RWA Wealth Partners LLC Invests $1.41 Million in Broadridge Financial Solutions, Inc. (NYSE:BR)

RWA Wealth Partners LLC bought a new position in Broadridge Financial Solutions, Inc. (NYSE:BR) during the 4th quarter, HoldingsChannel.com reports. The fund bought 6,858 shares of the business services provider’s stock, valued at approximately $1,411,000.

Other institutional investors have also made changes to their positions in the company. CWM LLC grew its position in Broadridge Financial Solutions by 6.4% during the third quarter. CWM LLC now owns 5,217 shares of the business services provider’s stock valued at $934,000 after purchasing an additional 316 shares in the last quarter. AE Wealth Management LLC grew its position in Broadridge Financial Solutions by 1.8% during the third quarter. AE Wealth Management LLC now owns 7,436 shares of the business services provider’s stock valued at $1,331,000 after purchasing an additional 130 shares in the last quarter. IFP Advisors Inc lifted its stake in Broadridge Financial Solutions by 33.5% in the third quarter. IFP Advisors Inc now owns 550 shares of the business services provider’s stock valued at $98,000 after acquiring an additional 138 shares during the last quarter. HB Wealth Management LLC lifted its stake in Broadridge Financial Solutions by 24.9% in the third quarter. HB Wealth Management LLC now owns 1,716 shares of the business services provider’s stock valued at $307,000 after acquiring an additional 342 shares during the last quarter. Finally, DAVENPORT & Co LLC acquired a new stake in Broadridge Financial Solutions in the third quarter valued at approximately $210,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 22,722 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total value of $4,521,678.00. Following the sale, the insider now owns 44,680 shares of the company’s stock, valued at approximately $8,891,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 22,722 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total value of $4,521,678.00. Following the completion of the transaction, the insider now directly owns 44,680 shares of the company’s stock, valued at $8,891,320. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Thomas P. Carey sold 12,731 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the completion of the transaction, the vice president now directly owns 13,303 shares of the company’s stock, valued at $2,674,169.06. The disclosure for this sale can be found here. Insiders have sold 48,483 shares of company stock valued at $9,745,637 in the last 90 days. 1.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BR. DA Davidson reiterated a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th. Royal Bank of Canada lifted their target price on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Evercore ISI reiterated an “outperform” rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. Finally, Raymond James lifted their target price on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $206.67.

Broadridge Financial Solutions Price Performance

NYSE:BR opened at $195.91 on Wednesday. The stock has a market cap of $23.07 billion, a P/E ratio of 34.13 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a one year low of $139.52 and a one year high of $210.24. The company has a fifty day moving average price of $200.70 and a 200 day moving average price of $194.45. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.40 and a quick ratio of 1.40.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Thursday, February 1st. The business services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.91 EPS. Analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.75%.

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.