Broadridge Financial Solutions, Inc. (BR) Holdings Reduced by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 31,481 shares of the business services provider’s stock after selling 210 shares during the period. State of Alaska Department of Revenue’s holdings in Broadridge Financial Solutions were worth $3,263,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Whittier Trust Co. boosted its holdings in Broadridge Financial Solutions by 117.3% during the fourth quarter. Whittier Trust Co. now owns 289 shares of the business services provider’s stock worth $28,000 after buying an additional 156 shares in the last quarter. Pinnacle Bank bought a new stake in Broadridge Financial Solutions during the fourth quarter worth approximately $34,000. 1832 Asset Management L.P. bought a new stake in Broadridge Financial Solutions during the fourth quarter worth approximately $39,000. Capital Financial Planning LLC bought a new stake in Broadridge Financial Solutions during the fourth quarter worth approximately $39,000. Finally, CX Institutional bought a new stake in Broadridge Financial Solutions during the fourth quarter worth approximately $41,000. Hedge funds and other institutional investors own 84.15% of the company’s stock.

In other Broadridge Financial Solutions news, Director Alan J. Weber sold 1,980 shares of the stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $100.36, for a total value of $198,712.80. Following the completion of the sale, the director now owns 51,588 shares in the company, valued at approximately $5,177,371.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Thomas P. Carey sold 1,215 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $108.82, for a total transaction of $132,216.30. Following the completion of the sale, the vice president now owns 4,202 shares of the company’s stock, valued at approximately $457,261.64. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.

Shares of NYSE:BR opened at $111.49 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.62 and a quick ratio of 1.62. The company has a market capitalization of $12.90 billion, a P/E ratio of 26.61, a PEG ratio of 2.39 and a beta of 0.84. Broadridge Financial Solutions, Inc. has a 52 week low of $91.34 and a 52 week high of $138.24.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Thursday, February 7th. The business services provider reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.15). The firm had revenue of $953.40 million during the quarter, compared to analysts’ expectations of $967.21 million. Broadridge Financial Solutions had a net margin of 10.25% and a return on equity of 43.95%. The firm’s revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.79 EPS. On average, research analysts expect that Broadridge Financial Solutions, Inc. will post 4.62 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Friday, March 15th were given a $0.485 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.94 annualized dividend and a dividend yield of 1.74%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 46.30%.

BR has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a research report on Wednesday, April 10th. SunTrust Banks restated a “buy” rating and issued a $110.00 price target on shares of Broadridge Financial Solutions in a research report on Sunday, January 6th. DA Davidson upgraded shares of Broadridge Financial Solutions from a “neutral” rating to a “buy” rating and set a $116.00 price target for the company in a research report on Friday, February 8th. Finally, Raymond James upgraded shares of Broadridge Financial Solutions from a “market perform” rating to an “outperform” rating and set a $118.00 price target for the company in a research report on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $117.67.

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Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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