Bleakley Financial Group LLC Lowers Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Bleakley Financial Group LLC trimmed its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 5.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,390 shares of the business services provider’s stock after selling 598 shares during the quarter. Bleakley Financial Group LLC’s holdings in Broadridge Financial Solutions were worth $2,575,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Tyche Wealth Partners LLC purchased a new position in Broadridge Financial Solutions during the 4th quarter valued at about $781,000. Tectonic Advisors LLC boosted its stake in shares of Broadridge Financial Solutions by 5.3% in the 4th quarter. Tectonic Advisors LLC now owns 1,939 shares of the business services provider’s stock valued at $438,000 after buying an additional 98 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Broadridge Financial Solutions by 20.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,105 shares of the business services provider’s stock valued at $4,091,000 after buying an additional 3,120 shares during the period. Stratos Wealth Partners LTD. boosted its stake in shares of Broadridge Financial Solutions by 2.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 18,308 shares of the business services provider’s stock valued at $4,139,000 after buying an additional 413 shares during the period. Finally, Avitas Wealth Management LLC boosted its stake in shares of Broadridge Financial Solutions by 1.4% in the 4th quarter. Avitas Wealth Management LLC now owns 5,322 shares of the business services provider’s stock valued at $1,203,000 after buying an additional 72 shares during the period. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 10,757 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $226.82, for a total value of $2,439,902.74. Following the transaction, the vice president now directly owns 12,689 shares in the company, valued at approximately $2,878,118.98. This trade represents a 45.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Brett Keller sold 5,442 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $240.40, for a total value of $1,308,256.80. Following the completion of the transaction, the director now owns 15,536 shares in the company, valued at $3,734,854.40. This trade represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,303 shares of company stock valued at $8,371,507 over the last quarter. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

BR has been the subject of several recent research reports. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. DA Davidson reiterated a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. JPMorgan Chase & Co. lifted their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Finally, Royal Bank of Canada lifted their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research note on Monday. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $239.17.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $239.87 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.39 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 $242.39. The firm has a market capitalization of $28.04 billion, a PE ratio of 37.54 and a beta of 1.08. The stock’s 50-day simple moving average is $231.63 and its 200-day simple moving average is $221.10.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, topping the consensus estimate 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 last year, the business earned $0.92 EPS. As a group, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.55 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.47%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 55.09%.

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.