Mcrae Capital Management Inc. Reduces Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Mcrae Capital Management Inc. reduced its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 62,789 shares of the business services provider’s stock after selling 135 shares during the quarter. Broadridge Financial Solutions makes up about 3.2% of Mcrae Capital Management Inc.’s holdings, making the stock its 15th biggest holding. Mcrae Capital Management Inc. owned about 0.05% of Broadridge Financial Solutions worth $12,919,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Wendell David Associates Inc. raised its holdings in shares of Broadridge Financial Solutions by 1.4% during the fourth quarter. Wendell David Associates Inc. now owns 105,328 shares of the business services provider’s stock valued at $21,671,000 after acquiring an additional 1,450 shares in the last quarter. AMI Asset Management Corp raised its holdings in Broadridge Financial Solutions by 3.6% in the 4th quarter. AMI Asset Management Corp now owns 2,738 shares of the business services provider’s stock worth $563,000 after purchasing an additional 94 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Broadridge Financial Solutions by 2.1% in the 4th quarter. Fifth Third Bancorp now owns 30,537 shares of the business services provider’s stock worth $6,283,000 after purchasing an additional 628 shares during the period. Atlas Private Wealth Management boosted its stake in shares of Broadridge Financial Solutions by 2.8% during the 4th quarter. Atlas Private Wealth Management now owns 11,219 shares of the business services provider’s stock valued at $2,308,000 after purchasing an additional 301 shares in the last quarter. Finally, Griffin Asset Management Inc. increased its position in shares of Broadridge Financial Solutions by 1.4% during the fourth quarter. Griffin Asset Management Inc. now owns 19,178 shares of the business services provider’s stock valued at $3,946,000 after buying an additional 258 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insider Activity at Broadridge Financial Solutions

In other news, insider Douglas Richard Deschutter sold 22,722 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the transaction, the insider now owns 44,680 shares in the company, valued at approximately $8,891,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 12,731 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the transaction, the vice president now owns 13,303 shares of the company’s stock, valued at $2,674,169.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas Richard Deschutter sold 22,722 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the completion of the transaction, the insider now owns 44,680 shares of the company’s stock, valued at $8,891,320. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,483 shares of company stock worth $9,745,637. 1.60% of the stock is owned by company insiders.

Broadridge Financial Solutions Stock Performance

BR stock traded down $1.63 on Monday, hitting $203.23. The company had a trading volume of 188,157 shares, compared to its average volume of 533,247. The stock has a market cap of $23.93 billion, a price-to-earnings ratio of 35.54 and a beta of 0.99. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.77. The stock’s 50-day simple moving average is $201.97 and its 200 day simple moving average is $192.44. Broadridge Financial Solutions, Inc. has a 12-month low of $139.35 and a 12-month high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the business posted $0.91 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Investors of record on Friday, March 15th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Thursday, March 14th. Broadridge Financial Solutions’s payout ratio is 55.75%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Raymond James lifted their price objective on Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Evercore ISI reaffirmed an “outperform” rating and issued a $230.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, March 27th. Royal Bank of Canada upped their target price on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Finally, Morgan Stanley raised their price target on shares of Broadridge Financial Solutions from $175.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, December 8th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Broadridge Financial Solutions has a consensus rating of “Hold” and an average target price of $203.17.

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.