Cerity Partners LLC Purchases 2,395 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Cerity Partners LLC grew its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 40.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,289 shares of the business services provider’s stock after acquiring an additional 2,395 shares during the period. Cerity Partners LLC’s holdings in Broadridge Financial Solutions were worth $1,706,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Broadridge Financial Solutions by 0.8% during the first quarter. Vanguard Group Inc. now owns 13,714,442 shares of the business services provider’s stock valued at $2,135,476,000 after acquiring an additional 108,223 shares in the last quarter. Morgan Stanley raised its stake in Broadridge Financial Solutions by 41.0% in the fourth quarter. Morgan Stanley now owns 7,043,656 shares of the business services provider’s stock worth $944,766,000 after buying an additional 2,048,184 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Broadridge Financial Solutions by 2.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,488,037 shares of the business services provider’s stock worth $511,243,000 after buying an additional 96,566 shares in the last quarter. Geode Capital Management LLC raised its stake in Broadridge Financial Solutions by 1.5% in the first quarter. Geode Capital Management LLC now owns 2,519,784 shares of the business services provider’s stock worth $368,593,000 after buying an additional 37,989 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its stake in Broadridge Financial Solutions by 85.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,230,810 shares of the business services provider’s stock worth $299,219,000 after buying an additional 1,025,907 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BR. Royal Bank of Canada boosted their price objective 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. DA Davidson reissued a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th. Raymond James boosted 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 note on Friday, February 2nd. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $230.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $206.67.

Insider Activity

In other news, Director Robert N. Duelks sold 830 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $201.58, for a total transaction of $167,311.40. Following the sale, the director now directly owns 5,445 shares of the company’s stock, valued at $1,097,603.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Robert N. Duelks sold 830 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $201.58, for a total transaction of $167,311.40. Following the sale, the director now directly owns 5,445 shares of the company’s stock, valued at $1,097,603.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Douglas Richard Deschutter sold 22,722 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were 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 of the company’s stock, valued at $8,891,320. The disclosure for this sale can be found here. Insiders have sold 48,483 shares of company stock valued at $9,745,637 over the last ninety days. 1.60% of the stock is currently owned by insiders.

Broadridge Financial Solutions Price Performance

NYSE BR opened at $193.38 on Friday. The firm’s fifty day simple moving average is $200.73 and its two-hundred day simple moving average is $194.00. 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, Inc. has a 12-month low of $139.52 and a 12-month high of $210.24. The firm has a market capitalization of $22.77 billion, a P/E ratio of 33.69 and a beta of 0.99.

Broadridge Financial Solutions (NYSE:BR) last announced 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 for the quarter, compared to analyst estimates of $1.40 billion. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 earnings per share. Analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.75%.

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.