McCollum Christoferson Group LLC Trims Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

McCollum Christoferson Group LLC cut its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,043 shares of the business services provider’s stock after selling 125 shares during the period. Broadridge Financial Solutions makes up 2.6% of McCollum Christoferson Group LLC’s portfolio, making the stock its 13th largest holding. McCollum Christoferson Group LLC’s holdings in Broadridge Financial Solutions were worth $8,827,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in BR. Adero Partners LLC lifted its stake in Broadridge Financial Solutions by 2.5% in the fourth quarter. Adero Partners LLC now owns 1,837 shares of the business services provider’s stock worth $415,000 after purchasing an additional 45 shares during the last quarter. Sunburst Financial Group LLC lifted its stake in shares of Broadridge Financial Solutions by 4.8% during the 4th quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider’s stock worth $229,000 after acquiring an additional 46 shares during the last quarter. Avestar Capital LLC boosted its holdings in Broadridge Financial Solutions by 4.0% during the 3rd quarter. Avestar Capital LLC now owns 1,248 shares of the business services provider’s stock valued at $268,000 after acquiring an additional 48 shares during the period. Foundations Investment Advisors LLC boosted its holdings in Broadridge Financial Solutions by 3.5% during the 4th quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider’s stock valued at $345,000 after acquiring an additional 52 shares during the period. Finally, TCTC Holdings LLC grew its position in Broadridge Financial Solutions by 0.9% in the 4th quarter. TCTC Holdings LLC now owns 5,979 shares of the business services provider’s stock valued at $1,352,000 after acquiring an additional 52 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $233.03 on Monday. The company’s 50 day moving average is $236.05 and its 200 day moving average is $226.84. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The firm has a market cap of $27.27 billion, a price-to-earnings ratio of 36.47 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 52-week low of $188.30 and a 52-week high of $246.58.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly 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 return on equity of 44.40% and a net margin of 11.36%. During the same period last year, the business posted $0.92 earnings per share. On average, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 55.09%.

Insider Transactions at Broadridge Financial Solutions

In other news, Director Robert N. Duelks sold 485 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $237.93, for a total transaction of $115,396.05. Following the sale, the director now owns 4,960 shares in the company, valued at approximately $1,180,132.80. The trade was a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy C. Gokey sold 95,956 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the transaction, the chief executive officer now owns 169,788 shares in the company, valued at approximately $39,973,188.84. This trade represents a 36.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 124,754 shares of company stock valued at $29,397,793 in the last 90 days. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

BR has been the subject of a number of recent analyst reports. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Royal Bank of Canada upped their target price 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. Morgan Stanley raised their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Finally, UBS Group raised their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Hold” and a consensus target price of $239.17.

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.