Optimize Financial Inc Takes Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Optimize Financial Inc purchased a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,604 shares of the business services provider's stock, valued at approximately $363,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank bought a new position in Broadridge Financial Solutions during the fourth quarter worth $106,904,000. Raymond James Financial Inc. bought a new position in Broadridge Financial Solutions in the 4th quarter valued at about $104,466,000. Corient Private Wealth LLC boosted its holdings in shares of Broadridge Financial Solutions by 882.9% during the fourth quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider's stock worth $99,186,000 after acquiring an additional 392,695 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $25,773,000. Finally, American Century Companies Inc. lifted its holdings in Broadridge Financial Solutions by 51.0% during the 4th quarter. American Century Companies Inc. now owns 252,984 shares of the business services provider's stock worth $57,197,000 after purchasing an additional 85,463 shares during the last quarter. Institutional investors own 90.03% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BR shares. StockNews.com cut Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research report on Thursday, April 10th. DA Davidson reiterated a "neutral" rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. UBS Group lifted their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Royal Bank of Canada lifted their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. Finally, Morgan Stanley raised their price target on 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. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $241.00.

Insider Buying and Selling

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 485 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $237.93, for a total transaction of $115,396.05. Following the completion of the transaction, the director now owns 4,960 shares in the company, valued at approximately $1,180,132.80. This trade represents a 8.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Laura Matlin sold 514 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total transaction of $124,182.40. Following the sale, the vice president now owns 6,602 shares of the company's stock, valued at approximately $1,595,043.20. This trade represents a 7.22 % 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 90 days. 1.30% of the stock is owned by insiders.

Broadridge Financial Solutions Price Performance

Shares of Broadridge Financial Solutions stock traded up $0.71 during midday trading on Friday, hitting $236.00. 533,679 shares of the company traded hands, compared to its average volume of 522,341. The stock has a market cap of $27.62 billion, a price-to-earnings ratio of 36.93 and a beta of 1.06. 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 firm's fifty day moving average price is $235.23 and its 200-day moving average price is $229.82. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $247.01.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly 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 return on equity of 44.40% and a net margin of 11.36%. During the same period in the previous year, the business posted $0.92 earnings per share. As a group, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th were issued a dividend of $0.88 per share. The ex-dividend date was Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.49%. 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.