Atria Wealth Solutions Inc. Raises Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Atria Wealth Solutions Inc. grew its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 124.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,534 shares of the business services provider’s stock after acquiring an additional 1,958 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Broadridge Financial Solutions were worth $730,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB lifted its position in Broadridge Financial Solutions by 680.1% during the fourth quarter. Nordea Investment Management AB now owns 85,325 shares of the business services provider’s stock valued at $17,584,000 after purchasing an additional 74,387 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Broadridge Financial Solutions in the fourth quarter worth about $227,750,000. Crown Oak Advisors LLC purchased a new position in Broadridge Financial Solutions in the fourth quarter worth about $7,032,000. Comerica Bank bought a new stake in Broadridge Financial Solutions during the third quarter worth approximately $8,116,000. Finally, Cornercap Investment Counsel Inc. purchased a new stake in Broadridge Financial Solutions during the fourth quarter valued at approximately $1,089,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BR has been the subject of a number of recent research reports. DA Davidson reiterated a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Raymond James boosted their price objective 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 raised their target price on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Evercore ISI reissued an “outperform” rating and issued a $230.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.67.

Broadridge Financial Solutions Trading Up 1.8 %

BR stock opened at $198.95 on Friday. Broadridge Financial Solutions, Inc. has a 12 month low of $144.54 and a 12 month high of $210.24. The firm’s 50-day moving average is $200.32 and its 200 day moving average is $194.93. The company has a market capitalization of $23.43 billion, a PE ratio of 34.66 and a beta of 0.98. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.40 and a quick ratio of 1.40.

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

Broadridge Financial Solutions Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Douglas Richard Deschutter sold 22,722 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the transaction, the insider now owns 44,680 shares in the company, valued at $8,891,320. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Robert N. Duelks sold 830 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $201.58, for a total value of $167,311.40. Following the completion of the transaction, the director now owns 5,445 shares of the company’s stock, valued at $1,097,603.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas Richard Deschutter sold 22,722 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total value of $4,521,678.00. Following the sale, the insider now directly owns 44,680 shares in the company, valued at approximately $8,891,320. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,483 shares of company stock worth $9,745,637. 1.60% of the stock is currently owned by company insiders.

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.