Advisors Asset Management Inc. Has $14.12 Million Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Advisors Asset Management Inc. reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,471 shares of the business services provider’s stock after selling 1,270 shares during the quarter. Advisors Asset Management Inc.’s holdings in Broadridge Financial Solutions were worth $14,124,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Qsemble Capital Management LP bought a new position in Broadridge Financial Solutions in the 3rd quarter valued at about $1,412,000. Horizon Kinetics Asset Management LLC bought a new stake in shares of Broadridge Financial Solutions during the 3rd quarter valued at approximately $483,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of 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. Miracle Mile Advisors LLC grew its holdings in shares of Broadridge Financial Solutions by 98.0% during the 4th quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider’s stock valued at $550,000 after purchasing an additional 1,204 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Broadridge Financial Solutions during the 3rd quarter valued at approximately $2,251,000. 90.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 22,357 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $235.23, for a total value of $5,259,037.11. Following the transaction, the president now directly owns 52,524 shares in the company, valued at approximately $12,355,220.52. This represents a 29.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy C. Gokey sold 95,956 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the transaction, the chief executive officer now owns 169,788 shares in the company, valued at approximately $39,973,188.84. This trade represents a 36.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 124,754 shares of company stock valued at $29,397,793 over the last three months. 1.30% of the stock is currently owned by insiders.

Broadridge Financial Solutions Price Performance

BR opened at $231.21 on Tuesday. The firm has a market cap of $27.06 billion, a P/E ratio of 36.18 and a beta of 1.05. The firm has a 50-day moving average of $235.52 and a 200 day moving average of $226.24. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $246.58.

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. On average, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.52%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

Analysts Set New Price Targets

BR has been the topic of several research reports. UBS Group lifted their price target 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. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Morgan Stanley lifted their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. lifted their target price on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, DA Davidson reiterated a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.