Redmond Asset Management LLC Invests $460,000 in Broadridge Financial Solutions, Inc. (NYSE:BR)

Redmond Asset Management LLC bought a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,033 shares of the business services provider’s stock, valued at approximately $460,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BR. Suncoast Equity Management grew its position in Broadridge Financial Solutions by 3.1% in the fourth quarter. Suncoast Equity Management now owns 25,926 shares of the business services provider’s stock valued at $5,862,000 after acquiring an additional 781 shares in the last quarter. Nicholson Wealth Management Group LLC grew its position in Broadridge Financial Solutions by 47.8% in the fourth quarter. Nicholson Wealth Management Group LLC now owns 6,291 shares of the business services provider’s stock valued at $1,422,000 after acquiring an additional 2,035 shares in the last quarter. Boston Financial Mangement LLC grew its position in Broadridge Financial Solutions by 1.0% in the fourth quarter. Boston Financial Mangement LLC now owns 387,849 shares of the business services provider’s stock valued at $87,689,000 after acquiring an additional 4,003 shares in the last quarter. Concurrent Investment Advisors LLC grew its position in Broadridge Financial Solutions by 13.1% in the fourth quarter. Concurrent Investment Advisors LLC now owns 9,992 shares of the business services provider’s stock valued at $2,259,000 after acquiring an additional 1,154 shares in the last quarter. Finally, Advyzon Investment Management LLC acquired a new stake in Broadridge Financial Solutions in the fourth quarter valued at approximately $214,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Analyst Ratings Changes

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

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $235.31 on Friday. The business’s fifty day moving average price is $232.79 and its 200 day moving average price is $223.40. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $244.47. The stock has a market capitalization of $27.54 billion, a PE ratio of 36.82 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 1.35.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results 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 return on equity of 44.40% and a net margin of 11.36%. During the same period in the previous year, the business earned $0.92 EPS. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

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

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Laura Matlin sold 514 shares of the firm’s stock in a transaction on 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 directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brett Keller sold 5,442 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were 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 $3,734,854.40. This trade represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,666 shares of company stock worth $5,050,766. 1.30% of the stock is owned by insiders.

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.