Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by SRN Advisors LLC

SRN Advisors LLC lowered its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 11.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,434 shares of the business services provider’s stock after selling 432 shares during the quarter. SRN Advisors LLC’s holdings in Broadridge Financial Solutions were worth $776,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of BR. True Wealth Design LLC lifted its position in shares of Broadridge Financial Solutions by 2,028.6% in the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 142 shares in the last quarter. Fortitude Family Office LLC increased its position in Broadridge Financial Solutions by 246.7% during the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after purchasing an additional 111 shares in the last quarter. Hazlett Burt & Watson Inc. acquired a new position in Broadridge Financial Solutions in the 3rd quarter valued at about $38,000. FSA Wealth Management LLC purchased a new position in Broadridge Financial Solutions in the 3rd quarter valued at about $39,000. Finally, Global X Japan Co. Ltd. acquired a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth about $41,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insiders Place Their Bets

In other news, Director Brett Keller sold 5,442 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the sale, the director now owns 15,536 shares in the company, valued at $3,734,854.40. This trade represents a 25.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Laura Matlin sold 514 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the completion of the transaction, the vice president now owns 6,602 shares of the company’s stock, valued at $1,595,043.20. This trade 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 21,666 shares of company stock worth $5,050,766 over the last quarter. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BR shares. Morgan Stanley boosted their price objective on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. lifted their target price on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” 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 lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, DA Davidson restated a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Six 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 has a consensus rating of “Hold” and a consensus price target of $239.17.

Broadridge Financial Solutions Stock Down 0.1 %

Shares of NYSE:BR opened at $236.58 on Thursday. The stock has a 50-day simple moving average of $233.29 and a 200-day simple moving average of $223.87. The stock has a market capitalization of $27.68 billion, a P/E ratio of 37.02 and a beta of 1.08. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $244.47. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35.

Broadridge Financial Solutions (NYSE:BR) last released 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 company earned $0.92 earnings per share. Equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

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.