Wells Fargo & Company MN Has $270.88 Million Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Wells Fargo & Company MN cut its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,198,106 shares of the business services provider's stock after selling 12,489 shares during the period. Wells Fargo & Company MN owned approximately 1.02% of Broadridge Financial Solutions worth $270,880,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Broadridge Financial Solutions by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 14,294,766 shares of the business services provider's stock valued at $3,231,904,000 after purchasing an additional 74,674 shares during the period. State Street Corp raised its holdings in shares of 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 acquiring an additional 51,439 shares during the period. Geode Capital Management LLC raised its stake in Broadridge Financial Solutions by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 3,037,015 shares of the business services provider's stock valued at $684,971,000 after purchasing an additional 37,141 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Broadridge Financial Solutions by 2.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,649,761 shares of the business services provider's stock valued at $378,175,000 after buying an additional 43,533 shares during the period. Finally, Bahl & Gaynor Inc. lifted its position in shares of Broadridge Financial Solutions by 2.7% in the fourth quarter. Bahl & Gaynor Inc. now owns 1,129,824 shares of the business services provider's stock worth $255,442,000 after purchasing an additional 29,483 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company's stock.

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Wall Street Analyst Weigh In

Several analysts recently issued reports on BR shares. StockNews.com lowered Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a report on Thursday. DA Davidson restated a "neutral" rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. JPMorgan Chase & Co. upped their price target on 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 lifted their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an "equal weight" rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada increased their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $241.00.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR traded up $3.18 during trading 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 debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a market capitalization of $27.10 billion, a PE ratio of 36.24 and a beta of 1.06. The business's 50-day moving average price is $235.60 and its 200 day moving average price is $229.30. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $247.01.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share (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 prior year, the business posted $0.92 EPS. As a group, equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend was Thursday, March 13th. Broadridge Financial Solutions's dividend payout ratio (DPR) is currently 55.09%.

Insider Activity at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 95,956 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $235.43, for a total value 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. The trade was a 36.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Christopher John Perry sold 22,357 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the sale, the president now directly owns 52,524 shares of the company's stock, valued at $12,355,220.52. This represents a 29.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 124,754 shares of company stock worth $29,397,793. 1.30% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Company Profile

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.