Broadridge Financial Solutions, Inc. (NYSE:BR) Stake Cut by APG Asset Management N.V.

APG Asset Management N.V. lessened its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 39.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,671,407 shares of the business services provider's stock after selling 1,091,379 shares during the period. Broadridge Financial Solutions comprises 1.0% of APG Asset Management N.V.'s portfolio, making the stock its 17th largest holding. APG Asset Management N.V. owned approximately 1.43% of Broadridge Financial Solutions worth $364,933,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC increased its stake in shares of 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 valued at $35,000 after acquiring an additional 111 shares during the last quarter. Global X Japan Co. Ltd. acquired a new position in Broadridge Financial Solutions during the fourth quarter worth approximately $41,000. Curio Wealth LLC purchased a new position in Broadridge Financial Solutions during the fourth quarter worth approximately $45,000. Salem Investment Counselors Inc. boosted its holdings in shares of Broadridge Financial Solutions by 200.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 225 shares of the business services provider's stock valued at $51,000 after purchasing an additional 150 shares during the last quarter. Finally, Promus Capital LLC acquired a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at $52,000. Institutional investors and hedge funds own 90.03% of the company's stock.

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Insider Transactions at Broadridge Financial Solutions

In related news, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction on 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 sale, the vice president now owns 6,602 shares in the company, valued at approximately $1,595,043.20. The trade was a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 124,754 shares of company stock valued at $29,397,793. 1.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

BR has been the topic of several research reports. UBS Group increased their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Royal Bank of Canada raised their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a 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 report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price target on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Finally, Morgan Stanley boosted their price objective on shares of 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. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Broadridge Financial Solutions has an average rating of "Hold" and a consensus price target of $241.00.

Broadridge Financial Solutions Stock Up 1.4 %

Broadridge Financial Solutions stock traded up $3.18 during midday trading on Friday, hitting $231.56. 574,975 shares of the company were exchanged, compared to its average volume of 521,708. The company has a market cap of $27.10 billion, a PE ratio of 36.24 and a beta of 1.06. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $247.01. The company's fifty day moving average price is $235.60 and its 200-day moving average price is $229.30. 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 (NYSE:BR - Get Free Report) last posted its earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, topping 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 EPS. On average, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.52%. Broadridge Financial Solutions's dividend payout ratio is presently 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.