Millennium Management LLC Purchases 131,514 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Millennium Management LLC lifted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 52.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 383,762 shares of the business services provider's stock after acquiring an additional 131,514 shares during the quarter. Millennium Management LLC owned approximately 0.33% of Broadridge Financial Solutions worth $86,765,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in Broadridge Financial Solutions by 50.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider's stock worth $804,952,000 after buying an additional 1,186,555 shares in the last quarter. Norges Bank bought a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth $106,904,000. Raymond James Financial Inc. acquired a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at $104,466,000. Corient Private Wealth LLC lifted its stake in shares of Broadridge Financial Solutions by 882.9% during the fourth quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider's stock valued at $99,186,000 after acquiring an additional 392,695 shares during the period. Finally, Northern Trust Corp boosted its holdings in Broadridge Financial Solutions by 24.4% in the fourth quarter. Northern Trust Corp now owns 1,604,783 shares of the business services provider's stock valued at $362,825,000 after acquiring an additional 314,323 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Trading Up 0.4%

Shares of Broadridge Financial Solutions stock traded up $1.00 during trading on Friday, hitting $241.32. 475,637 shares of the company were exchanged, compared to its average volume of 531,956. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market capitalization of $28.35 billion, a P/E ratio of 37.76 and a beta of 0.98. The firm's fifty day moving average price is $234.22 and its 200 day moving average price is $232.75. Broadridge Financial Solutions, Inc. has a 1-year low of $192.68 and a 1-year high of $247.01.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.03. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the firm earned $2.23 EPS. Broadridge Financial Solutions's quarterly revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio (DPR) is 52.93%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on BR shares. JPMorgan Chase & Co. boosted their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. StockNews.com upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Needham & Company LLC assumed coverage on shares of Broadridge Financial Solutions in a research note on Tuesday, May 6th. They set a "buy" rating and a $300.00 price target for the company. DA Davidson reaffirmed a "neutral" rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Finally, Morgan Stanley lifted their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an "equal weight" rating in a report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of "Hold" and a consensus target price of $250.83.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction dated Monday, March 10th. The stock was 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 directly owns 169,788 shares in the company, valued at approximately $39,973,188.84. The trade was a 36.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Thomas P. Carey sold 3,607 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $237.26, for a total value of $855,796.82. Following the completion of the sale, the vice president now owns 6,077 shares of the company's stock, valued at $1,441,829.02. This trade represents a 37.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 123,473 shares of company stock worth $29,072,366 in the last quarter. Corporate insiders own 1.30% of the company's stock.

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.