Envestnet Portfolio Solutions Inc. Has $4.93 Million Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Envestnet Portfolio Solutions Inc. reduced its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,814 shares of the business services provider’s stock after selling 297 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Broadridge Financial Solutions were worth $4,932,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC grew its position in 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 worth $32,000 after buying an additional 142 shares in the last quarter. Fortitude Family Office LLC grew its position in 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 worth $35,000 after buying an additional 111 shares in the last quarter. FSA Wealth Management LLC acquired a new stake in Broadridge Financial Solutions during the third quarter worth about $39,000. Global X Japan Co. Ltd. acquired a new stake in Broadridge Financial Solutions during the fourth quarter worth about $41,000. Finally, Truvestments Capital LLC acquired a new stake in Broadridge Financial Solutions during the third quarter worth about $45,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Down 0.2 %

Shares of BR opened at $231.11 on Wednesday. The company has a market capitalization of $27.04 billion, a P/E ratio of 36.17 and a beta of 1.05. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $246.58. The business’s 50 day simple moving average is $235.61 and its 200-day simple moving average is $226.37.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, topping the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period in the prior year, the company posted $0.92 EPS. As a group, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is 55.09%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BR. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. 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. JPMorgan Chase & Co. lifted their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Finally, Morgan Stanley lifted their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Hold” and a consensus target price of $239.17.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, 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 transaction of $1,308,256.80. Following the transaction, the director now owns 15,536 shares of the company’s stock, valued at approximately $3,734,854.40. This represents a 25.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Laura Matlin sold 514 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the transaction, the vice president now directly owns 6,602 shares in the company, valued at approximately $1,595,043.20. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 124,754 shares of company stock valued at $29,397,793. 1.30% of the stock is currently owned by corporate insiders.

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.