Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. cut its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 42.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 122,911 shares of the business services provider’s stock after selling 90,034 shares during the quarter. Pinebridge Investments L.P. owned about 0.11% of Broadridge Financial Solutions worth $27,789,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Broadridge Financial Solutions by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 14,294,766 shares of the business services provider’s stock worth $3,231,904,000 after purchasing an additional 74,674 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Broadridge Financial Solutions by 50.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider’s stock worth $804,952,000 after buying an additional 1,186,555 shares during the last quarter. Geode Capital Management LLC grew its holdings in Broadridge Financial Solutions by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 3,037,015 shares of the business services provider’s stock valued at $684,971,000 after buying an additional 37,141 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Broadridge Financial Solutions by 2.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,649,761 shares of the business services provider’s stock worth $378,175,000 after acquiring an additional 43,533 shares during the period. Finally, Barclays PLC boosted its position in shares of Broadridge Financial Solutions by 2.5% during the 4th quarter. Barclays PLC now owns 1,648,527 shares of the business services provider’s stock valued at $372,713,000 after acquiring an additional 40,506 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insider Buying and Selling

In other news, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions 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 completion of the transaction, the chief executive officer now owns 169,788 shares in the company, valued at approximately $39,973,188.84. This trade represents a 36.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Laura Matlin sold 514 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total transaction of $124,182.40. Following the sale, the vice president now owns 6,602 shares in the company, 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 have sold a total of 124,754 shares of company stock valued at $29,397,793 in the last ninety days. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Up 3.1 %

Broadridge Financial Solutions stock opened at $235.10 on Wednesday. The company has a market capitalization of $27.51 billion, a PE ratio of 36.79 and a beta of 1.06. 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, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $247.01. The firm has a 50 day moving average price of $234.68 and a 200 day moving average price of $230.31.

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 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 previous year, the firm earned $0.92 earnings per share. Research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 13th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 55.09%.

Analyst Ratings Changes

Several research firms recently issued reports on BR. UBS Group lifted their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Morgan Stanley lifted their price target 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. upped their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Royal Bank of Canada raised their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $241.00.

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.