Lee Financial Co Sells 125 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Lee Financial Co lessened its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,435 shares of the business services provider’s stock after selling 125 shares during the quarter. Lee Financial Co’s holdings in Broadridge Financial Solutions were worth $1,908,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BR. Qsemble Capital Management LP acquired a new stake in Broadridge Financial Solutions in the third quarter worth $1,412,000. Atria Investments Inc lifted its holdings in Broadridge Financial Solutions by 9.7% during the third quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock worth $6,373,000 after acquiring an additional 2,610 shares in the last quarter. Horizon Kinetics Asset Management LLC bought a new position in Broadridge Financial Solutions during the third quarter worth about $483,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in 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 acquiring an additional 3,753 shares in the last quarter. Finally, Miracle Mile Advisors LLC increased its holdings 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 acquiring an additional 1,204 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $240.40 on Friday. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $244.47. The company’s fifty day simple moving average is $232.49 and its 200-day simple moving average is $222.58. The firm has a market cap of $28.13 billion, a PE ratio of 37.62 and a beta of 1.08. The company has a quick ratio of 1.39, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) 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 period last year, the company posted $0.92 EPS. Equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be given 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 yield of 1.46%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BR shares. UBS Group boosted their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Morgan Stanley increased their price objective 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. DA Davidson reaffirmed a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. increased their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $239.17.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Laura Matlin sold 514 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the sale, the vice president now directly owns 6,602 shares of the company’s stock, valued at approximately $1,595,043.20. This represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brett Keller sold 5,442 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the completion of the sale, the director now owns 15,536 shares of the company’s stock, 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 sold a total of 21,666 shares of company stock worth $5,050,766 over the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

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.