Snowden Capital Advisors LLC Acquires 113 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Snowden Capital Advisors LLC boosted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,324 shares of the business services provider’s stock after buying an additional 113 shares during the quarter. Snowden Capital Advisors LLC’s holdings in Broadridge Financial Solutions were worth $527,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in BR. Minot DeBlois Advisors LLC bought a new stake in Broadridge Financial Solutions during the fourth quarter valued at approximately $34,000. Gen Wealth Partners Inc bought a new stake in Broadridge Financial Solutions during the fourth quarter valued at approximately $36,000. Global X Japan Co. Ltd. bought a new stake in Broadridge Financial Solutions during the fourth quarter valued at approximately $41,000. Curio Wealth LLC purchased a new position in Broadridge Financial Solutions during the fourth quarter valued at approximately $45,000. Finally, Promus Capital LLC purchased a new position in Broadridge Financial Solutions during the fourth quarter valued at approximately $52,000. 90.03% of the stock is currently owned by institutional investors.

Insider Transactions at Broadridge Financial Solutions

In related news, Director Pamela L. Carter sold 4,829 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $242.23, for a total value of $1,169,728.67. Following the completion of the sale, the director now directly owns 7,242 shares of the company’s stock, valued at $1,754,229.66. This represents a 40.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas P. Carey sold 3,607 shares of the company’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $237.26, for a total transaction of $855,796.82. Following the completion of the sale, the vice president now directly owns 6,077 shares of the company’s stock, valued at approximately $1,441,829.02. This trade represents a 37.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 128,302 shares of company stock worth $30,242,095. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a report on Monday. JPMorgan Chase & Co. lifted 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. Needham & Company LLC started coverage on shares of Broadridge Financial Solutions in a report on Tuesday, May 6th. They set a “buy” rating and a $300.00 price target on the stock. Morgan Stanley boosted 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. Finally, DA Davidson reissued a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $250.83.

Broadridge Financial Solutions Trading Down 0.2%

BR stock opened at $242.33 on Wednesday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions, Inc. has a twelve month low of $192.68 and a twelve month high of $247.01. The stock has a market capitalization of $28.46 billion, a price-to-earnings ratio of 37.92 and a beta of 0.98. The firm’s fifty day simple moving average is $234.92 and its two-hundred day simple moving average is $233.19.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.03. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the business posted $2.23 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. As a group, analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Thursday, June 12th. Broadridge Financial Solutions’s payout ratio is presently 52.93%.

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.