By otakuyassine3@gmail.com 
Asset Management One Co. Ltd. cut its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) by 0.7% during the 4th quarter, Holdings Channel reports. The firm owned 51,969 shares of the business services provider’s stock after selling 392 shares during the period. Asset Management One Co. Ltd.’s holdings in Broadridge Financial Solutions were worth $11,764,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of BR. Adero Partners LLC raised its holdings in Broadridge Financial Solutions by 2.5% in the 4th quarter. Adero Partners LLC now owns 1,837 shares of the business services provider’s stock worth $415,000 after purchasing an additional 45 shares in the last quarter. Sunburst Financial Group LLC raised its stake in Broadridge Financial Solutions by 4.8% in the fourth quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider’s stock worth $229,000 after buying an additional 46 shares in the last quarter. Avestar Capital LLC lifted its holdings in Broadridge Financial Solutions by 4.0% in the third quarter. Avestar Capital LLC now owns 1,248 shares of the business services provider’s stock worth $268,000 after buying an additional 48 shares during the period. Foundations Investment Advisors LLC boosted its position in Broadridge Financial Solutions by 3.5% during the 4th quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider’s stock valued at $345,000 after acquiring an additional 52 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Broadridge Financial Solutions by 5.5% during the 4th quarter. UMB Bank n.a. now owns 1,097 shares of the business services provider’s stock worth $248,000 after acquiring an additional 57 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.
Broadridge Financial Solutions Stock Down 1.0 %
NYSE:BR opened at $240.40 on Monday. The firm has a 50-day simple moving average of $232.49 and a two-hundred day simple moving average of $222.64. The firm has a market cap of $28.13 billion, a P/E ratio of 37.62 and a beta of 1.08. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $244.47. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.39 and a current ratio of 1.35.
Broadridge Financial Solutions (NYSE:BR – Get Free Report) last released its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same quarter in the previous year, the firm earned $0.92 EPS. Analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.
Broadridge Financial Solutions Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis 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 55.09%.
Insider Transactions at Broadridge Financial Solutions
In related news, Director Brett Keller sold 5,442 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total value of $1,308,256.80. Following the transaction, the director now directly owns 15,536 shares of the company’s stock, valued at approximately $3,734,854.40. This trade represents a 25.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Laura Matlin sold 514 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the sale, the vice president now directly owns 6,602 shares of the company’s stock, valued at $1,595,043.20. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,666 shares of company stock worth $5,050,766 in the last quarter. Company insiders own 1.30% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have recently commented on the company. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. UBS Group boosted their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Morgan Stanley increased their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” 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 Saturday, November 9th. Finally, Royal Bank of Canada upped their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $239.17.
Read Our Latest Report on Broadridge Financial Solutions
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.
Further Reading
Want to see what other hedge funds are holding BR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report).
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