Atria Wealth Solutions Inc. Reduces Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Atria Wealth Solutions Inc. reduced its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 50.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,259 shares of the business services provider’s stock after selling 1,264 shares during the period. Atria Wealth Solutions Inc.’s holdings in Broadridge Financial Solutions were worth $286,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of BR. True Wealth Design LLC increased 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 purchasing an additional 142 shares in the last quarter. Fortitude Family Office LLC increased 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 purchasing an additional 111 shares in the last quarter. Hazlett Burt & Watson Inc. bought a new stake in Broadridge Financial Solutions during the 3rd quarter valued at about $38,000. FSA Wealth Management LLC bought a new stake in Broadridge Financial Solutions during the 3rd quarter valued at about $39,000. Finally, Global X Japan Co. Ltd. bought a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth approximately $41,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Performance

Shares of NYSE BR opened at $241.26 on Friday. The firm has a 50 day moving average of $233.55 and a 200 day moving average of $223.96. 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 market capitalization of $28.23 billion, a price-to-earnings ratio of 37.76 and a beta of 1.08. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $244.47.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) 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 last year, the business earned $0.92 earnings per share. On average, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

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

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Brett Keller sold 5,442 shares of Broadridge Financial Solutions stock in a transaction that occurred on 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 transaction, the director now owns 15,536 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas P. Carey sold 15,710 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the transaction, the vice president now directly owns 12,146 shares in the company, valued at $2,797,466.72. This represents a 56.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,151 shares of company stock valued at $5,166,162 over the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

BR has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their price target 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 lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Thursday. UBS Group lifted their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. lifted their price target on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, DA Davidson reiterated a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Broadridge Financial Solutions presently has an average rating of “Hold” and an average price target of $239.17.

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.