Horizon Kinetics Asset Management LLC Buys 59 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Horizon Kinetics Asset Management LLC grew its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,307 shares of the business services provider’s stock after buying an additional 59 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Broadridge Financial Solutions were worth $522,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Qsemble Capital Management LP bought a new stake in shares of Broadridge Financial Solutions during the third quarter worth $1,412,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Broadridge Financial Solutions by 53.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock worth $2,434,000 after buying an additional 3,753 shares during the last quarter. Miracle Mile Advisors LLC grew its stake in shares of Broadridge Financial Solutions by 98.0% in the fourth quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider’s stock worth $550,000 after purchasing an additional 1,204 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Broadridge Financial Solutions in the third quarter worth $2,251,000. Finally, Y Intercept Hong Kong Ltd grew its stake in shares of Broadridge Financial Solutions by 121.3% in the third quarter. Y Intercept Hong Kong Ltd now owns 11,561 shares of the business services provider’s stock worth $2,486,000 after purchasing an additional 6,336 shares during the last quarter. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $231.21 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $27.06 billion, a P/E ratio of 36.18 and a beta of 1.05. The firm’s fifty day simple moving average is $235.52 and its two-hundred day simple moving average is $226.24. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $246.58.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data 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 EPS. As a group, analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

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

Insider Activity

In other news, CEO Timothy C. Gokey sold 95,956 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the transaction, the chief executive officer now owns 169,788 shares in the company, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert N. Duelks sold 485 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $237.93, for a total transaction of $115,396.05. Following the completion of the sale, the director now owns 4,960 shares in the company, valued at $1,180,132.80. This represents a 8.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 124,754 shares of company stock worth $29,397,793. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BR. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Royal Bank of Canada boosted their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. UBS Group boosted their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.