Summit Financial LLC Has $1.20 Million Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Summit Financial LLC raised its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 16.9% during the 4th quarter, HoldingsChannel reports. The firm owned 5,272 shares of the business services provider’s stock after purchasing an additional 761 shares during the quarter. Summit Financial LLC’s holdings in Broadridge Financial Solutions were worth $1,197,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. grew its stake in Broadridge Financial Solutions by 53.5% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock valued at $2,434,000 after buying an additional 3,753 shares during the last quarter. Miracle Mile Advisors LLC grew its position in shares of Broadridge Financial Solutions by 98.0% in the fourth quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider’s stock valued at $550,000 after purchasing an additional 1,204 shares during the last quarter. Y Intercept Hong Kong Ltd increased its stake in shares of Broadridge Financial Solutions by 121.3% in the third quarter. Y Intercept Hong Kong Ltd now owns 11,561 shares of the business services provider’s stock worth $2,486,000 after purchasing an additional 6,336 shares during the period. Park Place Capital Corp lifted its position in shares of Broadridge Financial Solutions by 31.3% during the 4th quarter. Park Place Capital Corp now owns 5,831 shares of the business services provider’s stock worth $1,318,000 after purchasing an additional 1,391 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake in Broadridge Financial Solutions by 6.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 35,497 shares of the business services provider’s stock valued at $7,633,000 after purchasing an additional 2,279 shares during the period. Institutional investors own 90.03% of the company’s stock.

Insider Activity at Broadridge Financial Solutions

In other news, Director Brett Keller sold 5,442 shares of the firm’s 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 in the company, valued at approximately $3,734,854.40. This trade represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Laura Matlin sold 514 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total transaction of $124,182.40. Following the transaction, the vice president now owns 6,602 shares in the company, valued at approximately $1,595,043.20. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 124,754 shares of company stock valued at $29,397,793 in the last ninety days. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

BR has been the subject of a number of research analyst reports. Morgan Stanley upped their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Tuesday. UBS Group increased 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 note on Monday, February 3rd. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $241.00.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $244.70 on Wednesday. The firm has a market capitalization of $28.63 billion, a PE ratio of 38.29 and a beta of 1.05. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $246.58. The firm has a 50-day moving average price of $237.43 and a 200 day moving average price of $228.23.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Friday, January 31st. The business services provider reported $1.56 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 prior year, the firm posted $0.92 earnings per share. Research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share 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. Investors of record on Thursday, March 13th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 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.