Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Meridiem Investment Management Ltd.

Meridiem Investment Management Ltd. trimmed its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,069,196 shares of the business services provider's stock after selling 9,073 shares during the quarter. Broadridge Financial Solutions accounts for approximately 4.3% of Meridiem Investment Management Ltd.'s portfolio, making the stock its 14th biggest position. Meridiem Investment Management Ltd. owned about 0.91% of Broadridge Financial Solutions worth $241,825,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BR. Exchange Traded Concepts LLC purchased a new stake in Broadridge Financial Solutions during the third quarter worth approximately $137,000. Creative Planning lifted its stake in Broadridge Financial Solutions by 1.3% during the third quarter. Creative Planning now owns 23,039 shares of the business services provider's stock worth $4,954,000 after purchasing an additional 300 shares during the last quarter. nVerses Capital LLC purchased a new stake in Broadridge Financial Solutions during the third quarter worth approximately $151,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Broadridge Financial Solutions by 16.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,495 shares of the business services provider's stock worth $2,902,000 after purchasing an additional 1,888 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its stake in Broadridge Financial Solutions by 4.2% during the third quarter. V Square Quantitative Management LLC now owns 2,723 shares of the business services provider's stock worth $586,000 after purchasing an additional 110 shares during the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock traded down $2.80 during trading hours on Thursday, hitting $236.14. 438,837 shares of the company were exchanged, compared to its average volume of 464,859. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $244.47. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The business has a 50-day moving average of $232.75 and a 200-day moving average of $223.18. The stock has a market capitalization of $27.63 billion, a price-to-earnings ratio of 36.95 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released 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 return on equity of 44.40% and a net margin of 11.36%. During the same quarter in the previous year, the firm earned $0.92 earnings per share. As a group, 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. Stockholders 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 1.49%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 55.09%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Royal Bank of Canada boosted their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Wolfe Research restated a "peer perform" rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. StockNews.com upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Wednesday. UBS Group boosted their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Finally, DA Davidson reiterated a "neutral" rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $239.17.

Insider Transactions at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 15,710 shares of the company's stock in a transaction 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 transaction, the vice president now owns 12,146 shares of the company's stock, valued at $2,797,466.72. This represents a 56.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Laura Matlin sold 514 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was 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 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 over the last 90 days. 1.30% of the stock is currently owned by 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.