Ellevest Inc. Purchases 125 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Ellevest Inc. grew its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,454 shares of the business services provider’s stock after purchasing an additional 125 shares during the period. Ellevest Inc.’s holdings in Broadridge Financial Solutions were worth $555,000 at the end of the most recent quarter.

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

Insider Transactions at Broadridge Financial Solutions

In related news, insider Hope M. Jarkowski sold 1,068 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total value of $251,214.96. Following the completion of the sale, the insider now directly owns 1,070 shares in the company, valued at approximately $251,685.40. The trade was a 49.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $235.43, for a total value of $22,590,921.08. Following the sale, the chief executive officer now directly owns 169,788 shares in the company, valued at $39,973,188.84. This represents a 36.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,866 shares of company stock valued at $28,216,569. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BR. JPMorgan Chase & Co. boosted their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday. Needham & Company LLC started coverage on shares of Broadridge Financial Solutions in a research report on Tuesday. They issued a “buy” rating and a $300.00 price objective for the company. Morgan Stanley upped their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. Finally, DA Davidson reiterated a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Broadridge Financial Solutions has a consensus rating of “Hold” and an average target price of $250.83.

Broadridge Financial Solutions Stock Up 0.4 %

Shares of BR opened at $236.92 on Friday. The firm has a market cap of $27.83 billion, a P/E ratio of 37.08 and a beta of 0.98. 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 52 week low of $192.68 and a 52 week high of $247.01. The firm’s 50-day simple moving average is $233.94 and its 200 day simple moving average is $231.78.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.03. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.23 earnings per share. On average, analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

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.