Fenimore Asset Management Inc Has $70.74 Million Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Fenimore Asset Management Inc decreased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 312,872 shares of the business services provider’s stock after selling 321 shares during the quarter. Broadridge Financial Solutions makes up approximately 1.5% of Fenimore Asset Management Inc’s holdings, making the stock its 24th largest holding. Fenimore Asset Management Inc’s holdings in Broadridge Financial Solutions were worth $70,737,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Sei Investments Co. increased its stake in Broadridge Financial Solutions by 22.7% in the second quarter. Sei Investments Co. now owns 24,102 shares of the business services provider’s stock valued at $4,749,000 after purchasing an additional 4,465 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Broadridge Financial Solutions by 12.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 662 shares of the business services provider’s stock valued at $142,000 after purchasing an additional 71 shares in the last quarter. Public Sector Pension Investment Board grew its position 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 valued at $914,000 after purchasing an additional 2,060 shares during the period. Bank of Montreal Can grew its position in shares of Broadridge Financial Solutions by 8.1% in the 2nd quarter. Bank of Montreal Can now owns 111,043 shares of the business services provider’s stock valued at $22,432,000 after purchasing an additional 8,360 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Broadridge Financial Solutions by 61.1% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 22,556 shares of the business services provider’s stock worth $4,444,000 after purchasing an additional 8,551 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on BR. UBS Group began coverage on shares of Broadridge Financial Solutions in a research note on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price target on the stock. DA Davidson reaffirmed a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Morgan Stanley boosted their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $226.71.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 15,710 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the sale, the vice president now owns 12,146 shares in the company, valued at $2,797,466.72. This represents a 56.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Maura A. Markus sold 3,880 shares of Broadridge Financial Solutions 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 transaction, the director now owns 27,788 shares of the company’s stock, valued at $6,308,431.76. This represents a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,532 shares of company stock valued at $12,264,846. 1.30% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Trading Up 0.3 %

Shares of NYSE:BR opened at $237.48 on Friday. The company’s 50-day moving average price is $230.15 and its two-hundred day moving average price is $218.96. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $237.96. 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 stock has a market capitalization of $27.76 billion, a PE ratio of 41.09 and a beta of 1.08.

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, topping the consensus estimate of $0.97 by $0.03. The business had revenue of $1.42 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.09 earnings per share. On average, equities analysts forecast 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. Stockholders of record on Friday, December 13th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Friday, December 13th. Broadridge Financial Solutions’s payout ratio is presently 60.90%.

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.