Motley Fool Asset Management LLC lessened its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 13.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,395 shares of the business services provider's stock after selling 6,118 shares during the period. Motley Fool Asset Management LLC's holdings in Broadridge Financial Solutions were worth $9,133,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC lifted its holdings in Broadridge Financial Solutions by 246.7% in the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider's stock worth $35,000 after buying an additional 111 shares during the period. Global X Japan Co. Ltd. purchased a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth $41,000. Curio Wealth LLC bought a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at $45,000. Salem Investment Counselors Inc. raised its position 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 worth $51,000 after purchasing an additional 150 shares during the last quarter. Finally, Promus Capital LLC bought a new position in Broadridge Financial Solutions in the 4th quarter worth about $52,000. 90.03% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction that occurred 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 of the company's stock, valued at approximately $39,973,188.84. This represents a 36.11 % 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, President Christopher John Perry sold 22,357 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $235.23, for a total value of $5,259,037.11. Following the completion of the sale, the president now directly owns 52,524 shares in the company, valued at approximately $12,355,220.52. The trade was a 29.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 124,754 shares of company stock valued at $29,397,793. Company insiders own 1.30% of the company's stock.
Broadridge Financial Solutions Stock Performance
Shares of Broadridge Financial Solutions stock traded up $3.12 on Tuesday, hitting $223.36. 159,873 shares of the company's stock were exchanged, compared to its average volume of 517,206. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $247.01. The company has a 50-day simple moving average of $237.09 and a 200-day simple moving average of $228.88. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. The stock has a market capitalization of $26.14 billion, a PE ratio of 35.09 and a beta of 1.06.
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 earnings per share (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 firm earned $0.92 earnings per share. As a group, equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.
Broadridge Financial Solutions Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 13th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Thursday, March 13th. Broadridge Financial Solutions's dividend payout ratio (DPR) is 55.09%.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price 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. 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. Wolfe Research reaffirmed a "peer perform" rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. UBS Group lifted their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Finally, Morgan Stanley upped their target price on shares of 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. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Broadridge Financial Solutions presently has a consensus rating of "Hold" and an average target price of $241.00.
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About Broadridge Financial Solutions
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Free Report)
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.
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