Parnassus Investments LLC Sells 30,569 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Parnassus Investments LLC lessened its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 6.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 459,592 shares of the business services provider's stock after selling 30,569 shares during the quarter. Parnassus Investments LLC owned about 0.39% of Broadridge Financial Solutions worth $103,909,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Qsemble Capital Management LP purchased a new position in Broadridge Financial Solutions in the 3rd quarter valued at $1,412,000. Horizon Kinetics Asset Management LLC acquired a new position in shares of Broadridge Financial Solutions during the 3rd quarter worth approximately $483,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Broadridge Financial Solutions by 53.5% in the fourth 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 acquiring an additional 3,753 shares in the last quarter. Miracle Mile Advisors LLC lifted its holdings in 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 purchasing an additional 1,204 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Broadridge Financial Solutions during the third quarter valued at approximately $2,251,000. Institutional investors and hedge funds own 90.03% of the company's stock.

Insider Buying and Selling

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 485 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $237.93, for a total transaction of $115,396.05. Following the transaction, the director now directly owns 4,960 shares in the company, valued at approximately $1,180,132.80. The trade was a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Laura Matlin sold 514 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $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 sold a total of 124,754 shares of company stock worth $29,397,793 over the last three months. 1.30% of the stock is currently owned by company insiders.

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Broadridge Financial Solutions Stock Performance

BR traded down $0.36 on Tuesday, hitting $231.11. The company had a trading volume of 471,722 shares, compared to its average volume of 472,349. The stock has a market cap of $27.04 billion, a price-to-earnings ratio of 36.17 and a beta of 1.05. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick 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 company's fifty day moving average price is $235.52 and its 200 day moving average price is $226.24.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share (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 quarter in the previous year, the firm earned $0.92 EPS. Equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be paid a $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.52%. Broadridge Financial Solutions's dividend payout ratio (DPR) is currently 55.09%.

Analyst Upgrades and Downgrades

A number of brokerages recently 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 report on Monday, February 3rd. Morgan Stanley boosted their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an "equal weight" rating in a research note on Monday, February 3rd. Royal Bank of Canada raised their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. UBS Group boosted their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Finally, DA Davidson reiterated a "neutral" rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $239.17.

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.