Golden State Equity Partners Increases Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Golden State Equity Partners boosted its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 30.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,356 shares of the business services provider’s stock after purchasing an additional 551 shares during the quarter. Golden State Equity Partners’ holdings in Broadridge Financial Solutions were worth $485,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Jensen Investment Management Inc. lifted its stake in Broadridge Financial Solutions by 2.4% in the 3rd quarter. Jensen Investment Management Inc. now owns 1,825,339 shares of the business services provider’s stock worth $326,827,000 after purchasing an additional 43,235 shares in the last quarter. Stifel Financial Corp lifted its stake in Broadridge Financial Solutions by 1,700.7% in the 3rd quarter. Stifel Financial Corp now owns 1,542,507 shares of the business services provider’s stock worth $276,194,000 after purchasing an additional 1,456,847 shares in the last quarter. Northern Trust Corp lifted its stake in Broadridge Financial Solutions by 5.6% in the 3rd quarter. Northern Trust Corp now owns 1,322,979 shares of the business services provider’s stock worth $236,879,000 after purchasing an additional 70,258 shares in the last quarter. Bahl & Gaynor Inc. lifted its stake in Broadridge Financial Solutions by 1.3% in the 4th quarter. Bahl & Gaynor Inc. now owns 1,082,210 shares of the business services provider’s stock worth $222,665,000 after purchasing an additional 14,005 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in Broadridge Financial Solutions by 0.5% in the 4th quarter. California Public Employees Retirement System now owns 733,194 shares of the business services provider’s stock worth $150,855,000 after purchasing an additional 3,840 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 22,722 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total value of $4,521,678.00. Following the transaction, the insider now directly owns 44,680 shares in the company, valued at approximately $8,891,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Douglas Richard Deschutter sold 22,722 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total value of $4,521,678.00. Following the completion of the sale, the insider now owns 44,680 shares of the company’s stock, valued at approximately $8,891,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert N. Duelks sold 830 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $201.58, for a total transaction of $167,311.40. Following the completion of the sale, the director now directly owns 5,445 shares of the company’s stock, valued at approximately $1,097,603.10. The disclosure for this sale can be found here. Insiders have sold 48,483 shares of company stock worth $9,745,637 in the last three months. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Evercore ISI restated an “outperform” rating and set a $230.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Royal Bank of Canada upped their target price on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Friday. Raymond James upped their target price on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Finally, DA Davidson restated a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. 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.com, the stock presently has a consensus rating of “Hold” and an average target price of $206.67.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR opened at $194.15 on Friday. The company has a market capitalization of $22.87 billion, a price-to-earnings ratio of 33.82 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a 12 month low of $140.06 and a 12 month high of $210.24. The firm’s 50-day moving average is $200.54 and its 200 day moving average is $194.55. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.77.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.91 EPS. Research analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a $0.80 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.20 dividend on an annualized basis and a yield of 1.65%. Broadridge Financial Solutions’s dividend payout ratio is currently 55.75%.

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.