IHT Wealth Management LLC Makes New $288,000 Investment in Broadridge Financial Solutions, Inc. (NYSE:BR)

IHT Wealth Management LLC purchased a new position in Broadridge Financial Solutions, Inc. (NYSE:BR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,340 shares of the business services provider’s stock, valued at approximately $288,000.

Several other institutional investors and hedge funds have also bought and sold shares of BR. Integrated Wealth Concepts LLC grew its holdings in shares of Broadridge Financial Solutions by 10.5% during the third quarter. Integrated Wealth Concepts LLC now owns 24,950 shares of the business services provider’s stock valued at $5,365,000 after buying an additional 2,381 shares during the last quarter. Hilltop Holdings Inc. grew its holdings in shares of Broadridge Financial Solutions by 15.0% during the third quarter. Hilltop Holdings Inc. now owns 4,420 shares of the business services provider’s stock valued at $950,000 after buying an additional 576 shares during the last quarter. Centiva Capital LP purchased a new stake in shares of Broadridge Financial Solutions during the third quarter valued at $1,564,000. Benjamin Edwards Inc. grew its holdings in shares of Broadridge Financial Solutions by 2,302.8% during the third 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 during the last quarter. Finally, Aureus Asset Management LLC grew its holdings in shares of Broadridge Financial Solutions by 13.1% during the third quarter. Aureus Asset Management LLC now owns 32,320 shares of the business services provider’s stock valued at $6,950,000 after buying an additional 3,745 shares during the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Douglas Richard Deschutter sold 24,185 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the completion of the transaction, the insider now owns 27,137 shares in the company, valued at $5,975,838.77. This represents a 47.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maura A. Markus sold 3,880 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the transaction, the director now owns 27,788 shares of the company’s stock, valued at approximately $6,308,431.76. This trade represents a 12.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,532 shares of company stock worth $12,264,846. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Trading Down 0.7 %

Shares of Broadridge Financial Solutions stock opened at $233.71 on Tuesday. The firm has a 50-day simple moving average of $222.78 and a two-hundred day simple moving average of $211.94. The company has a market cap of $27.32 billion, a P/E ratio of 40.43 and a beta of 1.07. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $237.96. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The company’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 earnings per share. As a group, equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a $0.88 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.51%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 60.90%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BR shares. Morgan Stanley boosted their price objective on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. UBS Group assumed coverage on shares of Broadridge Financial Solutions in a report on Thursday, November 21st. They set a “neutral” rating and a $250.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $222.43.

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.