Wealth Enhancement Advisory Services LLC Reduces Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Wealth Enhancement Advisory Services LLC lessened its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 46.9% in the third quarter, Holdings Channel reports. The fund owned 19,393 shares of the business services provider’s stock after selling 17,111 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Broadridge Financial Solutions were worth $4,170,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its position in Broadridge Financial Solutions by 14.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,418 shares of the business services provider’s stock worth $1,520,000 after acquiring an additional 926 shares during the period. State of Alaska Department of Revenue lifted its position in Broadridge Financial Solutions by 0.6% during the first quarter. State of Alaska Department of Revenue now owns 12,801 shares of the business services provider’s stock valued at $2,621,000 after purchasing an additional 80 shares in the last quarter. Norden Group LLC bought a new stake in Broadridge Financial Solutions during the first quarter valued at about $4,652,000. First Trust Direct Indexing L.P. increased its position in Broadridge Financial Solutions by 6.7% in the first quarter. First Trust Direct Indexing L.P. now owns 3,130 shares of the business services provider’s stock worth $641,000 after buying an additional 196 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC raised its stake in shares of Broadridge Financial Solutions by 10.3% in the first quarter. Ashton Thomas Private Wealth LLC now owns 3,301 shares of the business services provider’s stock worth $676,000 after buying an additional 309 shares during the period. Institutional investors own 90.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday. JPMorgan Chase & Co. upped their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada raised their price objective on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $213.33.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 17,534 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the sale, the president now directly owns 50,237 shares of the company’s stock, valued at $10,721,078.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Christopher John Perry sold 17,534 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total value of $3,741,930.94. Following the completion of the transaction, the president now owns 50,237 shares of the company’s stock, valued at approximately $10,721,078.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy C. Gokey sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $209.11, for a total value of $5,227,750.00. Following the sale, the chief executive officer now directly owns 200,675 shares in the company, valued at $41,963,149.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,386 shares of company stock worth $28,112,824 in the last quarter. 1.60% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Trading Down 0.8 %

BR stock opened at $210.86 on Friday. The company has a market capitalization of $24.92 billion, a price-to-earnings ratio of 35.98 and a beta of 1.05. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. Broadridge Financial Solutions, Inc. has a 1-year low of $168.76 and a 1-year high of $224.32. The business has a 50 day simple moving average of $213.51 and a two-hundred day simple moving average of $205.89.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.01. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. Broadridge Financial Solutions’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the company posted $3.21 earnings per share. Research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a dividend of $0.88 per share. The ex-dividend date was Thursday, September 12th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a yield of 1.67%. Broadridge Financial Solutions’s dividend payout ratio is presently 60.07%.

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.