Horizon Kinetics Asset Management LLC Buys 59 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Horizon Kinetics Asset Management LLC grew its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,307 shares of the business services provider’s stock after acquiring an additional 59 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Broadridge Financial Solutions were worth $522,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in Broadridge Financial Solutions during the fourth quarter worth about $104,466,000. Corient Private Wealth LLC grew its holdings in Broadridge Financial Solutions by 882.9% during the fourth quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider’s stock worth $99,186,000 after purchasing an additional 392,695 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Broadridge Financial Solutions during the third quarter worth about $44,746,000. Benjamin Edwards Inc. grew its holdings in Broadridge Financial Solutions by 2,302.8% during the third quarter. Benjamin Edwards Inc. now owns 147,004 shares of the business services provider’s stock worth $31,618,000 after purchasing an additional 140,886 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in Broadridge Financial Solutions during the fourth quarter worth about $25,773,000. Institutional investors own 90.03% of the company’s stock.

Insider Activity

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the transaction, the chief executive officer now directly owns 169,788 shares in the company, valued at $39,973,188.84. The trade was a 36.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Christopher John Perry sold 22,357 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the transaction, the president now owns 52,524 shares of the company’s stock, valued at approximately $12,355,220.52. This represents a 29.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,754 shares of company stock worth $29,397,793. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

BR has been the subject of a number of research analyst reports. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. DA Davidson restated a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. UBS Group boosted their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. boosted their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Broadridge Financial Solutions has a consensus rating of “Hold” and a consensus target price of $239.17.

Broadridge Financial Solutions Stock Up 1.6 %

NYSE BR opened at $231.21 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $246.58. The company has a 50 day moving average of $235.52 and a 200-day moving average of $226.24. The company has a market cap of $27.06 billion, a price-to-earnings ratio of 36.18 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates 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 in the prior year, the business earned $0.92 earnings per share. On average, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be given a $0.88 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.52%. Broadridge Financial Solutions’s payout ratio 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.