Miracle Mile Advisors LLC Has $550,000 Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Miracle Mile Advisors LLC grew its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 98.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,433 shares of the business services provider’s stock after purchasing an additional 1,204 shares during the period. Miracle Mile Advisors LLC’s holdings in Broadridge Financial Solutions were worth $550,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Bogart Wealth LLC raised its holdings in shares of Broadridge Financial Solutions by 384.0% in the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 96 shares during the period. True Wealth Design LLC lifted its position in shares of Broadridge Financial Solutions by 2,028.6% in the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after buying an additional 142 shares during the last quarter. Fortitude Family Office LLC boosted its stake in shares of Broadridge Financial Solutions by 246.7% during the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after acquiring an additional 111 shares during the period. Hazlett Burt & Watson Inc. acquired a new position in shares of Broadridge Financial Solutions during the 3rd quarter worth approximately $38,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Broadridge Financial Solutions during the third quarter worth $39,000. Institutional investors own 90.03% of the company’s stock.

Insider Activity

In other news, insider Douglas Richard Deschutter sold 24,185 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the completion of the transaction, the insider now directly owns 27,137 shares in the company, valued at $5,975,838.77. This trade represents a 47.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Maura A. Markus sold 3,880 shares of Broadridge Financial Solutions stock in a transaction dated Monday, November 11th. The shares were 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 trade represents a 12.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,532 shares of company stock worth $12,264,846 in the last quarter. 1.30% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock opened at $228.09 on Thursday. The business has a 50 day moving average of $228.96 and a 200-day moving average of $217.36. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $237.96. The company has a market capitalization of $26.66 billion, a P/E ratio of 39.46 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 for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 EPS. On average, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were issued a $0.88 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.54%. Broadridge Financial Solutions’s payout ratio is currently 60.90%.

Analyst Ratings Changes

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

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.