ExodusPoint Capital Management LP Has $4.40 Million Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

ExodusPoint Capital Management LP cut its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 41.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,479 shares of the business services provider's stock after selling 13,729 shares during the quarter. ExodusPoint Capital Management LP's holdings in Broadridge Financial Solutions were worth $4,404,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Norges Bank acquired a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at $106,904,000. Raymond James Financial Inc. acquired a new position in shares of Broadridge Financial Solutions in the fourth quarter worth about $104,466,000. Corient Private Wealth LLC boosted its holdings in shares of Broadridge Financial Solutions by 882.9% in the fourth quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider's stock worth $99,186,000 after buying an additional 392,695 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Broadridge Financial Solutions in the fourth quarter worth approximately $25,773,000. Finally, American Century Companies Inc. raised its holdings in shares of Broadridge Financial Solutions by 51.0% during the fourth quarter. American Century Companies Inc. now owns 252,984 shares of the business services provider's stock valued at $57,197,000 after acquiring an additional 85,463 shares during the period. 90.03% of the stock is currently owned by institutional investors and hedge funds.

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Broadridge Financial Solutions Stock Up 1.4 %

NYSE BR traded up $3.18 on Friday, reaching $231.56. The stock had a trading volume of 574,975 shares, compared to its average volume of 521,708. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. 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 price of $235.60 and a 200 day moving average price of $229.30. The company has a market capitalization of $27.10 billion, a price-to-earnings ratio of 36.24 and a beta of 1.06.

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

Broadridge Financial Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 13th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Thursday, March 13th. Broadridge Financial Solutions's payout ratio is presently 55.09%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. DA Davidson reiterated a "neutral" rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Wolfe Research reissued a "peer perform" rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. UBS Group increased their price objective 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. Morgan Stanley lifted their target price on 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, JPMorgan Chase & Co. increased their price target on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $241.00.

Insider Buying and Selling

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 485 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $237.93, for a total transaction of $115,396.05. Following the completion of the sale, the director now owns 4,960 shares of the company's stock, valued at $1,180,132.80. This represents a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 169,788 shares in the company, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, 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.