Occidental Asset Management LLC Buys 1,223 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Occidental Asset Management LLC lifted its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.8% during the 4th quarter, HoldingsChannel reports. The firm owned 19,276 shares of the business services provider’s stock after acquiring an additional 1,223 shares during the quarter. Occidental Asset Management LLC’s holdings in Broadridge Financial Solutions were worth $4,358,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. State Street Corp lifted its position in Broadridge Financial Solutions by 1.0% during the third quarter. State Street Corp now owns 5,181,715 shares of the business services provider’s stock valued at $1,118,644,000 after purchasing an additional 51,439 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Broadridge Financial Solutions by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider’s stock valued at $643,018,000 after acquiring an additional 15,208 shares during the last quarter. Stifel Financial Corp grew its position in Broadridge Financial Solutions by 0.4% in the third quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider’s stock worth $342,856,000 after acquiring an additional 5,813 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Broadridge Financial Solutions by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock worth $185,417,000 after acquiring an additional 72,018 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Broadridge Financial Solutions by 2.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider’s stock worth $194,585,000 after acquiring an additional 20,775 shares during the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BR has been the subject of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. DA Davidson raised their price target on Broadridge Financial Solutions from $210.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. UBS Group assumed coverage on shares of Broadridge Financial Solutions in a report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 target price for the company. Finally, StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $226.71.

Broadridge Financial Solutions Stock Up 1.4 %

NYSE:BR opened at $231.21 on Friday. The company has a market cap of $27.03 billion, a price-to-earnings ratio of 40.00 and a beta of 1.08. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $237.96. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. The stock has a fifty day simple moving average of $229.33 and a 200-day simple moving average of $217.53.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the business posted $1.09 EPS. Analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were paid a $0.88 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $3.52 annualized dividend and a yield of 1.52%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 60.90%.

Insiders Place Their Bets

In other news, insider Douglas Richard Deschutter sold 24,185 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $220.21, for a total value of $5,325,778.85. Following the completion of the sale, the insider now owns 27,137 shares in the company, valued at approximately $5,975,838.77. The trade was a 47.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Thomas P. Carey sold 10,757 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the transaction, the vice president now owns 12,689 shares in the company, valued at approximately $2,878,118.98. This represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,532 shares of company stock worth $12,264,846 in the last ninety days. 1.30% of the stock is owned by company insiders.

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.