Hanson & Doremus Investment Management Acquires 450 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Hanson & Doremus Investment Management lifted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 64.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,150 shares of the business services provider’s stock after buying an additional 450 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Broadridge Financial Solutions were worth $260,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Manning & Napier Advisors LLC bought a new position in shares of Broadridge Financial Solutions in the fourth quarter worth $1,753,000. Swedbank AB lifted its holdings in Broadridge Financial Solutions by 0.7% during the 4th quarter. Swedbank AB now owns 25,311 shares of the business services provider’s stock worth $5,723,000 after purchasing an additional 176 shares in the last quarter. Allen Capital Group LLC boosted its stake in Broadridge Financial Solutions by 6.3% in the 4th quarter. Allen Capital Group LLC now owns 14,030 shares of the business services provider’s stock worth $3,172,000 after purchasing an additional 833 shares during the period. Strategic Blueprint LLC grew its holdings in Broadridge Financial Solutions by 6.9% during the 4th quarter. Strategic Blueprint LLC now owns 1,310 shares of the business services provider’s stock valued at $296,000 after buying an additional 85 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its position in shares of Broadridge Financial Solutions by 222.1% during the fourth quarter. Hantz Financial Services Inc. now owns 15,472 shares of the business services provider’s stock valued at $3,498,000 after buying an additional 10,668 shares during the period. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Thomas P. Carey sold 15,710 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now owns 12,146 shares in the company, valued at approximately $2,797,466.72. This trade represents a 56.40 % 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 hyperlink. Also, insider Douglas Richard Deschutter sold 24,185 shares of the company’s stock in a transaction 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 sale, the insider now owns 27,137 shares of the company’s stock, valued at $5,975,838.77. This represents a 47.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,532 shares of company stock worth $12,264,846 in the last 90 days. 1.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $246.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. UBS Group started coverage on Broadridge Financial Solutions in a research report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price objective on the stock. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Finally, DA Davidson restated a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $226.71.

Broadridge Financial Solutions Price Performance

BR opened at $235.74 on Thursday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $27.56 billion, a P/E ratio of 40.79 and a beta of 1.08. The stock has a 50-day moving average price of $230.87 and a 200-day moving average price of $219.82. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $241.45.

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

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 60.90%.

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.