Ieq Capital LLC Raises Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Ieq Capital LLC lifted its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 48.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 11,991 shares of the business services provider’s stock after buying an additional 3,910 shares during the period. Ieq Capital LLC’s holdings in Broadridge Financial Solutions were worth $2,711,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BR. Bogart Wealth LLC grew its holdings in Broadridge Financial Solutions by 384.0% during the 3rd 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 boosted its position in shares of Broadridge Financial Solutions by 2,028.6% during the third 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 during the period. Fortitude Family Office LLC grew its stake in shares of Broadridge Financial Solutions by 246.7% during the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after buying an additional 111 shares during the last quarter. Hazlett Burt & Watson Inc. purchased a new stake in shares of Broadridge Financial Solutions in the third quarter worth approximately $38,000. Finally, Global X Japan Co. Ltd. purchased a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth approximately $41,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Down 0.4 %

Shares of Broadridge Financial Solutions stock opened at $235.31 on Friday. 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 stock has a market cap of $27.54 billion, a price-to-earnings ratio of 36.82 and a beta of 1.08. The firm’s 50-day moving average is $232.79 and its two-hundred day moving average is $223.40. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $244.47.

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

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.50%. Broadridge Financial Solutions’s dividend payout ratio is presently 55.09%.

Analyst Upgrades and Downgrades

BR has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. DA Davidson reiterated a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Royal Bank of Canada raised their target price on shares of 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 research 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, the company has a consensus rating of “Hold” and a consensus target price of $239.17.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions 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 value of $3,618,327.20. Following the completion of the sale, the vice president now directly owns 12,146 shares in the company, valued at $2,797,466.72. This trade represents a 56.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brett Keller sold 5,442 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total value of $1,308,256.80. Following the transaction, the director now directly owns 15,536 shares in the company, valued at approximately $3,734,854.40. The trade was a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 21,666 shares of company stock valued at $5,050,766. Corporate insiders own 1.30% of the company’s stock.

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.