Diamond Hill Capital Management Inc. Sells 3,793 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Diamond Hill Capital Management Inc. lessened its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 7.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,449 shares of the business services provider's stock after selling 3,793 shares during the period. Diamond Hill Capital Management Inc.'s holdings in Broadridge Financial Solutions were worth $10,049,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in BR. True Wealth Design LLC boosted its position in Broadridge Financial Solutions by 2,028.6% during the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider's stock worth $32,000 after purchasing an additional 142 shares during the period. Fortitude Family Office LLC boosted 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 purchasing an additional 111 shares during the period. FSA Wealth Management LLC bought a new position in Broadridge Financial Solutions during the third quarter worth about $39,000. Global X Japan Co. Ltd. bought a new position in Broadridge Financial Solutions during the fourth quarter worth about $41,000. Finally, Truvestments Capital LLC bought a new position in Broadridge Financial Solutions during the third quarter worth about $45,000. Hedge funds and other institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock traded up $4.17 during mid-day trading on Wednesday, hitting $235.40. 518,734 shares of the company traded hands, compared to its average volume of 472,434. The stock has a market cap of $27.55 billion, a price-to-earnings ratio of 36.84 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $246.58. The stock has a fifty day moving average price of $235.61 and a 200-day moving average price of $226.37. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35.

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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 EPS for the quarter, topping 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 firm earned $0.92 EPS. On average, equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal 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 paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 55.09%.

Insiders Place Their Bets

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 transaction, the vice president now directly owns 6,602 shares of the company's stock, valued at $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 available through this link. Also, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction on Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the transaction, the chief executive officer now directly owns 169,788 shares in the company, valued at approximately $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. 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 corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BR. DA Davidson reiterated a "neutral" rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Wolfe Research restated a "peer perform" rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Morgan Stanley raised their price objective 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. Finally, StockNews.com upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Saturday, March 8th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $239.17.

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.