Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Buffington Mohr McNeal

Buffington Mohr McNeal decreased its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 25,537 shares of the business services provider’s stock after selling 948 shares during the period. Buffington Mohr McNeal’s holdings in Broadridge Financial Solutions were worth $5,254,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Morgan Stanley increased its position in shares of Broadridge Financial Solutions by 41.0% in the 4th quarter. Morgan Stanley now owns 7,043,656 shares of the business services provider’s stock worth $944,766,000 after purchasing an additional 2,048,184 shares during the last quarter. Stifel Financial Corp increased its position in shares of Broadridge Financial Solutions by 1,700.7% in the 3rd quarter. Stifel Financial Corp now owns 1,542,507 shares of the business services provider’s stock worth $276,194,000 after purchasing an additional 1,456,847 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Broadridge Financial Solutions by 85.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,230,810 shares of the business services provider’s stock worth $299,219,000 after purchasing an additional 1,025,907 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Broadridge Financial Solutions by 86.6% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,195,313 shares of the business services provider’s stock worth $186,122,000 after purchasing an additional 554,807 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Broadridge Financial Solutions by 124.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 687,830 shares of the business services provider’s stock valued at $123,156,000 after buying an additional 381,882 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Trading Down 0.5 %

Shares of NYSE:BR traded down $0.99 during mid-day trading on Tuesday, hitting $194.68. The stock had a trading volume of 190,697 shares, compared to its average volume of 515,457. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.40 and a current ratio of 1.40. The company has a market cap of $22.93 billion, a PE ratio of 34.09 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a 12-month low of $139.52 and a 12-month high of $210.24. The company’s 50 day moving average is $201.16 and its 200-day moving average is $193.79.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 EPS. On average, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a $0.80 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.20 annualized dividend and a yield of 1.64%. Broadridge Financial Solutions’s dividend payout ratio is presently 55.75%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday. Royal Bank of Canada boosted their price objective on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. DA Davidson reaffirmed a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. Evercore ISI reaffirmed an “outperform” rating and set a $230.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Finally, Raymond James upped their target price on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $206.67.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 12,731 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total value of $2,559,185.62. Following the transaction, the vice president now owns 13,303 shares in the company, valued at approximately $2,674,169.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Robert N. Duelks sold 830 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $201.58, for a total transaction of $167,311.40. Following the completion of the sale, the director now directly owns 5,445 shares of the company’s stock, valued at approximately $1,097,603.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Thomas P. Carey sold 12,731 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the sale, the vice president now directly owns 13,303 shares of the company’s stock, valued at $2,674,169.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,483 shares of company stock worth $9,745,637. 1.60% of the stock is currently owned by company insiders.

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.