Stifel Financial Corp Raises Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Stifel Financial Corp increased its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,615,131 shares of the business services provider’s stock after acquiring an additional 20,716 shares during the period. Stifel Financial Corp owned approximately 1.38% of Broadridge Financial Solutions worth $365,177,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fortitude Family Office LLC lifted its stake in Broadridge Financial Solutions by 246.7% in the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after acquiring an additional 111 shares during the last quarter. Global X Japan Co. Ltd. acquired a new stake in Broadridge Financial Solutions in the fourth quarter valued at $41,000. Curio Wealth LLC purchased a new stake in Broadridge Financial Solutions during the 4th quarter worth about $45,000. Salem Investment Counselors Inc. boosted its position in shares of Broadridge Financial Solutions by 200.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 225 shares of the business services provider’s stock worth $51,000 after acquiring an additional 150 shares in the last quarter. Finally, Promus Capital LLC purchased a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at about $52,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. DA Davidson reaffirmed a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Royal Bank of Canada upped their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. UBS Group lifted their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley raised their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadridge Financial Solutions has an average rating of “Hold” and an average target price of $241.00.

Insider Activity

In related news, CEO Timothy C. Gokey sold 95,956 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $235.43, for a total value of $22,590,921.08. Following the completion of the sale, the chief executive officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Laura Matlin sold 514 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total transaction of $124,182.40. Following the transaction, the vice president now owns 6,602 shares in the company, valued at $1,595,043.20. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,754 shares of company stock valued at $29,397,793 in the last three months. 1.30% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Trading Up 0.3 %

NYSE:BR opened at $236.00 on Monday. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $247.01. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock’s 50 day simple moving average is $235.11 and its 200-day simple moving average is $230.19. The firm has a market cap of $27.62 billion, a P/E ratio of 36.93 and a beta of 1.06.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, topping 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 company posted $0.92 earnings per share. Equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is 55.09%.

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.