Parsons Capital Management Inc. RI Has $4.41 Million Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Parsons Capital Management Inc. RI cut its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 10.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,509 shares of the business services provider’s stock after selling 2,296 shares during the period. Parsons Capital Management Inc. RI’s holdings in Broadridge Financial Solutions were worth $4,411,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Union Bancaire Privee UBP SA bought a new position in shares of Broadridge Financial Solutions during the fourth quarter worth approximately $2,328,000. Blue Trust Inc. increased its stake in shares of Broadridge Financial Solutions by 25.2% during the fourth quarter. Blue Trust Inc. now owns 2,188 shares of the business services provider’s stock worth $471,000 after purchasing an additional 441 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of Broadridge Financial Solutions by 6.1% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,980 shares of the business services provider’s stock worth $448,000 after purchasing an additional 113 shares during the period. KFG Wealth Management LLC increased its stake in Broadridge Financial Solutions by 17.6% during the 4th quarter. KFG Wealth Management LLC now owns 1,402 shares of the business services provider’s stock worth $317,000 after acquiring an additional 210 shares during the period. Finally, Running Oak Capital LLC increased its stake in Broadridge Financial Solutions by 5.7% during the 4th quarter. Running Oak Capital LLC now owns 64,290 shares of the business services provider’s stock worth $14,535,000 after acquiring an additional 3,457 shares during the period. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Up 0.2 %

Shares of BR opened at $237.91 on Monday. The company has a market capitalization of $27.81 billion, a PE ratio of 41.17 and a beta of 1.08. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $237.96. The stock’s 50-day moving average price is $230.15 and its two-hundred day moving average price is $219.23. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS 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 analyst estimates of $1.48 billion. During the same period in the previous year, the company posted $1.09 EPS. The firm’s revenue was down .6% compared to the same quarter last year. On average, analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.48%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 60.90%.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 15,710 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the transaction, the vice president now owns 12,146 shares in the company, valued at $2,797,466.72. The trade was a 56.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Maura A. Markus sold 3,880 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $227.02, for a total value of $880,837.60. Following the completion of the transaction, the director now owns 27,788 shares in the company, valued at approximately $6,308,431.76. The trade was a 12.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,532 shares of company stock worth $12,264,846. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on BR. Royal Bank of Canada restated an “outperform” rating and set a $246.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. DA Davidson reaffirmed a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. UBS Group initiated coverage on Broadridge Financial Solutions in a report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 target price on the stock. Morgan Stanley raised their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of “Hold” and an average price target of $226.71.

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.