Griffin Asset Management Inc. Has $4.52 Million Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Griffin Asset Management Inc. lowered its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,994 shares of the business services provider’s stock after selling 80 shares during the period. Griffin Asset Management Inc.’s holdings in Broadridge Financial Solutions were worth $4,520,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Sei Investments Co. increased its position in shares of Broadridge Financial Solutions by 22.7% during the second quarter. Sei Investments Co. now owns 24,102 shares of the business services provider’s stock worth $4,749,000 after buying an additional 4,465 shares during the period. Public Sector Pension Investment Board boosted its holdings in shares of Broadridge Financial Solutions by 79.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 4,640 shares of the business services provider’s stock worth $914,000 after buying an additional 2,060 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Broadridge Financial Solutions by 14.9% during the 2nd quarter. AQR Capital Management LLC now owns 65,706 shares of the business services provider’s stock valued at $12,944,000 after buying an additional 8,527 shares during the last quarter. MBB Public Markets I LLC lifted its position in shares of Broadridge Financial Solutions by 516.8% during the second quarter. MBB Public Markets I LLC now owns 8,209 shares of the business services provider’s stock worth $1,617,000 after acquiring an additional 6,878 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Broadridge Financial Solutions by 0.7% in the second quarter. The Manufacturers Life Insurance Company now owns 71,573 shares of the business services provider’s stock valued at $14,100,000 after acquiring an additional 524 shares during the period. 90.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Broadridge Financial Solutions

In other news, Director Maura A. Markus sold 3,880 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 27,788 shares in the company, valued at approximately $6,308,431.76. The trade was a 12.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas Richard Deschutter sold 24,185 shares of the 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 directly owns 27,137 shares in the company, valued at $5,975,838.77. This trade represents a 47.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,532 shares of company stock valued at $12,264,846 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Trading Up 0.9 %

Shares of Broadridge Financial Solutions stock opened at $239.53 on Tuesday. The stock’s 50 day simple moving average is $230.40 and its 200-day simple moving average is $219.48. The stock has a market cap of $28.00 billion, a P/E ratio of 41.44 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. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $241.18.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. Broadridge Financial Solutions’s revenue was down .6% compared to the same quarter last year. During the same period last year, the business posted $1.09 earnings per share. 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 disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 60.90%.

Analysts Set New Price Targets

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

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.