Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Purchased by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC grew its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 98.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,433 shares of the business services provider's stock after acquiring an additional 1,204 shares during the quarter. Miracle Mile Advisors LLC's holdings in Broadridge Financial Solutions were worth $550,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in BR. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Broadridge Financial Solutions in the third quarter worth approximately $44,746,000. Assenagon Asset Management S.A. increased its position in Broadridge Financial Solutions by 3,197.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider's stock worth $43,945,000 after purchasing an additional 198,169 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in Broadridge Financial Solutions by 2,302.8% in the third quarter. Benjamin Edwards Inc. now owns 147,004 shares of the business services provider's stock valued at $31,618,000 after buying an additional 140,886 shares during the period. International Assets Investment Management LLC acquired a new position in Broadridge Financial Solutions during the third quarter valued at approximately $274,650,000. Finally, BNP Paribas Financial Markets grew its stake in Broadridge Financial Solutions by 97.7% during the third quarter. BNP Paribas Financial Markets now owns 198,878 shares of the business services provider's stock worth $42,765,000 after buying an additional 98,275 shares during the period. Institutional investors and hedge funds own 90.03% of the company's stock.

Broadridge Financial Solutions Stock Up 1.4 %

Shares of BR traded up $3.12 during trading on Thursday, reaching $231.21. The company's stock had a trading volume of 422,879 shares, compared to its average volume of 521,188. The company has a market cap of $27.03 billion, a price-to-earnings ratio of 40.00 and a beta of 1.08. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63. The company has a fifty day moving average of $229.13 and a two-hundred day moving average of $217.43. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $237.96.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the firm earned $1.09 earnings per share. The business's revenue was down .6% compared to the same quarter last year. On average, sell-side analysts predict 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 was paid on Friday, January 3rd. Investors of record on Friday, December 13th were paid a $0.88 dividend. The ex-dividend date was Friday, December 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 60.90%.

Insider Activity at Broadridge Financial Solutions

In other news, insider Douglas Richard Deschutter sold 24,185 shares of Broadridge Financial Solutions 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 transaction, the insider now directly owns 27,137 shares of the company's stock, valued at approximately $5,975,838.77. The trade was a 47.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Maura A. Markus sold 3,880 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the sale, the director now owns 27,788 shares in the company, valued at approximately $6,308,431.76. This trade represents a 12.25 % decrease in their position. 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 over the last three months. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

BR has been the topic of a number of research reports. StockNews.com downgraded shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, November 9th. Morgan Stanley boosted their price objective 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. UBS Group began coverage on Broadridge Financial Solutions in a report on Thursday, November 21st. They set a "neutral" rating and a $250.00 target price on the stock. Wolfe Research restated a "peer perform" rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Finally, DA Davidson lifted their price objective on shares of Broadridge Financial Solutions from $210.00 to $215.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of "Hold" and a consensus price target of $226.71.

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.