Avantax Advisory Services Inc. Has $2.54 Million Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Avantax Advisory Services Inc. decreased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,211 shares of the business services provider’s stock after selling 104 shares during the period. Avantax Advisory Services Inc.’s holdings in Broadridge Financial Solutions were worth $2,535,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in Broadridge Financial Solutions by 9.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 722 shares of the business services provider’s stock worth $163,000 after acquiring an additional 64 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at about $238,000. HighTower Advisors LLC raised its position in shares of Broadridge Financial Solutions by 1.6% during the fourth quarter. HighTower Advisors LLC now owns 121,742 shares of the business services provider’s stock valued at $27,525,000 after buying an additional 1,881 shares during the last quarter. AGF Management Ltd. acquired a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at about $2,513,000. Finally, Avantax Planning Partners Inc. raised its position in shares of Broadridge Financial Solutions by 20.9% during the fourth quarter. Avantax Planning Partners Inc. now owns 1,155 shares of the business services provider’s stock valued at $261,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robert N. Duelks sold 485 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $237.93, for a total transaction of $115,396.05. Following the sale, the director now directly owns 4,960 shares of the company’s stock, valued at $1,180,132.80. This represents a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the sale, the chief executive officer now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 124,754 shares of company stock valued at $29,397,793. 1.30% of the stock is currently owned by insiders.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $227.76 on Monday. 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 capitalization of $26.65 billion, a PE ratio of 35.64 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $246.58. The firm has a 50-day moving average price of $235.40 and a 200 day moving average price of $226.11.

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

Broadridge Financial Solutions Dividend Announcement

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 paid a dividend of $0.88 per share. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a yield of 1.55%. Broadridge Financial Solutions’s dividend payout ratio is 55.09%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BR. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Morgan Stanley upped their price objective on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. UBS Group increased 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. Finally, Royal Bank of Canada increased their price target on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Hold” and a consensus price target of $239.17.

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.