Miracle Mile Advisors LLC Has $264,000 Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Miracle Mile Advisors LLC grew its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 10.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,229 shares of the business services provider’s stock after acquiring an additional 114 shares during the period. Miracle Mile Advisors LLC’s holdings in Broadridge Financial Solutions were worth $264,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. New England Research & Management Inc. acquired a new stake in Broadridge Financial Solutions during the first quarter worth approximately $1,465,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Broadridge Financial Solutions by 108.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 83,923 shares of the business services provider’s stock valued at $17,192,000 after buying an additional 43,710 shares in the last quarter. Tidal Investments LLC raised its position in shares of Broadridge Financial Solutions by 99.6% in the first quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider’s stock valued at $3,627,000 after buying an additional 8,837 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Broadridge Financial Solutions by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 13,951,669 shares of the business services provider’s stock valued at $2,870,556,000 after buying an additional 110,886 shares in the last quarter. Finally, QRG Capital Management Inc. raised its position in shares of Broadridge Financial Solutions by 72.7% in the first quarter. QRG Capital Management Inc. now owns 7,009 shares of the business services provider’s stock valued at $1,436,000 after buying an additional 2,950 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BR. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada lifted their price target on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $213.33.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, President Christopher John Perry sold 17,534 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the sale, the president now owns 50,237 shares of the company’s stock, valued at approximately $10,721,078.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 25,000 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the sale, the chief executive officer now owns 200,675 shares of the company’s stock, valued at approximately $41,963,149.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Christopher John Perry sold 17,534 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the sale, the president now directly owns 50,237 shares in the company, valued at approximately $10,721,078.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 134,386 shares of company stock valued at $28,112,824. 1.60% of the stock is currently owned by insiders.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR opened at $219.71 on Thursday. The company’s 50 day simple moving average is $211.89 and its 200 day simple moving average is $204.35. The stock has a market capitalization of $25.97 billion, a price-to-earnings ratio of 37.49 and a beta of 1.05. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. Broadridge Financial Solutions, Inc. has a 1 year low of $166.73 and a 1 year high of $223.81.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the firm posted $3.21 earnings per share. As a group, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Thursday, September 12th. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s payout ratio is presently 60.07%.

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.