By otakuyassine3@gmail.com 
Occidental Asset Management LLC grew its stake in Broadridge Financial Solutions, Inc. (NYSE:BR – Free Report) by 6.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,276 shares of the business services provider’s stock after acquiring an additional 1,223 shares during the quarter. Occidental Asset Management LLC’s holdings in Broadridge Financial Solutions were worth $4,358,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Burney Co. increased its position in shares of Broadridge Financial Solutions by 1.5% during the fourth quarter. Burney Co. now owns 20,243 shares of the business services provider’s stock valued at $4,577,000 after acquiring an additional 294 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Broadridge Financial Solutions by 53.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock valued at $2,434,000 after purchasing an additional 3,753 shares during the last quarter. Park Avenue Securities LLC increased its holdings in shares of Broadridge Financial Solutions by 37.3% in the 4th quarter. Park Avenue Securities LLC now owns 10,136 shares of the business services provider’s stock worth $2,292,000 after purchasing an additional 2,755 shares in the last quarter. Board of the Pension Protection Fund purchased a new position in shares of Broadridge Financial Solutions in the fourth quarter worth $113,000. Finally, SeaCrest Wealth Management LLC bought a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at $234,000. 90.03% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on BR shares. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. UBS Group initiated coverage on shares of Broadridge Financial Solutions in a research note on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price target for the company. Morgan Stanley increased their price objective on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Finally, DA Davidson increased their price target on Broadridge Financial Solutions from $210.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $226.71.
Get Our Latest Stock Report on Broadridge Financial Solutions
Broadridge Financial Solutions Stock Up 1.4 %
BR opened at $231.21 on Friday. The firm’s 50 day simple moving average is $229.33 and its two-hundred day simple moving average is $217.53. The company has a market capitalization of $27.03 billion, a PE ratio of 40.00 and a beta of 1.08. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $237.96. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63.
Broadridge Financial Solutions (NYSE:BR – Get Free Report) last released its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.03. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. Broadridge Financial Solutions’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.09 earnings per share. As a group, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 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 issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.52%. The ex-dividend date was Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio is 60.90%.
Insiders Place Their Bets
In related news, Director Maura A. Markus sold 3,880 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the completion of the sale, the director now owns 27,788 shares in the company, valued at approximately $6,308,431.76. This trade represents a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Thomas P. Carey sold 15,710 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the completion of the transaction, the vice president now directly owns 12,146 shares in the company, valued at approximately $2,797,466.72. This represents a 56.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,532 shares of company stock worth $12,264,846. Company insiders own 1.30% of the company’s stock.
Broadridge Financial Solutions Company 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.
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