Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 2,130 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 267,070 shares of the business services provider's stock after selling 2,130 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned about 0.23% of Broadridge Financial Solutions worth $63,974,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BR. State Street Corp grew its holdings in Broadridge Financial Solutions by 1.0% during the third quarter. State Street Corp now owns 5,181,715 shares of the business services provider's stock valued at $1,118,644,000 after purchasing an additional 51,439 shares during the period. Geode Capital Management LLC increased its position in Broadridge Financial Solutions by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider's stock worth $643,018,000 after buying an additional 15,208 shares during the period. Stifel Financial Corp raised its holdings in Broadridge Financial Solutions by 0.4% in the 3rd quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider's stock valued at $342,856,000 after acquiring an additional 5,813 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Broadridge Financial Solutions by 2.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider's stock worth $194,585,000 after acquiring an additional 20,775 shares during the period. Finally, abrdn plc boosted its stake in Broadridge Financial Solutions by 5.5% in the third quarter. abrdn plc now owns 536,083 shares of the business services provider's stock valued at $114,451,000 after buying an additional 27,869 shares in the last quarter. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Trading Up 0.4 %

BR stock traded up $0.96 during midday trading on Wednesday, hitting $242.53. The stock had a trading volume of 406,806 shares, compared to its average volume of 470,200. The company has a current ratio of 1.35, a quick ratio of 1.39 and a debt-to-equity ratio of 1.64. The business has a fifty day moving average price of $232.26 and a two-hundred day moving average price of $222.18. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $243.00. The firm has a market cap of $28.38 billion, a P/E ratio of 37.95 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its 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 quarter last year, the business posted $0.92 EPS. On average, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be paid a $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.45%. Broadridge Financial Solutions's dividend payout ratio is currently 55.09%.

Analyst Ratings Changes

A number of brokerages have recently commented on BR. StockNews.com lowered Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, November 9th. Wolfe Research restated a "peer perform" rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. JPMorgan Chase & Co. lifted their price target on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Morgan Stanley increased their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada lifted their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $239.17.

Insider Activity

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 15,710 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the completion of the sale, the vice president now directly owns 12,146 shares of the company's stock, valued at approximately $2,797,466.72. The trade was a 56.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Laura Matlin sold 514 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president now owns 6,602 shares in the company, valued at $1,595,043.20. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,666 shares of company stock worth $5,050,766 in the last quarter. 1.30% of the stock is owned by corporate insiders.

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.