Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI raised its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 11.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,654 shares of the business services provider’s stock after buying an additional 272 shares during the period. Citizens Financial Group Inc. RI’s holdings in Broadridge Financial Solutions were worth $600,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BR. Qsemble Capital Management LP bought a new stake in shares of Broadridge Financial Solutions in the 3rd quarter worth $1,412,000. Horizon Kinetics Asset Management LLC bought a new stake in Broadridge Financial Solutions in the third quarter worth about $483,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Broadridge Financial Solutions by 53.5% in the 4th 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 during the last quarter. Miracle Mile Advisors LLC boosted its position in shares of Broadridge Financial Solutions by 98.0% during 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 acquired a new position in shares of Broadridge Financial Solutions in the 3rd quarter worth approximately $2,251,000. 90.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BR has been the subject of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Royal Bank of Canada raised their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Finally, UBS Group upped their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $239.17.

Broadridge Financial Solutions Trading Up 0.1 %

Shares of NYSE BR opened at $225.33 on Friday. The business has a 50-day moving average price of $235.46 and a two-hundred day moving average price of $225.77. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $26.37 billion, a PE ratio of 35.26 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $246.58.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates 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 prior year, the firm earned $0.92 EPS. As a group, analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be issued a $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.56%. Broadridge Financial Solutions’s dividend payout ratio is currently 55.09%.

Insider Activity at Broadridge Financial Solutions

In other news, Director Brett Keller sold 5,442 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the completion of the sale, the director now owns 15,536 shares in the company, valued at approximately $3,734,854.40. This represents a 25.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $235.43, for a total value of $22,590,921.08. Following the transaction, the chief executive officer now directly owns 169,788 shares in the company, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 124,754 shares of company stock valued at $29,397,793. 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.