Trading Report: The Wealth Enhancement Advisory Services LLC Increases Position in Broadridge Financial Solutions Inc. (BR)

The Wealth Enhancement Advisory Services LLC Increases Position in Broadridge Financial Solutions Inc. (BR)

Wealth Enhancement Advisory Services LLC raised its stake in Broadridge Financial Solutions Inc. (NYSE:BR) by 11.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 22,259 shares of the company’s stock after buying an additional 2,274 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Broadridge Financial Solutions were worth $1,451,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Envestnet Asset Management Inc. raised its stake in Broadridge Financial Solutions by 2.4% in the first quarter. Envestnet Asset Management Inc. now owns 270,196 shares of the company’s stock valued at $16,025,000 after buying an additional 6,322 shares in the last quarter. Wealthsource Partners LLC purchased a new stake in Broadridge Financial Solutions during the first quarter valued at about $459,000. Adage Capital Partners GP L.L.C. purchased a new stake in Broadridge Financial Solutions during the first quarter valued at about $20,759,000. Prudential PLC raised its stake in Broadridge Financial Solutions by 43.9% in the first quarter. Prudential PLC now owns 8,200 shares of the company’s stock valued at $486,000 after buying an additional 2,500 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Broadridge Financial Solutions by 7.1% in the first quarter. Geode Capital Management LLC now owns 718,188 shares of the company’s stock valued at $42,595,000 after buying an additional 47,412 shares in the last quarter. Hedge funds and other institutional investors own 87.21% of the company’s stock.

Broadridge Financial Solutions Inc. (NYSE:BR) traded down 0.17% on Monday, hitting $65.63. 187,133 shares of the company were exchanged. Broadridge Financial Solutions Inc. has a 52-week low of $48.56 and a 52-week high of $71.74. The stock’s 50-day moving average price is $68.53 and its 200-day moving average price is $65.08. The stock has a market capitalization of $7.76 billion, a P/E ratio of 25.94 and a beta of 1.04.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Tuesday, August 9th. The company reported $1.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.45. The company earned $975 million during the quarter, compared to the consensus estimate of $991.13 million. Broadridge Financial Solutions had a net margin of 10.61% and a return on equity of 34.79%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.40 earnings per share. On average, equities research analysts anticipate that Broadridge Financial Solutions Inc. will post $3.14 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Thursday, September 15th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, September 13th. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 2.00%. Broadridge Financial Solutions’s payout ratio is currently 52.17%.

A number of brokerages have issued reports on BR. Zacks Investment Research lowered shares of Broadridge Financial Solutions from a “hold” rating to a “sell” rating in a report on Monday, September 26th. Sandler O’Neill lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating and set a $74.00 price objective for the company. in a report on Thursday, September 29th. Atlantic Securities began coverage on shares of Broadridge Financial Solutions in a report on Tuesday, September 13th. They set an “overweight” rating and a $82.00 price objective for the company. Finally, Barclays PLC lowered shares of Broadridge Financial Solutions from an “overweight” rating to an “equal weight” rating and set a $67.00 price objective for the company. in a report on Thursday, July 7th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $72.60.

In other Broadridge Financial Solutions news, insider Richard J. Daly sold 125,652 shares of the company’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $69.58, for a total value of $8,742,866.16. Following the completion of the transaction, the insider now owns 231,703 shares in the company, valued at $16,121,894.74. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Richard J. Daly sold 6,095 shares of the company’s stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $68.13, for a total transaction of $415,252.35. Following the completion of the transaction, the insider now owns 254,104 shares of the company’s stock, valued at approximately $17,312,105.52. The disclosure for this sale can be found here. Corporate insiders own 3.50% of the company’s stock.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company’s segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment.

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