Prudential PLC trimmed its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 13.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,743 shares of the business services provider's stock after selling 7,821 shares during the quarter. Prudential PLC's holdings in Broadridge Financial Solutions were worth $11,246,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BR. Fortitude Family Office LLC increased its stake in shares of 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 purchasing an additional 111 shares in the last quarter. Global X Japan Co. Ltd. purchased a new position in Broadridge Financial Solutions in the 4th quarter valued at approximately $41,000. Curio Wealth LLC bought a new stake in Broadridge Financial Solutions during the 4th quarter valued at $45,000. Salem Investment Counselors Inc. lifted its position in shares of Broadridge Financial Solutions by 200.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 225 shares of the business services provider's stock worth $51,000 after acquiring an additional 150 shares in the last quarter. Finally, Promus Capital LLC bought a new position in shares of Broadridge Financial Solutions in the fourth quarter worth $52,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, Director Brett Keller sold 5,442 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the completion of the transaction, the director now owns 15,536 shares in the company, valued at $3,734,854.40. This represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction 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 sale, the chief executive officer now owns 169,788 shares in the company, valued at approximately $39,973,188.84. This trade represents a 36.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 124,754 shares of company stock valued at $29,397,793 in the last quarter. Insiders own 1.30% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on BR shares. JPMorgan Chase & Co. increased their price objective on 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 increased their price target on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. UBS Group boosted their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Wolfe Research reiterated a "peer perform" rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Finally, Morgan Stanley boosted their price target 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. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $241.00.
Get Our Latest Analysis on BR
Broadridge Financial Solutions Price Performance
Shares of BR stock traded down $6.30 during trading hours on Thursday, hitting $225.99. 242,960 shares of the company's stock were exchanged, compared to its average volume of 518,577. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $247.01. The company has a market capitalization of $26.45 billion, a PE ratio of 35.39 and a beta of 1.06. The business's 50 day simple moving average is $236.00 and its 200-day simple moving average is $229.02. 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 (NYSE:BR - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share 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 period in the prior year, the firm earned $0.92 earnings per share. On average, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.
Broadridge Financial Solutions Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $3.52 annualized dividend and a yield of 1.56%. Broadridge Financial Solutions's payout ratio is currently 55.09%.
About Broadridge Financial Solutions
(
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.
Further Reading
Before you consider Broadridge Financial Solutions, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Broadridge Financial Solutions wasn't on the list.
While Broadridge Financial Solutions currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
