State of Alaska Department of Revenue Sells 1,345 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

State of Alaska Department of Revenue lessened its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 9.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,721 shares of the business services provider’s stock after selling 1,345 shares during the period. State of Alaska Department of Revenue’s holdings in Broadridge Financial Solutions were worth $2,616,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BR. OFI Invest Asset Management purchased a new position in Broadridge Financial Solutions in the third quarter worth about $25,000. Headinvest LLC purchased a new position in Broadridge Financial Solutions in the 3rd quarter worth approximately $32,000. BKM Wealth Management LLC bought a new position in Broadridge Financial Solutions in the 4th quarter valued at approximately $37,000. First Command Advisory Services Inc. purchased a new stake in Broadridge Financial Solutions during the 3rd quarter valued at $34,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth $39,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Royal Bank of Canada upped their price target on Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Morgan Stanley lifted their price target on shares of Broadridge Financial Solutions from $175.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, December 8th. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, March 27th. Raymond James lifted their target price on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Finally, Evercore ISI reiterated an “outperform” rating and set a $230.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Broadridge Financial Solutions currently has an average rating of “Hold” and a consensus price target of $203.17.

Insiders Place Their Bets

In other news, insider Douglas Richard Deschutter sold 12,200 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the sale, the insider now directly owns 32,480 shares in the company, valued at approximately $6,648,980.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 12,731 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total value of $2,559,185.62. Following the completion of the transaction, the vice president now directly owns 13,303 shares in the company, valued at approximately $2,674,169.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas Richard Deschutter sold 12,200 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the sale, the insider now directly owns 32,480 shares of the company’s stock, valued at $6,648,980.80. The disclosure for this sale can be found here. Insiders sold a total of 48,483 shares of company stock worth $9,745,637 over the last three months. 1.60% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Trading Down 0.4 %

Shares of BR stock opened at $198.59 on Friday. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.40 and a quick ratio of 1.40. The company has a market cap of $23.39 billion, a price-to-earnings ratio of 34.60 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a 1 year low of $139.35 and a 1 year high of $210.24. The firm has a fifty day moving average price of $201.50 and a 200-day moving average price of $192.76.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. Broadridge Financial Solutions’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, equities analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Friday, March 15th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.61%. The ex-dividend date is Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio is currently 55.75%.

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.