Charles Schwab Investment Management Inc. increased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 3.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 684,789 shares of the business services provider's stock after buying an additional 23,376 shares during the period. Charles Schwab Investment Management Inc. owned 0.59% of Broadridge Financial Solutions worth $154,824,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Adero Partners LLC raised its position in Broadridge Financial Solutions by 2.5% during the fourth quarter. Adero Partners LLC now owns 1,837 shares of the business services provider's stock valued at $415,000 after purchasing an additional 45 shares in the last quarter. Sunburst Financial Group LLC raised its holdings in shares of Broadridge Financial Solutions by 4.8% during the 4th quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider's stock valued at $229,000 after buying an additional 46 shares in the last quarter. Avestar Capital LLC lifted its position in Broadridge Financial Solutions by 4.0% in the 3rd quarter. Avestar Capital LLC now owns 1,248 shares of the business services provider's stock worth $268,000 after buying an additional 48 shares during the last quarter. Foundations Investment Advisors LLC boosted its stake in Broadridge Financial Solutions by 3.5% in the fourth quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider's stock worth $345,000 after buying an additional 52 shares in the last quarter. Finally, UMB Bank n.a. grew its position in Broadridge Financial Solutions by 5.5% during the fourth quarter. UMB Bank n.a. now owns 1,097 shares of the business services provider's stock valued at $248,000 after acquiring an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company's stock.
BR has been the subject of a number of research reports. 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. Wolfe Research reiterated a "peer perform" rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Royal Bank of Canada lifted their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. UBS Group lifted their price target 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 lifted their price target 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. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $239.17.
Check Out Our Latest Stock Analysis on BR
In related news, Director Brett Keller sold 5,442 shares of the company's stock in a transaction 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 sale, the director now directly owns 15,536 shares of the company's stock, valued at $3,734,854.40. This represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Laura Matlin sold 514 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the sale, the vice president now directly owns 6,602 shares in the company, valued at approximately $1,595,043.20. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,441 shares of company stock valued at $1,547,835. Company insiders own 1.30% of the company's stock.
BR stock opened at $241.30 on Friday. The firm's 50-day moving average price is $235.05 and its two-hundred day moving average price is $225.07. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $246.58. The stock has a market capitalization of $28.24 billion, a price-to-earnings ratio of 37.76 and a beta of 1.05. 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 - Get Free Report) last posted its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the previous year, the firm earned $0.92 EPS. As a group, equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.88 per share. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.46%. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 55.09%.
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.
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