Douglas Lane & Associates LLC Decreases Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Douglas Lane & Associates LLC decreased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,823 shares of the business services provider’s stock after selling 2,333 shares during the period. Douglas Lane & Associates LLC owned 0.06% of Broadridge Financial Solutions worth $14,882,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bogart Wealth LLC raised its stake in shares of Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 96 shares during the period. True Wealth Design LLC raised its position in Broadridge Financial Solutions by 2,028.6% in the 3rd 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 during the period. Hazlett Burt & Watson Inc. purchased a new stake in Broadridge Financial Solutions in the 3rd quarter worth about $38,000. FSA Wealth Management LLC bought a new stake in shares of Broadridge Financial Solutions during the 3rd quarter worth approximately $39,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of Broadridge Financial Solutions during the third quarter valued at $45,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

NYSE:BR opened at $229.42 on Thursday. The firm’s fifty day moving average is $227.87 and its two-hundred day moving average is $216.51. The firm has a market cap of $26.82 billion, a price-to-earnings ratio of 39.69 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. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $237.96.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The company’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 earnings per share. Research analysts expect that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

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 dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 60.90%.

Analyst Ratings Changes

A number of brokerages recently issued reports 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 report on Wednesday, November 6th. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. DA Davidson boosted their price objective on shares of Broadridge Financial Solutions from $210.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. 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. Finally, StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of “Hold” and an average price target of $226.71.

Insider Activity at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 15,710 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,797,466.72. This represents a 56.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Douglas Richard Deschutter sold 24,185 shares of the 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 transaction, the insider now owns 27,137 shares in the company, valued at $5,975,838.77. This represents a 47.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,532 shares of company stock worth $12,264,846 in the last three months. Company insiders own 1.30% of the company’s stock.

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.