253 shares of the business services provider’s stock after buying an additional 840 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Broadridge Financial Solutions were worth $464,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. OFI Invest Asset Management purchased a new stake in Broadridge Financial Solutions during the third quarter valued at about $25,000. Headinvest LLC bought a new stake in shares of Broadridge Financial Solutions during the third quarter valued at about $32,000. BKM Wealth Management LLC bought a new stake in shares of Broadridge Financial Solutions during the fourth quarter valued at about $37,000. First Command Advisory Services Inc. bought a new stake in shares of Broadridge Financial Solutions during the third quarter valued at about $34,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Broadridge Financial Solutions during the fourth quarter valued at about $39,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $204.86 on Tuesday. The firm has a market cap of $24.13 billion, a PE ratio of 35.69 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a fifty-two week low of $139.46 and a fifty-two week high of $210.24. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.40 and a current ratio of 1.40. The business has a 50 day moving average price of $201.34 and a 200-day moving average price of $193.14.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Thursday, February 1st. The business services provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.40 billion. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 earnings per share. Equities research analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Thursday, March 14th. Broadridge Financial Solutions’s payout ratio is 55.75%.

Analysts Set New Price Targets

Several research analysts recently weighed in on BR shares. Raymond James upped their price objective on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Evercore ISI reiterated an “outperform” rating and set a $230.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Royal Bank of Canada increased their price target on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Finally, StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, March 27th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Broadridge Financial Solutions currently has a consensus rating of “Hold” and a consensus price target of $203.17.

Insider Buying and Selling

In related news, insider Douglas Richard Deschutter sold 22,722 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now owns 44,680 shares of the company’s stock, valued at $8,891,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 830 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $201.58, for a total transaction of $167,311.40. Following the completion of the transaction, the director now owns 5,445 shares of the company’s stock, valued at $1,097,603.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas Richard Deschutter sold 22,722 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total value of $4,521,678.00. Following the transaction, the insider now directly owns 44,680 shares of the company’s stock, valued at approximately $8,891,320. The disclosure for this sale can be found here. Insiders sold 48,483 shares of company stock valued at $9,745,637 over the last quarter. 1.60% of the stock is owned by company insiders.

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.