Bestgate Wealth Advisors LLC Purchases Shares of 1,127 Broadridge Financial Solutions, Inc. (NYSE:BR)

Bestgate Wealth Advisors LLC purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,127 shares of the business services provider’s stock, valued at approximately $255,000.

Other hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC lifted its position in shares of Broadridge Financial Solutions by 2,028.6% in the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after buying an additional 142 shares during the last quarter. Fortitude Family Office LLC lifted its position in shares of Broadridge Financial Solutions by 246.7% in the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after buying an additional 111 shares during the last quarter. FSA Wealth Management LLC acquired a new stake in shares of Broadridge Financial Solutions in the third quarter valued at approximately $39,000. Global X Japan Co. Ltd. acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $41,000. Finally, Truvestments Capital LLC acquired a new stake in Broadridge Financial Solutions during the 3rd quarter worth approximately $45,000. 90.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on BR. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. UBS Group lifted their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. lifted their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, Morgan Stanley lifted their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $239.17.

Insider Activity

In other news, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the transaction, 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director Brett Keller sold 5,442 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total value of $1,308,256.80. Following the sale, the director now owns 15,536 shares in the company, valued at $3,734,854.40. This represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 124,754 shares of company stock worth $29,397,793. Insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $231.11 on Wednesday. The stock has a market capitalization of $27.04 billion, a PE ratio of 36.17 and a beta of 1.05. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The business has a fifty day moving average price of $235.61 and a two-hundred day moving average price of $226.37. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $246.58.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating the consensus estimate 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 period in the previous year, the firm posted $0.92 earnings per share. As a group, equities analysts predict 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 declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be paid a $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.52%. Broadridge Financial Solutions’s payout ratio is 55.09%.

Broadridge Financial Solutions Company 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.