3,590 Shares in Broadridge Financial Solutions, Inc. (NYSE:BR) Bought by Allstate Corp

Allstate Corp purchased a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,590 shares of the business services provider’s stock, valued at approximately $812,000.

A number of other institutional investors also recently modified their holdings of the company. D.A. Davidson & CO. acquired a new position in Broadridge Financial Solutions during the third quarter worth $212,000. FMR LLC boosted its stake in shares of Broadridge Financial Solutions by 9.7% during the 3rd quarter. FMR LLC now owns 80,194 shares of the business services provider’s stock worth $17,244,000 after buying an additional 7,077 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in shares of Broadridge Financial Solutions by 3.3% in the 3rd quarter. Glenmede Trust Co. NA now owns 4,419 shares of the business services provider’s stock valued at $950,000 after acquiring an additional 143 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Broadridge Financial Solutions in the third quarter valued at about $1,548,000. Finally, CreativeOne Wealth LLC raised its holdings in Broadridge Financial Solutions by 5.5% during the third quarter. CreativeOne Wealth LLC now owns 1,548 shares of the business services provider’s stock worth $333,000 after acquiring an additional 81 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Morgan Stanley raised their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Royal Bank of Canada lifted their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Finally, UBS Group upped their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $241.00.

Broadridge Financial Solutions Price Performance

NYSE:BR opened at $242.66 on Tuesday. The company has a market cap of $28.40 billion, a P/E ratio of 37.98 and a beta of 1.05. The firm’s fifty day moving average price is $237.21 and its two-hundred day moving average price is $228.00. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $246.58. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the firm earned $0.92 earnings per share. Equities analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be paid a $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a yield of 1.45%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the transaction, the chief executive officer now owns 169,788 shares in the company, valued at $39,973,188.84. This represents a 36.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Laura Matlin sold 514 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total transaction of $124,182.40. Following the transaction, the vice president now directly owns 6,602 shares in the company, valued at $1,595,043.20. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 124,754 shares of company stock valued at $29,397,793 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

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.