Thurston Springer Miller Herd & Titak Inc. Has $2.43 Million Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 53.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 10,768 shares of the business services provider’s stock after buying an additional 3,753 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Broadridge Financial Solutions were worth $2,434,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Qsemble Capital Management LP bought a new stake in Broadridge Financial Solutions in the 3rd quarter valued at $1,412,000. Atria Investments Inc boosted its position in shares of Broadridge Financial Solutions by 9.7% during the 3rd quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock valued at $6,373,000 after acquiring an additional 2,610 shares in the last quarter. Horizon Kinetics Asset Management LLC bought a new stake in Broadridge Financial Solutions in the third quarter valued at about $483,000. Quest Partners LLC acquired a new position in Broadridge Financial Solutions in the third quarter worth about $2,251,000. Finally, Legacy Capital Wealth Partners LLC lifted its stake in Broadridge Financial Solutions by 82.7% during the third quarter. Legacy Capital Wealth Partners LLC now owns 7,107 shares of the business services provider’s stock worth $1,528,000 after purchasing an additional 3,216 shares during the period. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

NYSE:BR opened at $227.07 on Wednesday. Broadridge Financial Solutions, Inc. has a 52-week low of $188.30 and a 52-week high of $237.96. The company has a market cap of $26.54 billion, a P/E ratio of 39.29 and a beta of 1.08. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. The stock’s 50-day simple moving average is $228.78 and its 200 day simple moving average is $217.15.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.09 EPS. As a group, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

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 $0.88 dividend. The ex-dividend date was Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.55%. Broadridge Financial Solutions’s payout ratio is 60.90%.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 10,757 shares of the stock in a transaction dated Monday, November 11th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Douglas Richard Deschutter sold 24,185 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $220.21, for a total value of $5,325,778.85. Following the sale, the insider now owns 27,137 shares of the company’s stock, valued at approximately $5,975,838.77. This represents a 47.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,532 shares of company stock worth $12,264,846. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BR. Royal Bank of Canada reiterated an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. DA Davidson increased their target price on shares of Broadridge Financial Solutions from $210.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, UBS Group started coverage on shares of Broadridge Financial Solutions in a research note on Thursday, November 21st. They issued a “neutral” rating and a $250.00 target price for the company. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $226.71.

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.