Icon Wealth Advisors LLC Acquires 110 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Icon Wealth Advisors LLC grew its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 5.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,994 shares of the business services provider’s stock after purchasing an additional 110 shares during the period. Icon Wealth Advisors LLC’s holdings in Broadridge Financial Solutions were worth $429,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. NBC Securities Inc. grew its position in Broadridge Financial Solutions by 0.8% in the third quarter. NBC Securities Inc. now owns 5,951 shares of the business services provider’s stock valued at $1,279,000 after acquiring an additional 45 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in shares of Broadridge Financial Solutions by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 10,155 shares of the business services provider’s stock worth $2,001,000 after purchasing an additional 50 shares during the last quarter. Garrison Asset Management LLC increased its position in shares of Broadridge Financial Solutions by 0.3% during the 2nd quarter. Garrison Asset Management LLC now owns 17,943 shares of the business services provider’s stock worth $3,535,000 after purchasing an additional 50 shares in the last quarter. Brighton Jones LLC boosted its position in Broadridge Financial Solutions by 2.5% in the second quarter. Brighton Jones LLC now owns 2,173 shares of the business services provider’s stock valued at $428,000 after buying an additional 52 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co grew its stake in Broadridge Financial Solutions by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 10,804 shares of the business services provider’s stock worth $2,128,000 after buying an additional 54 shares during the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 10,757 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the transaction, the vice president now owns 12,689 shares in the company, valued at approximately $2,878,118.98. This trade represents a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Maura A. Markus sold 3,880 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $227.02, for a total value of $880,837.60. Following the completion of the sale, the director now directly owns 27,788 shares of the company’s stock, valued at approximately $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 sold 84,033 shares of company stock valued at $18,149,572. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Morgan Stanley lifted their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. UBS Group initiated coverage on Broadridge Financial Solutions in a research note on Thursday. They issued a “neutral” rating and a $250.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $222.43.

Broadridge Financial Solutions Trading Up 1.2 %

Shares of BR opened at $230.24 on Friday. The stock’s fifty day simple moving average is $217.48 and its 200-day simple moving average is $209.14. The firm has a market capitalization of $26.91 billion, a PE ratio of 39.83 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 12-month low of $185.30 and a 12-month high of $230.30. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the company posted $1.09 EPS. The company’s revenue was down .6% compared to the same quarter last year. As a group, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.53%. Broadridge Financial Solutions’s payout ratio is presently 60.90%.

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.