Kestra Investment Management LLC Purchases New Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Kestra Investment Management LLC acquired a new position in Broadridge Financial Solutions, Inc. (NYSE:BR) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 508 shares of the business services provider’s stock, valued at approximately $115,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Adero Partners LLC grew its position in shares of Broadridge Financial Solutions by 2.5% during the 4th quarter. Adero Partners LLC now owns 1,837 shares of the business services provider’s stock worth $415,000 after buying an additional 45 shares in the last quarter. Sunburst Financial Group LLC grew its holdings in Broadridge Financial Solutions by 4.8% during the 4th quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider’s stock worth $229,000 after acquiring an additional 46 shares in the last quarter. Avestar Capital LLC grew its holdings in Broadridge Financial Solutions by 4.0% during the 3rd quarter. Avestar Capital LLC now owns 1,248 shares of the business services provider’s stock worth $268,000 after acquiring an additional 48 shares in the last quarter. Foundations Investment Advisors LLC raised its holdings in shares of Broadridge Financial Solutions by 3.5% in the 4th quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider’s stock valued at $345,000 after purchasing an additional 52 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Broadridge Financial Solutions by 5.5% in the 4th quarter. UMB Bank n.a. now owns 1,097 shares of the business services provider’s stock worth $248,000 after purchasing an additional 57 shares during the period. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Trading Down 1.2 %

BR stock opened at $236.14 on Friday. Broadridge Financial Solutions, Inc. has a 52-week low of $188.30 and a 52-week high of $244.47. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The firm has a market cap of $27.63 billion, a P/E ratio of 36.95 and a beta of 1.08. The company’s 50-day simple moving average is $232.75 and its 200-day simple moving average is $223.18.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates 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 previous year, the business posted $0.92 earnings per share. As a group, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be paid 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 yield of 1.49%. Broadridge Financial Solutions’s dividend payout ratio is currently 55.09%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Wednesday. DA Davidson reaffirmed a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. UBS Group raised their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Morgan Stanley raised their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Finally, Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $239.17.

Insider Buying and Selling

In other news, VP Thomas P. Carey sold 15,710 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the transaction, the vice president now 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brett Keller sold 5,442 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 15,536 shares of the company’s stock, valued at $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 quarter, insiders sold 21,666 shares of company stock valued at $5,050,766. 1.30% of the stock is 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.