Mcrae Capital Management Inc. Decreases Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Mcrae Capital Management Inc. reduced its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,589 shares of the business services provider’s stock after selling 610 shares during the period. Broadridge Financial Solutions accounts for about 2.7% of Mcrae Capital Management Inc.’s portfolio, making the stock its 18th largest holding. Mcrae Capital Management Inc.’s holdings in Broadridge Financial Solutions were worth $13,925,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Bogart Wealth LLC boosted 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 worth $26,000 after acquiring an additional 96 shares during the last quarter. True Wealth Design LLC lifted its holdings 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 valued at $32,000 after purchasing an additional 142 shares in the last quarter. Fortitude Family Office LLC boosted its stake in 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 purchasing an additional 111 shares during the last quarter. Hazlett Burt & Watson Inc. purchased a new stake in shares of Broadridge Financial Solutions during the third quarter worth $38,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Broadridge Financial Solutions during the third quarter worth $39,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Up 0.1 %

Shares of NYSE BR opened at $242.70 on Friday. The company has a market capitalization of $28.40 billion, a P/E ratio of 37.98 and a beta of 1.08. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.39. The company has a 50 day simple moving average of $232.39 and a 200-day simple moving average of $222.32. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $243.63.

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 return on equity of 44.40% and a net margin of 11.36%. During the same quarter in the previous year, the business earned $0.92 earnings per share. On average, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be issued a $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a yield of 1.45%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 55.09%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BR shares. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. JPMorgan Chase & Co. boosted 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. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. UBS Group lifted their price objective 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. Finally, DA Davidson restated a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $239.17.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, Director Brett Keller sold 5,442 shares of Broadridge Financial Solutions stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total value of $1,308,256.80. Following the completion of the sale, the director now directly owns 15,536 shares of the company’s stock, valued at approximately $3,734,854.40. The trade was a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Laura Matlin sold 514 shares of the business’s 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 completion of the sale, the vice president now owns 6,602 shares in the company, valued at $1,595,043.20. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,666 shares of company stock valued at $5,050,766 over the last 90 days. 1.30% of the stock is owned by insiders.

Broadridge Financial Solutions Company 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.