Wealth Enhancement Advisory Services LLC Buys 865 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Wealth Enhancement Advisory Services LLC increased its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.5% in the fourth quarter, HoldingsChannel reports. The fund owned 20,258 shares of the business services provider’s stock after purchasing an additional 865 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Broadridge Financial Solutions were worth $4,580,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Adero Partners LLC boosted its position in Broadridge Financial Solutions by 2.5% during the 4th quarter. Adero Partners LLC now owns 1,837 shares of the business services provider’s stock valued at $415,000 after buying an additional 45 shares during the period. Sunburst Financial Group LLC raised its stake in shares of Broadridge Financial Solutions by 4.8% during the fourth quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider’s stock valued at $229,000 after acquiring an additional 46 shares during the last quarter. Nicolet Advisory Services LLC boosted its holdings in shares of Broadridge Financial Solutions by 4.8% during the fourth quarter. Nicolet Advisory Services LLC now owns 1,010 shares of the business services provider’s stock worth $224,000 after purchasing an additional 46 shares during the period. Advisors Capital Management LLC boosted its holdings in shares of Broadridge Financial Solutions by 3.5% during the fourth quarter. Advisors Capital Management LLC now owns 1,440 shares of the business services provider’s stock worth $326,000 after purchasing an additional 49 shares during the period. Finally, TCTC Holdings LLC grew its stake in shares of Broadridge Financial Solutions by 0.9% in the fourth quarter. TCTC Holdings LLC now owns 5,979 shares of the business services provider’s stock worth $1,352,000 after purchasing an additional 52 shares during the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BR has been the subject of a number of recent analyst reports. Needham & Company LLC began coverage on Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a “buy” rating and a $300.00 price target for the company. Wall Street Zen raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $259.00 target price on shares of Broadridge Financial Solutions in a report on Monday, May 19th. 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, Broadridge Financial Solutions currently has an average rating of “Hold” and a consensus price target of $250.83.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock opened at $244.14 on Wednesday. Broadridge Financial Solutions, Inc. has a fifty-two week low of $192.68 and a fifty-two week high of $247.01. The stock’s 50 day simple moving average is $236.07 and its two-hundred day simple moving average is $234.36. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. The stock has a market cap of $28.68 billion, a price-to-earnings ratio of 38.21 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.03. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.23 earnings per share. As a group, analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Thursday, June 12th. Broadridge Financial Solutions’s dividend payout ratio is presently 52.93%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, President Christopher John Perry sold 22,357 shares of Broadridge Financial Solutions stock in a transaction on Friday, March 7th. The stock was sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the completion of the transaction, the president now owns 52,524 shares in the company, valued at approximately $12,355,220.52. The trade was a 29.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas Richard Deschutter sold 5,056 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total value of $1,211,164.80. Following the completion of the sale, the insider now directly owns 21,167 shares in the company, valued at approximately $5,070,554.85. This represents a 19.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 132,873 shares of company stock worth $31,337,863 in the last three months. 1.30% of the stock is owned by corporate insiders.

Broadridge Financial Solutions 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.