Mitchell Mcleod Pugh & Williams Inc. Cuts Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Mitchell Mcleod Pugh & Williams Inc. lessened its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 35.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,062 shares of the business services provider’s stock after selling 1,110 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Broadridge Financial Solutions were worth $466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in BR. State Street Corp lifted its holdings in shares of Broadridge Financial Solutions by 1.0% during the 3rd quarter. State Street Corp now owns 5,181,715 shares of the business services provider’s stock worth $1,118,644,000 after acquiring an additional 51,439 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Broadridge Financial Solutions by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider’s stock valued at $643,018,000 after purchasing an additional 15,208 shares during the period. Stifel Financial Corp grew its holdings in shares of 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 purchasing an additional 5,813 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Broadridge Financial Solutions by 2.3% in 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 buying an additional 20,775 shares during the period. Finally, abrdn plc raised its holdings in Broadridge Financial Solutions by 5.5% during the 3rd quarter. abrdn plc now owns 536,083 shares of the business services provider’s stock valued at $114,451,000 after buying an additional 27,869 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Morgan Stanley raised their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. DA Davidson raised their price target on shares of Broadridge Financial Solutions from $210.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. UBS Group began coverage on Broadridge Financial Solutions in a report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price objective for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of “Hold” and an average price target of $226.71.

Insider Activity

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,880 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $227.02, for a total value of $880,837.60. Following the sale, the director now owns 27,788 shares of the company’s stock, valued at $6,308,431.76. The trade was a 12.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas P. Carey sold 15,710 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the sale, the vice president now owns 12,146 shares in the company, valued at approximately $2,797,466.72. This trade represents a 56.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,532 shares of company stock valued at $12,264,846 in the last three months. 1.30% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR opened at $230.35 on Tuesday. The firm’s 50 day simple moving average is $229.51 and its 200-day simple moving average is $218.25. The firm has a market cap of $26.93 billion, a PE ratio of 39.85 and a beta of 1.08. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $237.96. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39.

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

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 60.90%.

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.