Parsons Capital Management Inc. RI Sells 2,296 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Parsons Capital Management Inc. RI cut its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 10.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,509 shares of the business services provider's stock after selling 2,296 shares during the quarter. Parsons Capital Management Inc. RI's holdings in Broadridge Financial Solutions were worth $4,411,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Qsemble Capital Management LP acquired a new stake in Broadridge Financial Solutions during the third quarter valued at approximately $1,412,000. Atria Investments Inc boosted its stake in Broadridge Financial Solutions by 9.7% in the 3rd quarter. Atria Investments Inc now owns 29,638 shares of the business services provider's stock valued at $6,373,000 after buying an additional 2,610 shares in the last quarter. Horizon Kinetics Asset Management LLC bought a new stake in Broadridge Financial Solutions in the third quarter valued at $483,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in Broadridge Financial Solutions by 53.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider's stock worth $2,434,000 after acquiring an additional 3,753 shares in the last quarter. Finally, Miracle Mile Advisors LLC lifted its holdings in shares of Broadridge Financial Solutions by 98.0% during the fourth quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider's stock valued at $550,000 after acquiring an additional 1,204 shares during the period. 90.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, insider Douglas Richard Deschutter sold 24,185 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the sale, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Thomas P. Carey sold 15,710 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the completion of the transaction, the vice president now directly owns 12,146 shares of the company's stock, valued at approximately $2,797,466.72. The trade was a 56.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,532 shares of company stock valued at $12,264,846 in the last ninety days. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BR shares. Morgan Stanley boosted their price target on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 6th. Wolfe Research restated a "peer perform" rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Royal Bank of Canada reiterated an "outperform" rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. StockNews.com lowered Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, November 9th. Finally, UBS Group began coverage on Broadridge Financial Solutions in a research note on Thursday, November 21st. They issued a "neutral" rating and a $250.00 target price on the stock. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. 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 Stock Performance

Shares of Broadridge Financial Solutions stock traded up $2.18 during trading on Monday, reaching $239.53. The company's stock had a trading volume of 420,304 shares, compared to its average volume of 490,444. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $241.18. The firm has a market cap of $28.00 billion, a PE ratio of 41.44 and a beta of 1.08. The business's 50-day moving average price is $230.15 and its 200-day moving average price is $219.23. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63.

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, beating the consensus estimate of $0.97 by $0.03. The business had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The firm's revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.09 earnings per share. Equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were paid a dividend of $0.88 per share. The ex-dividend date was Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.47%. Broadridge Financial Solutions's payout ratio is 60.90%.

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.