Patton Fund Management Inc. Sells 2,726 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Patton Fund Management Inc. trimmed its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 13.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,941 shares of the business services provider’s stock after selling 2,726 shares during the quarter. Patton Fund Management Inc.’s holdings in Broadridge Financial Solutions were worth $4,056,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BR. Bogart Wealth LLC raised its position in shares of Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 96 shares during the period. True Wealth Design LLC grew its stake in Broadridge Financial Solutions by 2,028.6% in the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after buying an additional 142 shares during the last quarter. Fortitude Family Office LLC raised its holdings in Broadridge Financial Solutions by 246.7% in the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 111 shares during the period. Hazlett Burt & Watson Inc. acquired a new stake in Broadridge Financial Solutions during the third quarter worth approximately $38,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Broadridge Financial Solutions during the third quarter worth approximately $39,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR opened at $237.92 on Wednesday. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $241.45. The stock has a market capitalization of $27.81 billion, a price-to-earnings ratio of 41.16 and a beta of 1.08. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. The company’s 50 day simple moving average is $230.66 and its 200 day simple moving average is $219.71.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS 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 analysts’ expectations of $1.48 billion. Broadridge Financial Solutions’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.09 EPS. As a group, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared 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 1.48%. The ex-dividend date of this dividend was Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.90%.

Insider Activity at Broadridge Financial Solutions

In related news, insider Douglas Richard Deschutter sold 24,185 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was 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 in the company, valued at $5,975,838.77. The trade was a 47.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Maura A. Markus sold 3,880 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $227.02, for a total value of $880,837.60. Following the completion of the transaction, the director now directly owns 27,788 shares of the company’s stock, valued at approximately $6,308,431.76. The trade was a 12.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,532 shares of company stock valued at $12,264,846. 1.30% of the stock is owned by insiders.

Analyst Ratings Changes

BR has been the topic of a number of recent research reports. DA Davidson reiterated a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Morgan Stanley boosted their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Finally, UBS Group began coverage on shares of Broadridge Financial Solutions in a research report on Thursday, November 21st. They set a “neutral” rating and a $250.00 target price on the stock. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Broadridge Financial Solutions presently has an average rating of “Hold” and an average target price of $226.71.

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.