Amalgamated Bank Sells 636 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Amalgamated Bank lessened its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,782 shares of the business services provider’s stock after selling 636 shares during the period. Amalgamated Bank’s holdings in Broadridge Financial Solutions were worth $5,829,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. J.W. Cole Advisors Inc. bought a new stake in shares of Broadridge Financial Solutions in the 3rd quarter worth approximately $222,000. Nisa Investment Advisors LLC lifted its stake in Broadridge Financial Solutions by 4.4% in the third quarter. Nisa Investment Advisors LLC now owns 43,137 shares of the business services provider’s stock worth $9,314,000 after acquiring an additional 1,825 shares during the period. MONECO Advisors LLC boosted its holdings in Broadridge Financial Solutions by 4.4% in the third quarter. MONECO Advisors LLC now owns 1,566 shares of the business services provider’s stock valued at $337,000 after acquiring an additional 66 shares in the last quarter. Avitas Wealth Management LLC purchased a new position in Broadridge Financial Solutions during the 3rd quarter valued at $1,129,000. Finally, First Trust Direct Indexing L.P. raised its holdings in Broadridge Financial Solutions by 22.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,795 shares of the business services provider’s stock worth $1,031,000 after purchasing an additional 864 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock opened at $237.17 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $27.75 billion, a P/E ratio of 37.12 and a beta of 1.08. The stock’s 50 day moving average is $233.55 and its 200 day moving average is $223.96. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $244.47.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Friday, January 31st. The business services provider reported $1.56 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 prior year, the business earned $0.92 EPS. On average, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.88 per share. The ex-dividend date is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.48%. Broadridge Financial Solutions’s dividend payout ratio is currently 55.09%.

Insiders Place Their Bets

In other news, VP Thomas P. Carey sold 15,710 shares of the business’s stock in a transaction 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 completion of the transaction, the vice president now owns 12,146 shares in the company, valued at $2,797,466.72. The trade was a 56.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Laura Matlin sold 514 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the sale, the vice president now directly owns 6,602 shares in the company, valued at $1,595,043.20. This trade represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,666 shares of company stock valued at $5,050,766. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BR. 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. JPMorgan Chase & Co. upped their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. UBS Group increased their target price 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. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $239.17.

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.