Broadridge Financial Solutions, Inc. (NYSE:BR) Holdings Lowered by Griffin Asset Management Inc.

Griffin Asset Management Inc. trimmed its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 19,994 shares of the business services provider’s stock after selling 80 shares during the period. Griffin Asset Management Inc.’s holdings in Broadridge Financial Solutions were worth $4,520,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BR. Sei Investments Co. boosted its holdings in shares of Broadridge Financial Solutions by 22.7% in the second quarter. Sei Investments Co. now owns 24,102 shares of the business services provider’s stock worth $4,749,000 after buying an additional 4,465 shares during the period. Public Sector Pension Investment Board grew its stake in Broadridge Financial Solutions by 79.8% in the second quarter. Public Sector Pension Investment Board now owns 4,640 shares of the business services provider’s stock valued at $914,000 after purchasing an additional 2,060 shares in the last quarter. AQR Capital Management LLC increased its holdings in Broadridge Financial Solutions by 14.9% in the second quarter. AQR Capital Management LLC now owns 65,706 shares of the business services provider’s stock worth $12,944,000 after buying an additional 8,527 shares during the last quarter. MBB Public Markets I LLC raised its holdings in shares of Broadridge Financial Solutions by 516.8% during the 2nd quarter. MBB Public Markets I LLC now owns 8,209 shares of the business services provider’s stock valued at $1,617,000 after purchasing an additional 6,878 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Broadridge Financial Solutions by 0.7% in the second quarter. The Manufacturers Life Insurance Company now owns 71,573 shares of the business services provider’s stock worth $14,100,000 after buying an additional 524 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 10,757 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the sale, the vice president now owns 12,689 shares of the company’s stock, valued at $2,878,118.98. This represents a 45.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas Richard Deschutter sold 24,185 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the completion of the sale, the insider now directly owns 27,137 shares of the company’s stock, valued at approximately $5,975,838.77. This represents a 47.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,532 shares of company stock valued at $12,264,846. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BR has been the topic of a number of recent analyst reports. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. UBS Group began coverage on shares of Broadridge Financial Solutions in a report on Thursday, November 21st. They set a “neutral” rating and a $250.00 price target for the company. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Morgan Stanley increased their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $226.71.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR opened at $239.53 on Tuesday. The firm has a market capitalization of $28.00 billion, a PE ratio of 41.44 and a beta of 1.08. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $241.18. The business’s 50 day moving average is $230.40 and its 200-day moving average is $219.48.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.09 EPS. Sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio is 60.90%.

Broadridge Financial Solutions 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.