Cornercap Investment Counsel Inc. Trims Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Cornercap Investment Counsel Inc. trimmed its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.8% in the 4th quarter, HoldingsChannel reports. The fund owned 3,342 shares of the business services provider’s stock after selling 133 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Broadridge Financial Solutions were worth $756,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Broadridge Financial Solutions by 53.5% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock worth $2,434,000 after acquiring an additional 3,753 shares during the last quarter. Miracle Mile Advisors LLC lifted its stake in Broadridge Financial Solutions by 98.0% during the fourth quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider’s stock worth $550,000 after purchasing an additional 1,204 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of Broadridge Financial Solutions by 121.3% during the third quarter. Y Intercept Hong Kong Ltd now owns 11,561 shares of the business services provider’s stock worth $2,486,000 after buying an additional 6,336 shares during the period. Park Place Capital Corp boosted its position in shares of Broadridge Financial Solutions by 31.3% during the fourth quarter. Park Place Capital Corp now owns 5,831 shares of the business services provider’s stock worth $1,318,000 after buying an additional 1,391 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Broadridge Financial Solutions by 6.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 35,497 shares of the business services provider’s stock valued at $7,633,000 after buying an additional 2,279 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 company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $246.58. The stock has a market cap of $27.80 billion, a P/E ratio of 37.18 and a beta of 1.05. The stock has a 50-day simple moving average of $236.97 and a 200-day simple moving average of $227.66.

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, 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 business posted $0.92 EPS. As a group, analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be paid a dividend of $0.88 per share. 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 1.48%. Broadridge Financial Solutions’s dividend payout ratio is presently 55.09%.

Analyst Ratings Changes

Several research firms have weighed in on BR. JPMorgan Chase & Co. lifted their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. DA Davidson reaffirmed a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. UBS Group boosted their price target 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. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Finally, Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $241.00.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, President Christopher John Perry sold 22,357 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the completion of the sale, the president now directly owns 52,524 shares of the company’s stock, valued at $12,355,220.52. This represents a 29.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $235.43, for a total value of $22,590,921.08. Following the completion of the transaction, the chief executive officer now owns 169,788 shares in the company, valued at $39,973,188.84. This trade represents a 36.11 % decrease in their ownership of the stock. 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 over the last quarter. Company insiders own 1.30% of the company’s stock.

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.