Wells Fargo & Company MN Has $270.88 Million Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Wells Fargo & Company MN cut its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,198,106 shares of the business services provider’s stock after selling 12,489 shares during the quarter. Wells Fargo & Company MN’s holdings in Broadridge Financial Solutions were worth $270,880,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its holdings in shares of 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. Global X Japan Co. Ltd. acquired a new stake in Broadridge Financial Solutions during the fourth quarter worth $41,000. Curio Wealth LLC bought a new stake in Broadridge Financial Solutions in the 4th quarter valued at $45,000. Salem Investment Counselors Inc. raised its stake in shares of Broadridge Financial Solutions by 200.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 225 shares of the business services provider’s stock valued at $51,000 after buying an additional 150 shares in the last quarter. Finally, Promus Capital LLC bought a new position in shares of Broadridge Financial Solutions during the 4th quarter worth about $52,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Wall Street Analysts Forecast Growth

BR has been the subject of several recent research reports. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, April 1st. DA Davidson reissued a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Royal Bank of Canada increased their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Finally, UBS Group lifted their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $241.00.

Insider Activity

In other news, CEO Timothy C. Gokey sold 95,956 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $235.43, for a total value of $22,590,921.08. Following the sale, the chief executive officer now directly owns 169,788 shares in the company, valued at $39,973,188.84. The trade was a 36.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $1,308,256.80. Following the completion of the sale, the director now directly owns 15,536 shares in the company, valued at approximately $3,734,854.40. This represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 124,754 shares of company stock valued at $29,397,793 in the last ninety days. 1.30% of the stock is owned by insiders.

Broadridge Financial Solutions Stock Down 6.1 %

Shares of NYSE:BR opened at $225.19 on Friday. The company has a 50 day moving average of $237.48 and a 200-day moving average of $228.66. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $247.01. The stock has a market cap of $26.35 billion, a price-to-earnings ratio of 35.24 and a beta of 1.06. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period in the prior year, the company posted $0.92 EPS. On average, sell-side 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 announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th were given a dividend of $0.88 per share. The ex-dividend date was Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.56%. Broadridge Financial Solutions’s payout ratio is currently 55.09%.

Broadridge Financial Solutions Company Profile

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.