Trust Point Inc. Invests $420,000 in Broadridge Financial Solutions, Inc. (NYSE:BR)

Trust Point Inc. bought a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,859 shares of the business services provider’s stock, valued at approximately $420,000.

Other hedge funds have also added to or reduced their stakes in the company. Bogart Wealth LLC boosted its holdings in Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. True Wealth Design LLC boosted its holdings in Broadridge Financial Solutions by 2,028.6% in the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 142 shares during the last quarter. Fortitude Family Office LLC boosted its holdings 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 valued at $35,000 after acquiring an additional 111 shares during the last quarter. Hazlett Burt & Watson Inc. bought a new position in Broadridge Financial Solutions in the third quarter valued at about $38,000. Finally, FSA Wealth Management LLC bought a new position in Broadridge Financial Solutions in the third quarter valued at about $39,000. Institutional investors own 90.03% of the company’s stock.

Insider Transactions at Broadridge Financial Solutions

In related news, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction that occurred 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 sale, the vice president now owns 6,602 shares of the company’s stock, valued at approximately $1,595,043.20. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas P. Carey sold 10,757 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $226.82, for a total value of $2,439,902.74. Following the completion of the sale, the vice president now directly owns 12,689 shares in the company, valued at approximately $2,878,118.98. This represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,861 shares of company stock valued at $7,063,250 over the last 90 days. 1.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

BR has been the topic of several recent research reports. JPMorgan Chase & Co. raised 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. DA Davidson reiterated a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. UBS Group increased their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, Morgan Stanley increased their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Broadridge Financial Solutions has a consensus rating of “Hold” and a consensus target price of $239.17.

Broadridge Financial Solutions Trading Down 0.2 %

NYSE BR opened at $240.11 on Thursday. The firm has a market cap of $28.07 billion, a P/E ratio of 37.58 and a beta of 1.08. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.39. The stock’s 50-day moving average is $231.55 and its 200-day moving average is $220.97. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $242.39.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results 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 return on equity of 44.40% and a net margin of 11.36%. During the same quarter last year, the company earned $0.92 EPS. Sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.55 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 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.