Broadridge Financial Solutions, Inc. (NYSE:BR) Stock Holdings Trimmed by Advisory Services Network LLC

Advisory Services Network LLC lessened its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BRFree Report) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,258 shares of the business services provider’s stock after selling 396 shares during the period. Advisory Services Network LLC’s holdings in Broadridge Financial Solutions were worth $3,345,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB grew its position in shares of Broadridge Financial Solutions by 680.1% during the 4th quarter. Nordea Investment Management AB now owns 85,325 shares of the business services provider’s stock valued at $17,584,000 after buying an additional 74,387 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at approximately $227,750,000. Crown Oak Advisors LLC acquired a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $7,032,000. Comerica Bank acquired a new stake in shares of Broadridge Financial Solutions during the 3rd quarter worth approximately $8,116,000. Finally, Cornercap Investment Counsel Inc. bought a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth approximately $1,089,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Trading Down 0.6 %

Shares of NYSE:BR opened at $200.54 on Monday. The company has a 50 day moving average of $199.42 and a 200-day moving average of $198.07. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55. The firm has a market cap of $23.70 billion, a P/E ratio of 34.22 and a beta of 0.98. Broadridge Financial Solutions, Inc. has a twelve month low of $144.54 and a twelve month high of $210.24.

Broadridge Financial Solutions (NYSE:BRGet Free Report) last released its earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the company earned $2.05 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio is 54.61%.

Wall Street Analyst Weigh In

BR has been the topic of several analyst reports. DA Davidson reaffirmed a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Sunday, May 12th. Royal Bank of Canada upped their target price on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Evercore ISI reaffirmed an “outperform” rating and set a $230.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Finally, Raymond James increased their price objective on Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $206.67.

Read Our Latest Stock Report on BR

Insider Activity at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 2,500 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.40, for a total value of $501,000.00. Following the transaction, the vice president now directly owns 9,361 shares of the company’s stock, valued at $1,875,944.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Thomas P. Carey sold 2,500 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.40, for a total transaction of $501,000.00. Following the transaction, the vice president now directly owns 9,361 shares of the company’s stock, valued at $1,875,944.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas P. Carey sold 12,731 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total value of $2,559,185.62. Following the completion of the transaction, the vice president now directly owns 13,303 shares in the company, valued at $2,674,169.06. The disclosure for this sale can be found here. Insiders sold 28,261 shares of company stock worth $5,724,959 in the last quarter. 1.60% of the stock is owned by company insiders.

Broadridge Financial Solutions Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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