Ieq Capital LLC Purchases 3,910 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Ieq Capital LLC raised its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 48.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,991 shares of the business services provider’s stock after purchasing an additional 3,910 shares during the quarter. Ieq Capital LLC’s holdings in Broadridge Financial Solutions were worth $2,711,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Lyell Wealth Management LP boosted its holdings in shares of Broadridge Financial Solutions by 52.6% in the fourth quarter. Lyell Wealth Management LP now owns 29,977 shares of the business services provider’s stock worth $6,778,000 after buying an additional 10,334 shares during the last quarter. Global Retirement Partners LLC raised its position in Broadridge Financial Solutions by 14.9% in the fourth quarter. Global Retirement Partners LLC now owns 2,548 shares of the business services provider’s stock worth $576,000 after acquiring an additional 331 shares during the period. Atlas Legacy Advisors LLC purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter worth $708,000. Kestra Investment Management LLC bought a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at $115,000. Finally, Venturi Wealth Management LLC increased its stake in shares of Broadridge Financial Solutions by 66.1% in the 4th quarter. Venturi Wealth Management LLC now owns 2,547 shares of the business services provider’s stock worth $576,000 after purchasing an additional 1,014 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, Director Brett Keller sold 5,442 shares of Broadridge Financial Solutions stock in a transaction that occurred 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 of the company’s stock, valued at $3,734,854.40. The trade was a 25.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Thomas P. Carey sold 15,710 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total value of $3,618,327.20. Following the transaction, the vice president now owns 12,146 shares of the company’s stock, valued at $2,797,466.72. This represents a 56.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,666 shares of company stock worth $5,050,766 in the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Morgan Stanley lifted their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Royal Bank of Canada increased 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. Finally, UBS Group lifted their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $239.17.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $235.31 on Friday. The stock has a 50-day moving average price of $232.79 and a 200 day moving average price of $223.40. The stock has a market capitalization of $27.54 billion, a P/E ratio of 36.82 and a beta of 1.08. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $244.47. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64.

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 (EPS) for the quarter, beating 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 quarter last year, the company posted $0.92 earnings per share. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.50%. Broadridge Financial Solutions’s dividend payout ratio is currently 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.