Alta Capital Management LLC Sells 1,787 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Alta Capital Management LLC reduced its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,358 shares of the business services provider’s stock after selling 1,787 shares during the quarter. Broadridge Financial Solutions accounts for approximately 1.1% of Alta Capital Management LLC’s investment portfolio, making the stock its 27th biggest holding. Alta Capital Management LLC owned approximately 0.07% of Broadridge Financial Solutions worth $19,073,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. True Wealth Design LLC raised its position in shares of Broadridge Financial Solutions by 2,028.6% in the third 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 during the period. Fortitude Family Office LLC increased its position in 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 acquiring an additional 111 shares during the period. Hazlett Burt & Watson Inc. bought a new position in Broadridge Financial Solutions during the third quarter worth about $38,000. Global X Japan Co. Ltd. bought a new position in Broadridge Financial Solutions during the fourth quarter worth about $41,000. Finally, FSA Wealth Management LLC bought a new position in Broadridge Financial Solutions during the third quarter worth about $39,000. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Trading Up 1.4 %

BR opened at $244.62 on Tuesday. The company’s 50 day moving average is $234.25 and its 200-day moving average is $224.62. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $246.58. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The company has a market cap of $28.63 billion, a P/E ratio of 38.28 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates 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 prior year, the company posted $0.92 EPS. Equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm 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 of this dividend is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.44%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Brett Keller sold 5,442 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 15,536 shares in the company, valued at approximately $3,734,854.40. This trade represents a 25.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert N. Duelks sold 485 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $237.93, for a total transaction of $115,396.05. Following the transaction, the director now owns 4,960 shares of the company’s stock, valued at approximately $1,180,132.80. The trade was a 8.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,441 shares of company stock worth $1,547,835 in the last quarter. 1.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BR has been the topic of a number of recent research reports. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. DA Davidson reaffirmed a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. UBS Group increased their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. increased their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada increased their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $239.17.

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.