Envestnet Asset Management Inc. Has $144.08 Million Stake in Broadridge Financial Solutions, Inc. $BR

Envestnet Asset Management Inc. decreased its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 8.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 592,843 shares of the business services provider’s stock after selling 55,193 shares during the quarter. Envestnet Asset Management Inc. owned about 0.50% of Broadridge Financial Solutions worth $144,079,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Chilton Capital Management LLC grew its position in shares of Broadridge Financial Solutions by 63.9% in the second quarter. Chilton Capital Management LLC now owns 608 shares of the business services provider’s stock valued at $148,000 after purchasing an additional 237 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Broadridge Financial Solutions by 0.8% in the second quarter. Nisa Investment Advisors LLC now owns 43,211 shares of the business services provider’s stock valued at $10,540,000 after buying an additional 362 shares during the period. Wealthfront Advisers LLC boosted its stake in shares of Broadridge Financial Solutions by 6.7% in the second quarter. Wealthfront Advisers LLC now owns 10,513 shares of the business services provider’s stock valued at $2,555,000 after buying an additional 660 shares during the period. MQS Management LLC boosted its stake in shares of Broadridge Financial Solutions by 34.9% in the second quarter. MQS Management LLC now owns 2,867 shares of the business services provider’s stock valued at $697,000 after buying an additional 742 shares during the period. Finally, Curio Wealth LLC boosted its stake in shares of Broadridge Financial Solutions by 19,900.0% in the second quarter. Curio Wealth LLC now owns 200 shares of the business services provider’s stock valued at $49,000 after buying an additional 199 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

BR has been the subject of several recent research reports. UBS Group boosted their price target on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a “neutral” rating in a research note on Friday, August 8th. Morgan Stanley boosted their price target on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Wall Street Zen cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday. DA Davidson reiterated a “neutral” rating and issued a $240.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $265.67.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 7,036 shares of the company’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the completion of the transaction, the president directly owned 48,813 shares in the company, valued at approximately $12,824,151.36. This represents a 12.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy C. Gokey sold 84,571 shares of the company’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $259.53, for a total transaction of $21,948,711.63. Following the transaction, the chief executive officer owned 165,634 shares of the company’s stock, valued at $42,986,992.02. This trade represents a 33.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 147,532 shares of company stock valued at $38,417,208 over the last quarter. Company insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Stock Down 0.9%

Shares of NYSE:BR opened at $229.86 on Wednesday. The company has a fifty day moving average of $242.73 and a 200-day moving average of $242.56. The company has a market capitalization of $26.83 billion, a PE ratio of 32.42 and a beta of 0.95. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.98 and a current ratio of 0.98. Broadridge Financial Solutions, Inc. has a 52-week low of $208.20 and a 52-week high of $271.91.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share (EPS) for the quarter. The company had revenue of $1.05 billion during the quarter. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. On average, equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were issued a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 1.7%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. The ex-dividend date was Thursday, September 11th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 55.01%.

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.