B. Riley Wealth Advisors Inc. cut its position in Broadridge Financial Solutions Inc. (NYSE: BR – Free Report) by 30.9% in the fourth quarter, according to its latest filing with the SEC. The fund held 2,799 shares in the business service provider after selling 1,254 shares during the period. B. Riley Wealth Advisors’ shares in Broadridge Financial Solutions were valued at $377,000 as of the latest filing with the SEC.
Several other hedge funds have also bought and sold shares of the company. Money Concepts Capital Corp increased his stake in Broadridge Financial Solutions by 400.0% during the fourth quarter. Money Concepts Capital Corp purchased an additional 156 shares in him last quarter and now owns 195 shares worth $26,000 in the business services provider. Resurgent Financial Advisors LLC acquired a new stake in Broadridge Financial Solutions in the fourth quarter for a value of approximately $27,000. Asset Dedication LLC acquired additional shares of Broadridge Financial Solutions in the fourth quarter for a value of approximately $31,000. Thompson Siegel & Walmsley LLC increased its position in Broadridge Financial Solutions stock by 730.0% in the fourth quarter. Thompson Siegel & Walmsley LLC purchased an additional 219 shares last quarter and now owns 249 shares of the business services provider, valued at $33,000. Finally, Edmund DE Rothschild Holding SA acquired a new stake in Broadridge Financial Solutions in the fourth quarter for a value of approximately $38,000. Institutional investors and hedge funds currently hold 89.05% of the shares.
In other news from Broadridge Financial Solutions, vice president Richard John Stingy sold 750 shares of the company in a transaction on Thursday, May 4. The shares were sold at an average price of $155.27 for a total of $116,452.50. Following the closing of the transaction, the Vice President will directly own 4,202 shares of the Company’s stock valued at approximately $652,444.54. The sale is disclosed in his SEC filings, which are available at this hyperlink. In other news, Vice President Richard John Stingy sold 750 shares of the stock in a transaction on Thursday, May 4. The shares were sold at an average price of $155.27 for a total of $116,452.50. After the sale is completed, the vice president will own 4,202 shares of the company, valued at $652,444.54. The sale was disclosed in his SEC legal filings, which are available at this link. Vice President Laura Matlin also sold 4,052 shares of her stock in a deal on Friday, May 19. The shares were sold at an average price of $153.73 for a total of $622,913.96. After the sale is completed, the Vice President will own 5,825 shares of the company directly, valued at approximately $895,477.25. Disclosure information regarding this sale can be found here. Insiders have sold 27,397 shares worth $4,162,229 in the past 90 days. Insiders own 1.60% of the company’s shares.
Broadridge Financial Solutions rose 1.4%
Broadridge Financial Solutions shares opened Friday at $165.63. The company’s 50-day moving average is $153.52 and its 200-day moving average is $146.03. The company has a market capitalization of $19.54 billion, a P/E of 35.54 times and a beta of 0.99 times. Broadridge Financial Solutions hit a one-year low of $131.35 and a one-year high of $183.33. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt to equity ratio of 2.04.
Broadridge Financial Solutions (NYSE:BR – Free Report) last reported quarterly results on Tuesday, May 2nd. Business service providers reported earnings per share (EPS) of $2.05 for the quarter, beating consensus expectations of $2.01 by $0.04. The company had revenue of $1.65 billion for the quarter, with consensus expectations of $1.65 billion. Broadridge Financial Solutions had a net profit margin of 9.33% and a return on equity of 40.29%. The company’s revenue for the quarter increased by 7.3% compared to the same period last year. Earnings per share for the business in the same period last year were $1.93. Equity research analysts expect Broadridge Financial Solutions to post earnings per share of $6.90 this fiscal year.
Broadridge Financial Solutions Dividend Announcement
The company also recently announced a quarterly dividend to be paid on Thursday, July 6th. Investors who registered on Thursday, June 15 will be given a dividend of $0.725 per share. The ex-dividend date is Wednesday, June 14. This equates to a dividend of $2.90 for him and a yield of 1.75% for him on an annualized basis. Broadridge Financial Solutions currently has a payout ratio of 62.23%.
Wall Street analyst speaks out
Recently, many research firms have turned their attention to BR. Royal Bank of Canada began featuring Broadridge Financial Solutions shares in its research report on Monday, April 24. They rated the company “outperform” and set a price target of $169.00. StockNews.com undertook coverage of Broadridge Financial Solutions in a research note on Thursday, May 18th. They issued a “hold” rating to the company. Two investment analysts rated the company’s stock as a “hold” and two investment analysts rated the company’s stock as a “buy.” According to MarketBeat.com, the consensus rating for the stock is currently “Moderate Buy” with an average target price of $161.40.
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 Communications Solutions segment processes and distributes proxy materials to stock and mutual fund investors, as well as facilitates related ballot processing services. We also distribute regulatory reports, class action lawsuits, corporate litigation/reorganization event information, and tax reporting solutions.
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