Golden State Equity Partners Cuts Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Golden State Equity Partners cut its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 26.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,105 shares of the business services provider’s stock after selling 395 shares during the period. Golden State Equity Partners’ holdings in Broadridge Financial Solutions were worth $250,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. DAVENPORT & Co LLC grew its position in shares of Broadridge Financial Solutions by 6.5% during the fourth quarter. DAVENPORT & Co LLC now owns 1,475 shares of the business services provider’s stock worth $333,000 after buying an additional 90 shares in the last quarter. Symphony Financial Ltd. Co. acquired a new position in shares of Broadridge Financial Solutions during the fourth quarter worth about $216,000. Independence Bank of Kentucky grew its position in shares of Broadridge Financial Solutions by 1,815.8% during the fourth quarter. Independence Bank of Kentucky now owns 1,820 shares of the business services provider’s stock worth $411,000 after buying an additional 1,725 shares in the last quarter. Chicago Partners Investment Group LLC grew its position in shares of Broadridge Financial Solutions by 14.5% during the fourth quarter. Chicago Partners Investment Group LLC now owns 1,140 shares of the business services provider’s stock worth $262,000 after buying an additional 144 shares in the last quarter. Finally, Caprock Group LLC grew its position in shares of Broadridge Financial Solutions by 2.3% during the fourth quarter. Caprock Group LLC now owns 4,208 shares of the business services provider’s stock worth $955,000 after buying an additional 95 shares in the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Trading Up 0.2 %

Broadridge Financial Solutions stock opened at $238.72 on Tuesday. 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 market cap of $27.90 billion, a PE ratio of 37.36 and a beta of 1.08. The stock has a 50-day moving average price of $231.37 and a 200 day moving average price of $220.56. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $241.45.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating 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 period in the previous year, the business posted $0.92 earnings per share. Equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.55 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 13th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Friday, December 13th. Broadridge Financial Solutions’s payout ratio is currently 55.09%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BR. UBS Group upped their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a report on Monday. DA Davidson reaffirmed a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. JPMorgan Chase & Co. upped their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Finally, Royal Bank of Canada upped their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a report 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 currently has an average rating of “Hold” and a consensus price target of $239.17.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 10,757 shares of the company’s 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 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 document filed with the SEC, which is available at the SEC website. Also, insider Douglas Richard Deschutter sold 24,185 shares of the company’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 value of $5,325,778.85. Following the completion of the transaction, the insider now directly owns 27,137 shares in the company, valued at approximately $5,975,838.77. The trade was a 47.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,532 shares of company stock worth $12,264,846. 1.30% of the stock is currently owned by company insiders.

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.