Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC decreased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.7% during the 4th quarter, HoldingsChannel reports. The fund owned 187,994 shares of the business services provider’s stock after selling 7,155 shares during the quarter. Broadridge Financial Solutions comprises approximately 1.2% of Anchor Capital Advisors LLC’s investment portfolio, making the stock its 26th largest holding. Anchor Capital Advisors LLC’s holdings in Broadridge Financial Solutions were worth $42,504,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC grew its holdings in Broadridge Financial Solutions by 2,028.6% during the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after acquiring an additional 142 shares in the last quarter. Fortitude Family Office LLC lifted its position in shares of Broadridge Financial Solutions by 246.7% during the fourth 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. acquired a new position in Broadridge Financial Solutions in the third quarter worth about $38,000. FSA Wealth Management LLC bought a new stake in Broadridge Financial Solutions in the third quarter valued at about $39,000. Finally, Global X Japan Co. Ltd. acquired a new stake in Broadridge Financial Solutions during the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on BR. JPMorgan Chase & Co. lifted their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada increased their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Morgan Stanley lifted their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Broadridge Financial Solutions has an average rating of “Hold” and an average target price of $239.17.

Broadridge Financial Solutions Stock Up 0.3 %

BR stock opened at $237.17 on Friday. The stock has a market cap of $27.75 billion, a PE ratio of 37.12 and a beta of 1.08. The firm’s 50-day simple moving average is $233.55 and its 200 day simple moving average is $223.96. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $244.47. 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 (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 net margin of 11.36% and a return on equity of 44.40%. During the same period in the previous year, the business posted $0.92 earnings per share. As a group, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.48%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is currently 55.09%.

Insiders Place Their Bets

In related news, VP Thomas P. Carey sold 15,710 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total value of $3,618,327.20. Following the completion of the sale, the vice president now owns 12,146 shares of the company’s stock, valued at $2,797,466.72. This represents a 56.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Brett Keller sold 5,442 shares of the firm’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 transaction, the director now directly owns 15,536 shares in the company, valued at approximately $3,734,854.40. The trade was a 25.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,666 shares of company stock worth $5,050,766. 1.30% of the stock is owned by company insiders.

About Broadridge Financial Solutions

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.