State of Alaska Department of Revenue Sells 2,065 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

State of Alaska Department of Revenue decreased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 13.4% in the 4th quarter, HoldingsChannel reports. The fund owned 13,351 shares of the business services provider’s stock after selling 2,065 shares during the period. State of Alaska Department of Revenue’s holdings in Broadridge Financial Solutions were worth $3,017,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of BR. Qsemble Capital Management LP bought a new stake in Broadridge Financial Solutions during the 3rd quarter valued at $1,412,000. Atria Investments Inc increased its position in shares of Broadridge Financial Solutions by 9.7% during 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 in the last quarter. Horizon Kinetics Asset Management LLC bought a new stake in shares of Broadridge Financial Solutions during the third quarter worth about $483,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Broadridge Financial Solutions by 53.5% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock worth $2,434,000 after acquiring an additional 3,753 shares during the last quarter. Finally, Miracle Mile Advisors LLC lifted its position in Broadridge Financial Solutions by 98.0% in the 4th quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider’s stock valued at $550,000 after acquiring an additional 1,204 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Insider Buying and Selling

In other news, Director Brett Keller sold 5,442 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $240.40, for a total value of $1,308,256.80. Following the sale, the director now owns 15,536 shares of the company’s stock, valued at $3,734,854.40. The trade was a 25.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Thomas P. Carey sold 15,710 shares of the firm’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 transaction of $3,618,327.20. Following the completion of the transaction, the vice president now directly owns 12,146 shares of the company’s stock, valued at approximately $2,797,466.72. This trade represents a 56.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,666 shares of company stock valued at $5,050,766. 1.30% of the stock is owned by company insiders.

Broadridge Financial Solutions Stock Up 0.1 %

Shares of NYSE:BR opened at $240.29 on Monday. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $242.39. The company has a market capitalization of $28.12 billion, a PE ratio of 37.60 and a beta of 1.08. The business has a fifty day moving average price of $231.71 and a two-hundred day moving average price of $221.59. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same quarter last year, the company earned $0.92 earnings per share. Analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.88 per share. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.46%. Broadridge Financial Solutions’s payout ratio is currently 55.09%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. UBS Group boosted their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. DA Davidson reiterated a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Finally, Morgan Stanley raised their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $239.17.

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.