Broadridge Financial Solutions, Inc. (NYSE:BR) Holdings Lowered by Golden State Equity Partners

Golden State Equity Partners trimmed its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 26.3% in the 4th quarter, HoldingsChannel reports. The firm owned 1,105 shares of the business services provider’s stock after selling 395 shares during the quarter. Golden State Equity Partners’ holdings in Broadridge Financial Solutions were worth $250,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BR. Sanctuary Advisors LLC purchased a new stake in shares of Broadridge Financial Solutions during the second quarter valued at $2,784,000. Czech National Bank lifted its holdings in shares of Broadridge Financial Solutions by 5.6% during the third quarter. Czech National Bank now owns 23,774 shares of the business services provider’s stock valued at $5,112,000 after purchasing an additional 1,254 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Broadridge Financial Solutions by 21.9% during the third quarter. Handelsbanken Fonder AB now owns 38,061 shares of the business services provider’s stock valued at $8,184,000 after purchasing an additional 6,829 shares during the last quarter. GAMMA Investing LLC lifted its stake in Broadridge Financial Solutions by 39.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,178 shares of the business services provider’s stock worth $468,000 after acquiring an additional 620 shares in the last quarter. Finally, Miracle Mile Advisors LLC lifted its stake in Broadridge Financial Solutions by 10.2% in the 3rd quarter. Miracle Mile Advisors LLC now owns 1,229 shares of the business services provider’s stock worth $264,000 after acquiring an additional 114 shares in the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BR has been the subject of several research analyst reports. UBS Group increased their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday. Royal Bank of Canada increased their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday. DA Davidson reissued a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Morgan Stanley increased their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, JPMorgan Chase & Co. upped their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research report on Monday. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $239.17.

Insider Activity

In related news, VP Thomas P. Carey sold 15,710 shares of Broadridge Financial Solutions stock in a transaction 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 sale, the vice president now directly owns 12,146 shares of the company’s stock, valued at $2,797,466.72. The trade was a 56.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Douglas Richard Deschutter sold 24,185 shares of Broadridge Financial Solutions stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $220.21, for a total value of $5,325,778.85. Following the sale, the insider now directly owns 27,137 shares of the company’s stock, valued at approximately $5,975,838.77. This trade represents a 47.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,532 shares of company stock valued at $12,264,846. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock opened at $238.72 on Tuesday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.39. The company has a market capitalization of $27.90 billion, a PE ratio of 37.36 and a beta of 1.08. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $241.45. The business has a 50 day simple moving average of $231.37 and a 200 day simple moving average of $220.56.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates 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 business posted $0.92 earnings per share. On average, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.55 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 13th were paid a $0.88 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.47%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 55.09%.

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.