Empirical Financial Services LLC d.b.a. Empirical Wealth Management Boosts Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,872 shares of the business services provider’s stock after buying an additional 84 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Broadridge Financial Solutions were worth $385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BR. OFI Invest Asset Management purchased a new stake in shares of Broadridge Financial Solutions in the 3rd quarter valued at $25,000. Headinvest LLC acquired a new position in Broadridge Financial Solutions in the 3rd quarter worth about $32,000. First Command Advisory Services Inc. purchased a new position in Broadridge Financial Solutions during the third quarter worth approximately $34,000. Stuart Chaussee & Associates Inc. acquired a new stake in Broadridge Financial Solutions in the fourth quarter valued at approximately $34,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Broadridge Financial Solutions in the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

NYSE:BR opened at $190.46 on Thursday. The stock has a 50 day moving average price of $200.07 and a 200 day moving average price of $195.62. The stock has a market cap of $22.43 billion, a PE ratio of 33.18 and a beta of 0.98. 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, Inc. has a one year low of $144.54 and a one year high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Wednesday, May 8th. The business services provider reported $2.23 EPS for the quarter, missing the consensus estimate of $2.24 by ($0.01). Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. Equities research analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued 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 1.68%. Broadridge Financial Solutions’s dividend payout ratio is currently 55.75%.

Insider Activity

In other news, VP Thomas P. Carey sold 12,731 shares of the stock in a transaction on 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 completion of the transaction, the vice president now directly owns 13,303 shares in the company, valued at approximately $2,674,169.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Thomas P. Carey sold 12,731 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total value of $2,559,185.62. Following the completion of the sale, the vice president now owns 13,303 shares in the company, valued at approximately $2,674,169.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert N. Duelks sold 830 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $201.58, for a total value of $167,311.40. Following the transaction, the director now owns 5,445 shares in the company, valued at $1,097,603.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,761 shares of company stock valued at $5,223,959. 1.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BR shares. Royal Bank of Canada increased their target price on Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Raymond James increased their price objective on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. DA Davidson reiterated a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Finally, Evercore ISI reissued an “outperform” rating and set a $230.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Broadridge Financial Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $206.67.

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.