State of Alaska Department of Revenue Sells 2,065 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

State of Alaska Department of Revenue cut its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 13.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,351 shares of the business services provider's stock after selling 2,065 shares during the quarter. State of Alaska Department of Revenue's holdings in Broadridge Financial Solutions were worth $3,017,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BR shares. JPMorgan Chase & Co. upped their target price on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. DA Davidson reaffirmed a "neutral" rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Wolfe Research restated a "peer perform" rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Royal Bank of Canada raised their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Finally, Morgan Stanley increased their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $239.17.

Broadridge Financial Solutions Price Performance

NYSE BR traded up $0.32 on Thursday, reaching $242.70. The company's stock had a trading volume of 344,379 shares, compared to its average volume of 465,861. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $243.63. The firm's 50 day moving average is $232.39 and its two-hundred day moving average is $222.32. The stock has a market cap of $28.40 billion, a PE ratio of 37.98 and a beta of 1.08. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.39 and a current ratio of 1.35.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the business earned $0.92 earnings per share. As a group, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions's dividend payout ratio (DPR) is 55.09%.

Insider Activity at Broadridge Financial Solutions

In related news, Director Brett Keller sold 5,442 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the transaction, the director now owns 15,536 shares of the company's stock, valued at approximately $3,734,854.40. This trade represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Laura Matlin sold 514 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the transaction, the vice president now owns 6,602 shares in the company, valued at approximately $1,595,043.20. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,666 shares of company stock valued at $5,050,766. 1.30% of the stock is currently owned by corporate insiders.

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.