Avantax Advisory Services Inc. Has $1.09 Million Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Avantax Advisory Services Inc. increased its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BRFree Report) by 25.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,312 shares of the business services provider’s stock after purchasing an additional 1,076 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Broadridge Financial Solutions were worth $1,093,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in Broadridge Financial Solutions by 2.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,129 shares of the business services provider’s stock valued at $1,276,000 after buying an additional 186 shares in the last quarter. Allworth Financial LP raised its stake in shares of Broadridge Financial Solutions by 83.4% in the 3rd quarter. Allworth Financial LP now owns 565 shares of the business services provider’s stock valued at $101,000 after acquiring an additional 257 shares in the last quarter. Wealthfront Advisers LLC boosted its position in Broadridge Financial Solutions by 24.2% during the third quarter. Wealthfront Advisers LLC now owns 7,431 shares of the business services provider’s stock worth $1,331,000 after purchasing an additional 1,450 shares during the period. New Mexico Educational Retirement Board boosted its position in Broadridge Financial Solutions by 7.0% during the third quarter. New Mexico Educational Retirement Board now owns 6,150 shares of the business services provider’s stock worth $1,101,000 after purchasing an additional 400 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in Broadridge Financial Solutions by 5.7% during the third quarter. Daiwa Securities Group Inc. now owns 14,760 shares of the business services provider’s stock valued at $2,643,000 after purchasing an additional 798 shares during the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Sunday, May 12th. Royal Bank of Canada upped their price target on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Raymond James increased their target price on Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. DA Davidson reaffirmed a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Finally, Evercore ISI reiterated an “outperform” rating and set a $230.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $206.67.

View Our Latest Stock Report on Broadridge Financial Solutions

Broadridge Financial Solutions Trading Down 0.3 %

Shares of Broadridge Financial Solutions stock opened at $203.49 on Friday. Broadridge Financial Solutions, Inc. has a 52-week low of $144.54 and a 52-week high of $210.24. The firm has a market capitalization of $24.05 billion, a PE ratio of 34.73 and a beta of 0.98. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39. The company’s fifty day moving average price is $199.48 and its two-hundred day moving average price is $197.05.

Broadridge Financial Solutions (NYSE:BRGet Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.01). The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.77 billion. Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the company earned $2.05 EPS. On average, analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Friday, June 14th. Broadridge Financial Solutions’s payout ratio is 54.61%.

Insider Transactions at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 12,731 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total value of $2,559,185.62. Following the completion of the sale, the vice president now owns 13,303 shares of the company’s stock, valued at $2,674,169.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Robert N. Duelks sold 830 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $201.58, for a total value of $167,311.40. Following the completion of the transaction, the director now owns 5,445 shares of the company’s stock, valued at approximately $1,097,603.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas P. Carey sold 12,731 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total value of $2,559,185.62. Following the sale, the vice president now directly owns 13,303 shares in the company, valued at approximately $2,674,169.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,761 shares of company stock valued at $5,223,959. Corporate insiders own 1.60% of the company’s stock.

About Broadridge Financial Solutions

(Free Report)

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.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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