957 Shares in Broadridge Financial Solutions, Inc. (NYSE:BR) Bought by Sigma Planning Corp

Sigma Planning Corp purchased a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 957 shares of the business services provider’s stock, valued at approximately $216,000.

A number of other large investors have also recently bought and sold shares of BR. Redmond Asset Management LLC acquired a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth $460,000. Suncoast Equity Management lifted its stake in shares of Broadridge Financial Solutions by 3.1% in the 4th quarter. Suncoast Equity Management now owns 25,926 shares of the business services provider’s stock worth $5,862,000 after acquiring an additional 781 shares during the period. Nicholson Wealth Management Group LLC lifted its stake in shares of Broadridge Financial Solutions by 47.8% in the 4th quarter. Nicholson Wealth Management Group LLC now owns 6,291 shares of the business services provider’s stock worth $1,422,000 after acquiring an additional 2,035 shares during the period. Boston Financial Mangement LLC lifted its stake in shares of Broadridge Financial Solutions by 1.0% in the 4th quarter. Boston Financial Mangement LLC now owns 387,849 shares of the business services provider’s stock worth $87,689,000 after acquiring an additional 4,003 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its stake in shares of Broadridge Financial Solutions by 13.1% in the 4th quarter. Concurrent Investment Advisors LLC now owns 9,992 shares of the business services provider’s stock worth $2,259,000 after acquiring an additional 1,154 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Transactions at Broadridge Financial Solutions

In other news, Director Brett Keller sold 5,442 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the completion of the sale, the director now directly owns 15,536 shares in the company, valued at $3,734,854.40. The trade was a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert N. Duelks sold 485 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $237.93, for a total transaction of $115,396.05. Following the sale, the director now owns 4,960 shares of the company’s stock, valued at approximately $1,180,132.80. This trade represents a 8.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,151 shares of company stock worth $5,166,162 over the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BR has been the subject of several recent analyst reports. Royal Bank of Canada raised 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 note on Monday, February 3rd. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Thursday. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. JPMorgan Chase & Co. raised their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, DA Davidson reiterated a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $239.17.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $241.26 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The firm has a 50-day moving average price of $233.85 and a two-hundred day moving average price of $224.27. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $244.47. The company has a market capitalization of $28.23 billion, a P/E ratio of 37.76 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same quarter in the prior year, the company posted $0.92 earnings per share. As a group, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

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

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.