Mystic Asset Management Inc. Increases Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Mystic Asset Management Inc. boosted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 12.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,780 shares of the business services provider’s stock after acquiring an additional 200 shares during the period. Mystic Asset Management Inc.’s holdings in Broadridge Financial Solutions were worth $402,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BR. Qsemble Capital Management LP purchased a new stake in shares of Broadridge Financial Solutions in the 3rd quarter valued at approximately $1,412,000. Horizon Kinetics Asset Management LLC purchased a new stake in shares of Broadridge Financial Solutions in the 3rd quarter valued at approximately $483,000. Thurston Springer Miller Herd & Titak Inc. grew its stake 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 valued at $2,434,000 after buying an additional 3,753 shares during the period. Miracle Mile Advisors LLC grew its stake in shares of Broadridge Financial Solutions by 98.0% in the 4th quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider’s stock valued at $550,000 after buying an additional 1,204 shares during the period. Finally, Quest Partners LLC purchased a new stake in shares of Broadridge Financial Solutions in the 3rd quarter valued at approximately $2,251,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Timothy C. Gokey sold 95,956 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Christopher John Perry sold 22,357 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were 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 owns 52,524 shares in the company, valued at $12,355,220.52. The trade was a 29.86 % 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 worth $29,397,793 in the last ninety days. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Royal Bank of Canada increased their price target on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. DA Davidson reaffirmed a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. UBS Group increased their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley increased their price objective 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. Five 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 $239.17.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $231.11 on Wednesday. The stock has a market capitalization of $27.04 billion, a P/E ratio of 36.17 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week 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 company has a 50 day moving average price of $235.61 and a 200 day moving average price of $226.37.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping 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 quarter last year, the firm posted $0.92 EPS. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be issued 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 1.52%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

Broadridge Financial Solutions 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.