Hilton Capital Management LLC Reduces Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Hilton Capital Management LLC reduced its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,736 shares of the business services provider’s stock after selling 401 shares during the quarter. Hilton Capital Management LLC’s holdings in Broadridge Financial Solutions were worth $1,663,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Bogart Wealth LLC raised its holdings in shares of Broadridge Financial Solutions by 384.0% during the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after buying an additional 96 shares during the period. EdgeRock Capital LLC purchased a new stake in shares of Broadridge Financial Solutions during the 2nd quarter valued at about $32,000. Rothschild Investment LLC purchased a new stake in shares of Broadridge Financial Solutions during the 2nd quarter valued at about $32,000. New Covenant Trust Company N.A. purchased a new stake in shares of Broadridge Financial Solutions during the 1st quarter valued at about $34,000. Finally, Hazlett Burt & Watson Inc. purchased a new stake in shares of Broadridge Financial Solutions during the 3rd quarter valued at about $38,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $224.84 on Wednesday. Broadridge Financial Solutions, Inc. has a twelve month low of $182.57 and a twelve month high of $230.00. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $26.28 billion, a price-to-earnings ratio of 38.90 and a beta of 1.05. The business has a 50 day simple moving average of $216.50 and a 200-day simple moving average of $208.63.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the business earned $1.09 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. As a group, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.57%. Broadridge Financial Solutions’s dividend payout ratio is currently 60.90%.

Insider Activity at Broadridge Financial Solutions

In related news, Director Maura A. Markus sold 3,880 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the completion of the transaction, the director now owns 27,788 shares in the company, valued at $6,308,431.76. The trade was a 12.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Thomas P. Carey sold 10,757 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $226.82, for a total value of $2,439,902.74. Following the transaction, the vice president now owns 12,689 shares of the company’s stock, valued at $2,878,118.98. This represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 109,033 shares of company stock worth $23,382,322 in the last 90 days. 1.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on BR. JPMorgan Chase & Co. lifted their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Morgan Stanley lifted their price objective on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and set a $246.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Finally, StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $217.83.

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.