SRS Capital Advisors Inc. Sells 263 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

SRS Capital Advisors Inc. decreased its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 17.7% during the fourth quarter, HoldingsChannel reports. The firm owned 1,224 shares of the business services provider’s stock after selling 263 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Broadridge Financial Solutions were worth $252,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Stifel Financial Corp grew its holdings in Broadridge Financial Solutions by 1,700.7% in the third quarter. Stifel Financial Corp now owns 1,542,507 shares of the business services provider’s stock worth $276,194,000 after purchasing an additional 1,456,847 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Broadridge Financial Solutions by 124.8% in the third quarter. Envestnet Asset Management Inc. now owns 687,830 shares of the business services provider’s stock worth $123,156,000 after acquiring an additional 381,882 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth $227,750,000. Assenagon Asset Management S.A. increased its holdings in shares of Broadridge Financial Solutions by 1,865.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 93,363 shares of the business services provider’s stock valued at $19,209,000 after acquiring an additional 88,613 shares in the last quarter. Finally, HighTower Advisors LLC raised its position in shares of Broadridge Financial Solutions by 307.8% in the 3rd quarter. HighTower Advisors LLC now owns 110,691 shares of the business services provider’s stock worth $19,833,000 after purchasing an additional 83,546 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 12,200 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $204.71, for a total value of $2,497,462.00. Following the completion of the sale, the insider now owns 32,480 shares in the company, valued at $6,648,980.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Douglas Richard Deschutter sold 12,200 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the sale, the insider now directly owns 32,480 shares in the company, valued at approximately $6,648,980.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert N. Duelks sold 830 shares of Broadridge Financial Solutions stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $201.58, for a total transaction of $167,311.40. Following the transaction, the director now owns 5,445 shares in the company, valued at approximately $1,097,603.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,483 shares of company stock worth $9,745,637. Company insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of BR stock traded up $3.50 on Friday, reaching $198.85. The stock had a trading volume of 437,685 shares, compared to its average volume of 388,730. The stock has a market cap of $23.42 billion, a P/E ratio of 34.66 and a beta of 0.98. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.40 and a current ratio of 1.40. Broadridge Financial Solutions, Inc. has a 1 year low of $144.54 and a 1 year high of $210.24. The company has a 50 day simple moving average of $200.27 and a 200 day simple moving average of $195.07.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the company posted $0.91 EPS. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. Equities research analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.20 dividend on an annualized basis and a yield of 1.61%. Broadridge Financial Solutions’s dividend payout ratio is currently 55.75%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Evercore ISI reissued an “outperform” rating and set a $230.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. DA Davidson reiterated a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th. Royal Bank of Canada raised their price target on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Raymond James upped their price objective on Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Finally, StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $206.67.

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.