Advisory Services Network LLC Reduces Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Advisory Services Network LLC lessened its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 11.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,215 shares of the business services provider's stock after selling 1,656 shares during the quarter. Advisory Services Network LLC's holdings in Broadridge Financial Solutions were worth $2,988,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Fortitude Family Office LLC increased its position in Broadridge Financial Solutions by 246.7% during the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider's stock worth $35,000 after buying 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 approximately $41,000. Curio Wealth LLC acquired a new position in shares of Broadridge Financial Solutions during the fourth quarter worth approximately $45,000. Salem Investment Counselors Inc. grew its holdings in Broadridge Financial Solutions by 200.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 225 shares of the business services provider's stock worth $51,000 after buying an additional 150 shares in the last quarter. Finally, Promus Capital LLC bought a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth $52,000. Institutional investors and hedge funds own 90.03% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BR shares. JPMorgan Chase & Co. increased their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Royal Bank of Canada lifted their price objective 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. Morgan Stanley raised their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an "equal weight" rating in a research note on Monday, February 3rd. DA Davidson reiterated a "neutral" rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Finally, UBS Group lifted their price objective 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 issued a buy rating to the company's stock. According to MarketBeat, Broadridge Financial Solutions presently has an average rating of "Hold" and an average price target of $241.00.

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Broadridge Financial Solutions Stock Up 0.0 %

BR traded up $0.04 during trading on Wednesday, hitting $235.80. The company had a trading volume of 69,535 shares, compared to its average volume of 520,209. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $247.01. The business has a 50-day moving average of $235.45 and a 200-day moving average of $229.64. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market cap of $27.59 billion, a PE ratio of 36.90 and a beta of 1.06.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating 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 posted $0.92 EPS. As a group, analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.49%. The ex-dividend date was Thursday, March 13th. Broadridge Financial Solutions's payout ratio is presently 55.09%.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the sale, the vice president now owns 6,602 shares of the company's stock, valued at approximately $1,595,043.20. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 124,754 shares of company stock worth $29,397,793. Corporate insiders own 1.30% of the company's stock.

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.