Proficio Capital Partners LLC Acquires New Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Proficio Capital Partners LLC acquired a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 113,995 shares of the business services provider’s stock, valued at approximately $25,773,000.

A number of other hedge funds also recently bought and sold shares of the company. True Wealth Design LLC increased its position in Broadridge Financial Solutions by 2,028.6% in the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after buying an additional 142 shares in the last quarter. Fortitude Family Office LLC increased its position in Broadridge Financial Solutions by 246.7% in the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after buying an additional 111 shares in the last quarter. Hazlett Burt & Watson Inc. purchased a new stake in Broadridge Financial Solutions in the third quarter worth about $38,000. FSA Wealth Management LLC purchased a new stake in Broadridge Financial Solutions in the third quarter worth about $39,000. Finally, Global X Japan Co. Ltd. purchased a new stake in Broadridge Financial Solutions in the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of Broadridge Financial Solutions stock opened at $241.26 on Friday. The stock has a 50 day moving average of $233.55 and a 200 day moving average of $223.96. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $244.47. The firm has a market cap of $28.23 billion, a PE ratio of 37.76 and a beta of 1.08. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same quarter last year, the firm earned $0.92 earnings per share. On average, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is presently 55.09%.

Insider Activity

In other news, Director Brett Keller sold 5,442 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total value of $1,308,256.80. Following the completion of the sale, the director now directly owns 15,536 shares of the company’s stock, valued at $3,734,854.40. This trade represents a 25.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas P. Carey sold 15,710 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total value of $3,618,327.20. Following the completion of the sale, the vice president now directly owns 12,146 shares of the company’s stock, valued at $2,797,466.72. The trade was a 56.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,151 shares of company stock valued at $5,166,162 in the last ninety days. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

BR has been the subject of a number of analyst reports. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Thursday. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. DA Davidson reaffirmed a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. UBS Group upped their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley upped their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Hold” and an average price target of $239.17.

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.