Marks Group Wealth Management Inc Sells 1,449 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Marks Group Wealth Management Inc trimmed its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,663 shares of the business services provider’s stock after selling 1,449 shares during the period. Marks Group Wealth Management Inc’s holdings in Broadridge Financial Solutions were worth $8,967,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BR. Bogart Wealth LLC raised its holdings in Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. True Wealth Design LLC grew its position in shares of Broadridge Financial Solutions by 2,028.6% in the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after buying an additional 142 shares during the last quarter. Fortitude Family Office LLC raised its stake in shares of Broadridge Financial Solutions by 246.7% during the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after acquiring an additional 111 shares in the last quarter. Hazlett Burt & Watson Inc. purchased a new stake in Broadridge Financial Solutions during the third quarter valued at approximately $38,000. Finally, FSA Wealth Management LLC purchased a new stake in Broadridge Financial Solutions during the third quarter valued at approximately $39,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BR. DA Davidson reaffirmed a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Royal Bank of Canada upped their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Morgan Stanley boosted 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, StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $239.17.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, Director Brett Keller sold 5,442 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $240.40, for a total value of $1,308,256.80. Following the completion of the transaction, the director now directly owns 15,536 shares in the company, valued at $3,734,854.40. The trade was a 25.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Thomas P. Carey sold 15,710 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the sale, the vice president now directly owns 12,146 shares in the company, valued at $2,797,466.72. This trade represents a 56.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,666 shares of company stock valued at $5,050,766. 1.30% of the stock is owned by insiders.

Broadridge Financial Solutions Stock Down 0.3 %

Shares of BR stock opened at $241.52 on Wednesday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.39 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 $243.00. The firm has a market capitalization of $28.26 billion, a PE ratio of 37.80 and a beta of 1.08. The stock’s 50-day simple moving average is $232.06 and its 200-day simple moving average is $222.04.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same period in the prior year, the firm posted $0.92 EPS. Equities analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be given a dividend of $0.88 per share. The ex-dividend date is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.46%. 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.