Aviva PLC Sells 2,098 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Aviva PLC trimmed its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 114,095 shares of the business services provider’s stock after selling 2,098 shares during the quarter. Aviva PLC’s holdings in Broadridge Financial Solutions were worth $25,796,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BR shares. Royal Bank of Canada upped their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company 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 report on Thursday, December 12th. JPMorgan Chase & Co. raised their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. DA Davidson reiterated a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Finally, StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $241.00.

Insider Transactions at Broadridge Financial Solutions

In related news, Director Robert N. Duelks sold 485 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $237.93, for a total transaction of $115,396.05. Following the transaction, the director now directly owns 4,960 shares of the company’s stock, valued at $1,180,132.80. This trade represents a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Laura Matlin sold 514 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total transaction of $124,182.40. Following the completion of the sale, the vice president now directly owns 6,602 shares of the company’s stock, valued at $1,595,043.20. The trade was a 7.22 % decrease in their ownership of the stock. 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 over the last ninety days. 1.30% of the stock is currently owned by insiders.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR opened at $225.19 on Monday. The stock’s 50 day moving average is $237.48 and its 200-day moving average is $228.80. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $247.01. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $26.35 billion, a price-to-earnings ratio of 35.24 and a beta of 1.06.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 previous year, the company earned $0.92 earnings per share. Sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 55.09%.

Broadridge Financial Solutions 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.