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

State of Alaska Department of Revenue lowered its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 13.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BR. Bogart Wealth LLC lifted its position in Broadridge Financial Solutions by 384.0% during the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after purchasing an additional 96 shares during the period. True Wealth Design LLC raised its position in shares of Broadridge Financial Solutions by 2,028.6% in the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after buying an additional 142 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in shares of Broadridge Financial Solutions by 246.7% during the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after acquiring an additional 111 shares during the period. Hazlett Burt & Watson Inc. bought a new stake in shares of Broadridge Financial Solutions during the 3rd quarter worth approximately $38,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Broadridge Financial Solutions during the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on BR. Royal Bank of Canada boosted their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. UBS Group upped their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. lifted their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. 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 note on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Broadridge Financial Solutions presently has an average rating of “Hold” and an average price target of $239.17.

Insider Buying and Selling

In other news, VP Thomas P. Carey sold 15,710 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total value of $3,618,327.20. Following the sale, the vice president now directly owns 12,146 shares of the company’s stock, valued at approximately $2,797,466.72. This represents a 56.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the sale, the vice president now owns 6,602 shares of the company’s stock, valued at approximately $1,595,043.20. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,666 shares of company stock valued at $5,050,766 in the last three months. Insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock opened at $240.29 on Monday. The company has a market capitalization of $28.12 billion, a PE ratio of 37.60 and a beta of 1.08. The company has a current ratio of 1.35, a quick ratio of 1.39 and a debt-to-equity ratio of 1.64. The stock has a 50-day moving average price of $231.71 and a two-hundred day moving average price of $221.59. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $242.39.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the firm posted $0.92 earnings per share. Analysts expect 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. Investors of record on Thursday, March 13th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.46%. Broadridge Financial Solutions’s payout ratio is 55.09%.

About Broadridge Financial Solutions

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.