Sequoia Financial Advisors LLC Acquires New Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Sequoia Financial Advisors LLC purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,767 shares of the business services provider’s stock, valued at approximately $364,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Broadridge Financial Solutions by 0.8% in the first quarter. Vanguard Group Inc. now owns 13,714,442 shares of the business services provider’s stock worth $2,135,476,000 after purchasing an additional 108,223 shares in the last quarter. Morgan Stanley lifted its position in Broadridge Financial Solutions by 41.0% during the 4th quarter. Morgan Stanley now owns 7,043,656 shares of the business services provider’s stock worth $944,766,000 after buying an additional 2,048,184 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Broadridge Financial Solutions by 2.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,488,037 shares of the business services provider’s stock worth $511,243,000 after buying an additional 96,566 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Broadridge Financial Solutions by 1.5% in the 1st quarter. Geode Capital Management LLC now owns 2,519,784 shares of the business services provider’s stock valued at $368,593,000 after acquiring an additional 37,989 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its holdings in Broadridge Financial Solutions by 85.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,230,810 shares of the business services provider’s stock worth $299,219,000 after acquiring an additional 1,025,907 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Evercore ISI restated an “outperform” rating and set a $230.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. DA Davidson reaffirmed a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Raymond James lifted their price target on Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Finally, Royal Bank of Canada boosted their price target on Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $206.67.

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $192.98 on Friday. Broadridge Financial Solutions, Inc. has a 52 week low of $139.52 and a 52 week high of $210.24. The company has a market capitalization of $22.73 billion, a price-to-earnings ratio of 33.62 and a beta of 0.99. The company has a 50-day simple moving average of $200.84 and a 200 day simple moving average of $193.89. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.40 and a current ratio of 1.40.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Thursday, February 1st. The business services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the business posted $0.91 earnings per share. On average, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a dividend of $0.80 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.66%. Broadridge Financial Solutions’s payout ratio is presently 55.75%.

Insiders Place Their Bets

In related news, insider Douglas Richard Deschutter sold 22,722 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total value of $4,521,678.00. Following the completion of the sale, the insider now directly owns 44,680 shares in the company, valued at $8,891,320. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Douglas Richard Deschutter sold 22,722 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total value of $4,521,678.00. Following the transaction, the insider now owns 44,680 shares in the company, valued at $8,891,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas P. Carey sold 12,731 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the sale, the vice president now directly owns 13,303 shares of the company’s stock, valued at approximately $2,674,169.06. The disclosure for this sale can be found here. Insiders have sold a total of 48,483 shares of company stock worth $9,745,637 in the last quarter. Corporate insiders own 1.60% of the company’s stock.

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.