Proficio Capital Partners LLC Acquires Shares of 113,995 Broadridge Financial Solutions, Inc. (NYSE:BR)

Proficio Capital Partners LLC bought a new position in Broadridge Financial Solutions, Inc. (NYSE:BR) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 113,995 shares of the business services provider’s stock, valued at approximately $25,773,000.

Several other institutional investors and hedge funds also recently made changes to their positions in BR. Adero Partners LLC boosted its position in Broadridge Financial Solutions by 2.5% in the fourth quarter. Adero Partners LLC now owns 1,837 shares of the business services provider’s stock worth $415,000 after purchasing an additional 45 shares during the last quarter. Sunburst Financial Group LLC boosted its holdings in shares of Broadridge Financial Solutions by 4.8% in the 4th quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider’s stock worth $229,000 after buying an additional 46 shares during the last quarter. Avestar Capital LLC boosted its holdings in shares of Broadridge Financial Solutions by 4.0% in the 3rd quarter. Avestar Capital LLC now owns 1,248 shares of the business services provider’s stock worth $268,000 after buying an additional 48 shares during the last quarter. Foundations Investment Advisors LLC grew its position in Broadridge Financial Solutions by 3.5% during the fourth quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider’s stock valued at $345,000 after buying an additional 52 shares during the period. Finally, UMB Bank n.a. increased its holdings in Broadridge Financial Solutions by 5.5% during the fourth quarter. UMB Bank n.a. now owns 1,097 shares of the business services provider’s stock worth $248,000 after buying an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total transaction of $124,182.40. Following the completion of the sale, the vice president now owns 6,602 shares in the company, valued at approximately $1,595,043.20. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Christopher John Perry sold 22,357 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $235.23, for a total value of $5,259,037.11. Following the transaction, the president now directly owns 52,524 shares of the company’s stock, valued at $12,355,220.52. The trade was a 29.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 124,754 shares of company stock valued at $29,397,793 in the last three months. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. DA Davidson reissued a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Morgan Stanley increased their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada boosted their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $239.17.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $227.76 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $246.58. The stock has a market cap of $26.65 billion, a PE ratio of 35.64 and a beta of 1.05. The stock has a fifty day moving average of $235.43 and a 200-day moving average of $225.77.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter last year, the firm posted $0.92 earnings per share. Equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is presently 55.09%.

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.