Oppenheimer Asset Management Inc. Has $2.90 Million Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Oppenheimer Asset Management Inc. lowered its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.4% during the fourth quarter, Holdings Channel reports. The firm owned 12,845 shares of the business services provider’s stock after selling 47 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Broadridge Financial Solutions were worth $2,904,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BR. US Bancorp DE lifted its position in shares of Broadridge Financial Solutions by 4.5% in the 3rd quarter. US Bancorp DE now owns 55,270 shares of the business services provider’s stock worth $11,885,000 after purchasing an additional 2,385 shares during the period. Chicago Partners Investment Group LLC acquired a new position in shares of Broadridge Financial Solutions during the 3rd quarter valued at $216,000. Princeton Global Asset Management LLC lifted its position in shares of Broadridge Financial Solutions by 7.2% during the 3rd quarter. Princeton Global Asset Management LLC now owns 17,472 shares of the business services provider’s stock valued at $3,757,000 after acquiring an additional 1,170 shares during the period. Harbor Capital Advisors Inc. lifted its position in shares of Broadridge Financial Solutions by 56.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 9,386 shares of the business services provider’s stock valued at $2,018,000 after acquiring an additional 3,391 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of Broadridge Financial Solutions by 11.0% during the 3rd quarter. Van ECK Associates Corp now owns 20,967 shares of the business services provider’s stock valued at $4,536,000 after acquiring an additional 2,079 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Brett Keller sold 5,442 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the sale, the director now directly owns 15,536 shares of the company’s stock, valued at $3,734,854.40. This represents a 25.94 % 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, Director Robert N. Duelks sold 485 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $237.93, for a total transaction of $115,396.05. Following the completion of the sale, the director now directly owns 4,960 shares in the company, valued at approximately $1,180,132.80. The trade was a 8.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,151 shares of company stock worth $5,166,162 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BR. Royal Bank of Canada boosted their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Morgan Stanley boosted their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. UBS Group boosted their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. DA Davidson restated a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Finally, StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of “Hold” and an average price target of $239.17.

Broadridge Financial Solutions Stock Performance

BR opened at $241.26 on Monday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The company’s fifty day moving average price is $233.85 and its two-hundred day moving average price is $224.37. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $244.47. The company has a market cap of $28.23 billion, a price-to-earnings ratio of 37.76 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results 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 net margin of 11.36% and a return on equity of 44.40%. During the same period last year, the business posted $0.92 earnings per share. On average, analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.46%. Broadridge Financial Solutions’s payout ratio is 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.