Avantax Advisory Services Inc. Purchases 352 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Avantax Advisory Services Inc. lifted its position in Broadridge Financial Solutions, Inc. (NYSE:BR – Get Rating) by 13.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,019 shares of the business services provider’s stock after buying an additional 352 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Broadridge Financial Solutions were worth $436,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in BR. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Broadridge Financial Solutions by 1,454.6% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,065,835 shares of the business services provider’s stock worth $153,821,000 after purchasing an additional 997,275 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Broadridge Financial Solutions by 86.6% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,195,313 shares of the business services provider’s stock worth $186,122,000 after purchasing an additional 554,807 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Broadridge Financial Solutions by 60.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 613,831 shares of the business services provider’s stock worth $87,502,000 after purchasing an additional 230,501 shares during the last quarter. Parnassus Investments LLC lifted its holdings in Broadridge Financial Solutions by 10.4% in the 2nd quarter. Parnassus Investments LLC now owns 1,460,419 shares of the business services provider’s stock worth $208,183,000 after purchasing an additional 138,092 shares during the last quarter. Finally, Veritas Investment Partners UK Ltd. lifted its holdings in Broadridge Financial Solutions by 15.8% in the 2nd quarter. Veritas Investment Partners UK Ltd. now owns 969,616 shares of the business services provider’s stock worth $138,306,000 after purchasing an additional 132,114 shares during the last quarter. Institutional investors own 86.45% of the company’s stock.

Broadridge Financial Solutions Stock Performance

BR opened at $150.26 on Wednesday. The stock has a market cap of $17.68 billion, a PE ratio of 34.15 and a beta of 0.93. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 2.13. Broadridge Financial Solutions, Inc. has a 1 year low of $131.35 and a 1 year high of $183.33. The stock’s 50 day simple moving average is $141.59 and its 200-day simple moving average is $151.09.

Broadridge Financial Solutions (NYSE:BR – Get Rating) last released its quarterly earnings data on Wednesday, November 2nd. The business services provider reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.03). The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.26 billion. Broadridge Financial Solutions had a net margin of 9.01% and a return on equity of 39.99%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.07 earnings per share. Sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 6.93 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 5th. Shareholders of record on Thursday, December 15th were given a $0.725 dividend. This represents a $2.90 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date was Wednesday, December 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 65.91%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BR shares. DA Davidson reduced their target price on Broadridge Financial Solutions to $160.00 in a report on Thursday, October 27th. StockNews.com started coverage on Broadridge Financial Solutions in a report on Wednesday, October 12th. They set a “hold” rating for the company. TheStreet lowered Broadridge Financial Solutions from a “b” rating to a “c+” rating in a report on Wednesday, November 2nd. Morgan Stanley started coverage on Broadridge Financial Solutions in a report on Wednesday, December 14th. They set an “equal weight” rating and a $160.00 price target for the company. Finally, Wolfe Research cut their price target on Broadridge Financial Solutions from $137.00 to $135.00 in a report on Thursday, January 5th.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Thomas J. Perna sold 42,417 shares of the company’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $147.57, for a total value of $6,259,476.69. Following the sale, the director now directly owns 29,704 shares in the company, valued at $4,383,419.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Profile

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Broadridge Financial Solutions, Inc engages in the provision of investor communications and technology solutions to banks, broker-dealers, mutual funds, and corporate issuers. It operates through the following segments: Investor Communication Solutions and Global Technology and Operations. The Investor Communication Solutions segment offers services for broker-dealer investor communication, customer communication, corporate issuer, advisor solutions, and mutual fund and retirement solutions.