MML Investors Services LLC Boosts Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

MML Investors Services LLC raised its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 37.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,624 shares of the business services provider’s stock after purchasing an additional 13,176 shares during the period. MML Investors Services LLC’s holdings in Broadridge Financial Solutions were worth $10,993,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BR. Fortitude Family Office LLC lifted its holdings 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 during the period. Global X Japan Co. Ltd. acquired a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at $41,000. Curio Wealth LLC purchased a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at $45,000. Salem Investment Counselors Inc. increased its holdings in shares of Broadridge Financial Solutions by 200.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 225 shares of the business services provider’s stock worth $51,000 after buying an additional 150 shares during the last quarter. Finally, Promus Capital LLC purchased a new position in shares of Broadridge Financial Solutions in the 4th quarter worth $52,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Up 3.1 %

Shares of NYSE BR opened at $235.10 on Wednesday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $247.01. The stock’s 50-day simple moving average is $234.68 and its 200-day simple moving average is $230.31. The firm has a market cap of $27.51 billion, a price-to-earnings ratio of 36.79 and a beta of 1.06.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results 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 return on equity of 44.40% and a net margin of 11.36%. During the same period last year, the business posted $0.92 EPS. As a group, equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.50%. Broadridge Financial Solutions’s payout ratio is 55.09%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BR. JPMorgan Chase & Co. boosted their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. 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 research report on Monday, February 3rd. 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. Morgan Stanley increased their price objective on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Finally, StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $241.00.

Insiders Place Their Bets

In other news, Director Brett Keller sold 5,442 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the sale, the director now directly owns 15,536 shares in the company, valued at approximately $3,734,854.40. This represents a 25.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Laura Matlin sold 514 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the vice president now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 124,754 shares of company stock valued at $29,397,793 in the last quarter. Insiders own 1.30% of the company’s stock.

About Broadridge Financial Solutions

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.