SRN Advisors LLC Decreases Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

SRN Advisors LLC lessened its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 11.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,434 shares of the business services provider’s stock after selling 432 shares during the quarter. SRN Advisors LLC’s holdings in Broadridge Financial Solutions were worth $776,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC increased its position in shares of Broadridge Financial Solutions by 2,028.6% during the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after purchasing an additional 142 shares in the last quarter. Fortitude Family Office LLC increased its position in Broadridge Financial Solutions by 246.7% during the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after buying an additional 111 shares during the period. Hazlett Burt & Watson Inc. purchased a new stake in Broadridge Financial Solutions in the third quarter valued at approximately $38,000. FSA Wealth Management LLC acquired a new stake in shares of Broadridge Financial Solutions in the third quarter valued at approximately $39,000. Finally, Global X Japan Co. Ltd. purchased a new position in shares of Broadridge Financial Solutions during the fourth quarter worth approximately $41,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BR shares. DA Davidson reaffirmed a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. JPMorgan Chase & Co. upped their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. UBS Group increased their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Finally, Royal Bank of Canada increased their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $239.17.

Insiders Place Their Bets

In related 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Brett Keller sold 5,442 shares of Broadridge Financial Solutions stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total value of $1,308,256.80. Following the transaction, the director now directly owns 15,536 shares of the company’s stock, valued at approximately $3,734,854.40. This represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,666 shares of company stock worth $5,050,766. 1.30% of the stock is owned by company insiders.

Broadridge Financial Solutions Stock Down 0.1 %

BR opened at $236.58 on Thursday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $244.47. The stock has a market capitalization of $27.68 billion, a P/E ratio of 37.02 and a beta of 1.08. The business has a 50 day simple moving average of $233.29 and a 200-day simple moving average of $223.87.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period in the previous year, the business earned $0.92 earnings per share. On average, equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 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.