Legacy Capital Wealth Partners LLC Sells 3,857 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Legacy Capital Wealth Partners LLC lessened its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 54.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,250 shares of the business services provider’s stock after selling 3,857 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Broadridge Financial Solutions were worth $735,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Bogart Wealth LLC grew its holdings in Broadridge Financial Solutions by 384.0% during the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after acquiring an additional 96 shares during the period. True Wealth Design LLC grew its holdings in Broadridge Financial Solutions by 2,028.6% during the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after acquiring an additional 142 shares during the period. Fortitude Family Office LLC grew its holdings in 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 during the period. Hazlett Burt & Watson Inc. acquired a new stake in Broadridge Financial Solutions during the 3rd quarter worth $38,000. Finally, Global X Japan Co. Ltd. acquired a new stake in Broadridge Financial Solutions during the 4th quarter worth $41,000. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of BR stock opened at $240.40 on Friday. The firm has a market capitalization of $28.13 billion, a price-to-earnings ratio of 37.62 and a beta of 1.08. The company has a quick ratio of 1.39, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $244.47. The firm has a fifty day moving average of $232.49 and a 200-day moving average of $222.58.

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

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is presently 55.09%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 15,710 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were 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 of the company’s stock, valued at $2,797,466.72. The trade was a 56.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Laura Matlin sold 514 shares of the business’s 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 sale, the vice president now directly owns 6,602 shares in the company, valued at $1,595,043.20. This trade represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,666 shares of company stock valued at $5,050,766. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

BR has been the subject of a number of analyst reports. Morgan Stanley lifted their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Royal Bank of Canada lifted their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. DA Davidson reissued a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $239.17.

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.