American Money Management LLC Grows Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

American Money Management LLC boosted its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 34,114 shares of the business services provider’s stock after acquiring an additional 121 shares during the period. Broadridge Financial Solutions comprises approximately 1.5% of American Money Management LLC’s holdings, making the stock its 21st biggest holding. American Money Management LLC’s holdings in Broadridge Financial Solutions were worth $7,713,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in BR. Thrivent Financial for Lutherans grew its holdings in shares of Broadridge Financial Solutions by 24.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 6,204 shares of the business services provider’s stock worth $1,335,000 after purchasing an additional 1,219 shares during the period. Algert Global LLC acquired a new position in Broadridge Financial Solutions during the third quarter valued at approximately $542,000. D.A. Davidson & CO. purchased a new stake in Broadridge Financial Solutions during the third quarter worth approximately $212,000. FMR LLC increased its position in shares of Broadridge Financial Solutions by 9.7% in the third quarter. FMR LLC now owns 80,194 shares of the business services provider’s stock worth $17,244,000 after acquiring an additional 7,077 shares in the last quarter. Finally, Glenmede Trust Co. NA raised its stake in shares of Broadridge Financial Solutions by 3.3% in the 3rd quarter. Glenmede Trust Co. NA now owns 4,419 shares of the business services provider’s stock valued at $950,000 after acquiring an additional 143 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Trading Down 0.5 %

NYSE:BR opened at $237.60 on Friday. The stock has a market cap of $27.80 billion, a price-to-earnings ratio of 37.18 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $246.58. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. The business’s 50-day simple moving average is $236.97 and its 200 day simple moving average is $227.66.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data 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 prior year, the firm posted $0.92 EPS. As a group, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared 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 1.48%. Broadridge Financial Solutions’s dividend payout ratio is presently 55.09%.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total transaction of $124,182.40. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Brett Keller sold 5,442 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 15,536 shares in the company, valued at approximately $3,734,854.40. This represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 124,754 shares of company stock worth $29,397,793 in the last ninety days. 1.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BR has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. UBS Group increased their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Royal Bank of Canada upped their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, Morgan Stanley lifted their price objective on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $241.00.

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.