Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. trimmed its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 2.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 62,471 shares of the business services provider's stock after selling 1,270 shares during the period. Advisors Asset Management Inc. owned approximately 0.05% of Broadridge Financial Solutions worth $14,124,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its position in 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 worth $32,000 after acquiring an additional 142 shares during the period. Fortitude Family Office LLC grew its position in Broadridge Financial Solutions by 246.7% in the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider's stock worth $35,000 after acquiring an additional 111 shares during the period. Global X Japan Co. Ltd. purchased a new position in Broadridge Financial Solutions in the fourth quarter worth approximately $41,000. FSA Wealth Management LLC acquired a new position in Broadridge Financial Solutions during the third quarter worth $39,000. Finally, Curio Wealth LLC acquired a new position in Broadridge Financial Solutions during the fourth quarter worth $45,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BR. DA Davidson restated a "neutral" rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Royal Bank of Canada upped their price target 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. Wolfe Research restated a "peer perform" rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. StockNews.com upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Finally, UBS Group upped their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Broadridge Financial Solutions has an average rating of "Hold" and a consensus target price of $239.17.

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Insiders Place Their Bets

In other news, Director Brett Keller sold 5,442 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, February 6th. The stock was 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 approximately $3,734,854.40. The trade was a 25.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the chief executive officer now owns 169,788 shares in the company, valued at $39,973,188.84. This trade represents a 36.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 124,754 shares of company stock valued at $29,397,793 in the last ninety days. Insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Stock Down 0.3 %

Shares of NYSE BR traded down $0.78 during mid-day trading on Friday, hitting $233.03. The company had a trading volume of 1,115,387 shares, compared to its average volume of 475,208. The company has a market capitalization of $27.27 billion, a PE ratio of 36.47 and a beta of 1.05. 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, Inc. has a 1-year low of $188.30 and a 1-year high of $246.58. The business's 50-day simple moving average is $236.05 and its 200 day simple moving average is $226.62.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) 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 previous year, the firm earned $0.92 EPS. On average, analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions's dividend payout ratio (DPR) is 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.