Fortitude Family Office LLC Has $35,000 Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Fortitude Family Office LLC boosted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 246.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 156 shares of the business services provider’s stock after buying an additional 111 shares during the period. Fortitude Family Office LLC’s holdings in Broadridge Financial Solutions were worth $35,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Qsemble Capital Management LP acquired a new position in Broadridge Financial Solutions in the 3rd quarter valued at approximately $1,412,000. Atria Investments Inc increased its stake in shares of Broadridge Financial Solutions by 9.7% in the third quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock worth $6,373,000 after acquiring an additional 2,610 shares during the last quarter. Horizon Kinetics Asset Management LLC purchased a new stake in shares of Broadridge Financial Solutions during the third quarter worth $483,000. Quest Partners LLC purchased a new position in Broadridge Financial Solutions in the third quarter valued at about $2,251,000. Finally, Legacy Capital Wealth Partners LLC increased its position in Broadridge Financial Solutions by 82.7% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 7,107 shares of the business services provider’s stock worth $1,528,000 after purchasing an additional 3,216 shares during the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 24,185 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total value of $5,325,778.85. Following the sale, the insider now owns 27,137 shares of the company’s stock, valued at $5,975,838.77. The trade was a 47.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 directly owns 12,689 shares of the company’s stock, valued at $2,878,118.98. The trade was a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,532 shares of company stock worth $12,264,846 over the last three months. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of NYSE BR opened at $221.55 on Friday. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $237.96. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. The company has a market cap of $25.90 billion, a P/E ratio of 38.33 and a beta of 1.08. The business’s 50 day moving average is $228.24 and its two-hundred day moving average is $216.60.

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

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.90%.

Analyst Ratings Changes

A number of research firms have recently weighed in on BR. UBS Group initiated coverage on shares of Broadridge Financial Solutions in a report on Thursday, November 21st. They set a “neutral” rating and a $250.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. DA Davidson raised 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. 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 report on Wednesday, November 6th. Finally, StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $226.71.

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.