Andra AP fonden Lowers Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Andra AP fonden cut its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 54.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,500 shares of the business services provider's stock after selling 83,600 shares during the quarter. Andra AP fonden owned 0.06% of Broadridge Financial Solutions worth $15,713,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BR. Van ECK Associates Corp boosted its stake in shares of Broadridge Financial Solutions by 11.0% during the 3rd quarter. Van ECK Associates Corp now owns 20,967 shares of the business services provider's stock valued at $4,536,000 after buying an additional 2,079 shares during the period. QRG Capital Management Inc. grew its stake in Broadridge Financial Solutions by 7.3% in the third quarter. QRG Capital Management Inc. now owns 7,293 shares of the business services provider's stock valued at $1,568,000 after purchasing an additional 498 shares in the last quarter. Amalgamated Bank raised its stake in shares of Broadridge Financial Solutions by 4.6% during the 3rd quarter. Amalgamated Bank now owns 26,418 shares of the business services provider's stock worth $5,681,000 after purchasing an additional 1,152 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of Broadridge Financial Solutions by 5.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 8,838 shares of the business services provider's stock valued at $1,900,000 after buying an additional 425 shares during the last quarter. Finally, Graypoint LLC bought a new stake in shares of Broadridge Financial Solutions in the 3rd quarter valued at approximately $216,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

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Broadridge Financial Solutions Stock Performance

NYSE BR traded down $1.60 during trading hours on Wednesday, hitting $224.73. The company's stock had a trading volume of 601,528 shares, compared to its average volume of 472,884. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $246.58. The company's 50 day simple moving average is $235.49 and its two-hundred day simple moving average is $225.78. 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 $26.30 billion, a P/E ratio of 35.17 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share 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 earned $0.92 EPS. As a group, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be given a $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.57%. Broadridge Financial Solutions's dividend payout ratio is presently 55.09%.

Insider Buying and Selling

In other news, CEO Timothy C. Gokey sold 95,956 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $235.43, for a total value of $22,590,921.08. Following the completion of the sale, the chief executive officer now owns 169,788 shares of the company's stock, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the transaction, the vice president now owns 6,602 shares in the company, valued at $1,595,043.20. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 124,754 shares of company stock valued at $29,397,793 in the last ninety days. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BR has been the subject of a number of recent analyst reports. Wolfe Research restated a "peer perform" rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Royal Bank of Canada increased their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. StockNews.com upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Saturday. Morgan Stanley upped their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a research note on Monday, February 3rd. Finally, UBS Group raised their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $239.17.

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.