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

Kestra Investment Management LLC bought a new position in Broadridge Financial Solutions, Inc. (NYSE:BR) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 508 shares of the business services provider’s stock, valued at approximately $115,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Broadridge Financial Solutions during the third quarter worth about $44,746,000. Assenagon Asset Management S.A. boosted its stake in Broadridge Financial Solutions by 3,197.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider’s stock worth $43,945,000 after purchasing an additional 198,169 shares during the period. Benjamin Edwards Inc. grew its holdings in Broadridge Financial Solutions by 2,302.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 147,004 shares of the business services provider’s stock valued at $31,618,000 after buying an additional 140,886 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Broadridge Financial Solutions during the 3rd quarter valued at approximately $274,650,000. Finally, BNP Paribas Financial Markets raised its position in shares of Broadridge Financial Solutions by 97.7% during the third quarter. BNP Paribas Financial Markets now owns 198,878 shares of the business services provider’s stock valued at $42,765,000 after buying an additional 98,275 shares during the last quarter. Institutional investors own 90.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday. UBS Group increased their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. DA Davidson reaffirmed a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Morgan Stanley increased their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Finally, Wolfe Research restated 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $239.17.

Insider Transactions at Broadridge Financial Solutions

In other news, VP Laura Matlin sold 514 shares of the 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 directly owns 6,602 shares in the company, valued at approximately $1,595,043.20. This represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Brett Keller sold 5,442 shares of the stock in a transaction 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 completion of the sale, the director now owns 15,536 shares in the company, valued at approximately $3,734,854.40. The trade was a 25.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,666 shares of company stock worth $5,050,766. 1.30% of the stock is currently owned by insiders.

Broadridge Financial Solutions Stock Down 1.2 %

Shares of NYSE:BR opened at $236.14 on Friday. The company has a market cap of $27.63 billion, a price-to-earnings ratio of 36.95 and a beta of 1.08. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $244.47. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The company has a 50-day moving average price of $232.75 and a 200 day moving average price of $223.18.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating 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 last year, the business posted $0.92 earnings per share. As a group, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 55.09%.

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.