Merit Financial Group LLC Raises Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Merit Financial Group LLC increased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 41.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,141 shares of the business services provider’s stock after purchasing an additional 1,214 shares during the period. Merit Financial Group LLC’s holdings in Broadridge Financial Solutions were worth $852,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Procyon Advisors LLC grew its position in shares of Broadridge Financial Solutions by 2.3% in the 4th quarter. Procyon Advisors LLC now owns 2,319 shares of the business services provider’s stock worth $477,000 after buying an additional 52 shares during the last quarter. New York Life Investment Management LLC increased its position in Broadridge Financial Solutions by 0.3% during the 4th quarter. New York Life Investment Management LLC now owns 18,444 shares of the business services provider’s stock valued at $3,795,000 after purchasing an additional 52 shares during the period. Optas LLC raised its holdings in Broadridge Financial Solutions by 3.8% in the 4th quarter. Optas LLC now owns 1,565 shares of the business services provider’s stock worth $322,000 after purchasing an additional 57 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Broadridge Financial Solutions by 3.8% during the 4th quarter. Signaturefd LLC now owns 1,596 shares of the business services provider’s stock valued at $328,000 after purchasing an additional 58 shares in the last quarter. Finally, Teamwork Financial Advisors LLC increased its position in shares of Broadridge Financial Solutions by 1.6% during the fourth quarter. Teamwork Financial Advisors LLC now owns 4,090 shares of the business services provider’s stock valued at $841,000 after buying an additional 63 shares during the period. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $198.85 on Monday. The business has a 50 day simple moving average of $200.27 and a two-hundred day simple moving average of $195.29. Broadridge Financial Solutions, Inc. has a 1-year low of $144.54 and a 1-year high of $210.24. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $23.42 billion, a PE ratio of 34.64 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, February 1st. The business services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $1.40 billion. During the same period last year, the company earned $0.91 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, research analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

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

Wall Street Analyst Weigh In

BR has been the subject of a number of recent research reports. Raymond James lifted their price target on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Royal Bank of Canada increased their price objective on Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday. DA Davidson reaffirmed a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Finally, Evercore ISI reissued an “outperform” rating and set a $230.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $206.67.

Insider Transactions at Broadridge Financial Solutions

In other news, insider Douglas Richard Deschutter sold 12,200 shares of the stock in a transaction that occurred on 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 sale, the insider now directly 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 available at this link. In other news, insider Douglas Richard Deschutter sold 12,200 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 32,480 shares of the company’s stock, valued at $6,648,980.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert N. Duelks sold 830 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $201.58, for a total value of $167,311.40. Following the transaction, the director now owns 5,445 shares in the company, valued at $1,097,603.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,483 shares of company stock worth $9,745,637. 1.60% of the stock is currently owned by insiders.

Broadridge Financial Solutions Company 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.