Concord Wealth Partners Sells 479 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Concord Wealth Partners cut its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 72.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 178 shares of the business services provider’s stock after selling 479 shares during the quarter. Concord Wealth Partners’ holdings in Broadridge Financial Solutions were worth $37,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BR. Savant Capital LLC boosted its stake in Broadridge Financial Solutions by 50.3% during the fourth quarter. Savant Capital LLC now owns 2,127 shares of the business services provider’s stock worth $438,000 after acquiring an additional 712 shares in the last quarter. Penobscot Investment Management Company Inc. bought a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth approximately $227,000. Kestra Private Wealth Services LLC grew its stake in shares of Broadridge Financial Solutions by 1.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 27,020 shares of the business services provider’s stock worth $5,559,000 after buying an additional 382 shares during the last quarter. Ledyard National Bank purchased a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth approximately $244,000. Finally, Mather Group LLC. increased its position in Broadridge Financial Solutions by 10.3% during the 4th quarter. Mather Group LLC. now owns 2,772 shares of the business services provider’s stock valued at $570,000 after buying an additional 258 shares in the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Raymond James increased 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. Evercore ISI reissued an “outperform” rating and set a $230.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Royal Bank of Canada upped 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. DA Davidson reissued a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Finally, StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $206.67.

Broadridge Financial Solutions Trading Up 1.8 %

Shares of NYSE:BR opened at $198.95 on Friday. The stock’s 50-day simple moving average is $200.27 and its two-hundred day simple moving average is $195.07. The stock has a market capitalization of $23.43 billion, a price-to-earnings ratio of 34.66 and a beta of 0.98. Broadridge Financial Solutions, Inc. has a 52-week low of $144.54 and a 52-week high of $210.24. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.40 and a current ratio of 1.40.

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, topping analysts’ consensus estimates of $0.89 by $0.03. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the firm posted $0.91 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. Analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders 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 dividend yield of 1.61%. The ex-dividend date of this dividend was Thursday, March 14th. Broadridge Financial Solutions’s payout ratio is 55.75%.

Insider Transactions at Broadridge Financial Solutions

In other news, insider Douglas Richard Deschutter sold 22,722 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total value of $4,521,678.00. Following the transaction, the insider now owns 44,680 shares of the company’s stock, valued at $8,891,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 22,722 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 44,680 shares in the company, valued at $8,891,320. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Thomas P. Carey sold 12,731 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the sale, the vice president now owns 13,303 shares in the company, valued at $2,674,169.06. The disclosure for this sale can be found here. Insiders sold 48,483 shares of company stock worth $9,745,637 in the last three months. Corporate insiders own 1.60% of the company’s stock.

About Broadridge Financial Solutions

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.