Forza Wealth Management LLC Trims Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Forza Wealth Management LLC reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 10.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,600 shares of the business services provider’s stock after selling 300 shares during the period. Forza Wealth Management LLC’s holdings in Broadridge Financial Solutions were worth $588,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BR. Bogart Wealth LLC raised its stake in Broadridge Financial Solutions by 384.0% during the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. True Wealth Design LLC raised its stake in Broadridge Financial Solutions by 2,028.6% during the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 142 shares during the last quarter. Fortitude Family Office LLC raised its stake in Broadridge Financial Solutions by 246.7% during the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 111 shares during the last quarter. Hazlett Burt & Watson Inc. purchased a new stake in Broadridge Financial Solutions during the 3rd quarter valued at approximately $38,000. Finally, FSA Wealth Management LLC purchased a new stake in Broadridge Financial Solutions during the 3rd quarter valued at approximately $39,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 15,710 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the transaction, the vice president now directly owns 12,146 shares of the company’s stock, valued at approximately $2,797,466.72. This trade represents a 56.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Maura A. Markus sold 3,880 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $227.02, for a total value of $880,837.60. Following the completion of the transaction, the director now directly owns 27,788 shares in the company, valued at $6,308,431.76. This trade represents a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,532 shares of company stock valued at $12,264,846. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on BR shares. DA Davidson upped their price objective on Broadridge Financial Solutions from $210.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Morgan Stanley boosted their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. UBS Group began coverage on Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a “neutral” rating and a $250.00 target price on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $226.71.

Broadridge Financial Solutions Stock Performance

NYSE BR traded up $2.51 on Monday, hitting $223.97. 141,736 shares of the company’s stock were exchanged, compared to its average volume of 540,472. The firm has a market cap of $26.18 billion, a price-to-earnings ratio of 38.75 and a beta of 1.08. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. The firm’s 50-day moving average price is $228.47 and its two-hundred day moving average price is $216.96. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $237.96.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The company’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 EPS. On average, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Friday, December 13th. Broadridge Financial Solutions’s payout ratio is currently 60.90%.

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 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.