Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Capital International Investors

Capital International Investors cut its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 29.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,930,412 shares of the business services provider's stock after selling 821,197 shares during the quarter. Capital International Investors owned approximately 1.65% of Broadridge Financial Solutions worth $436,372,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in Broadridge Financial Solutions in the fourth quarter valued at about $106,904,000. Raymond James Financial Inc. purchased a new stake in Broadridge Financial Solutions during the 4th quarter worth approximately $104,466,000. Corient Private Wealth LLC raised its holdings in shares of Broadridge Financial Solutions by 882.9% in the fourth quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider's stock worth $99,186,000 after buying an additional 392,695 shares during the last quarter. Zacks Investment Management acquired a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth $30,252,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at $25,773,000. Hedge funds and other institutional investors own 90.03% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BR. StockNews.com upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Tuesday. Royal Bank of Canada raised their target price 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. Morgan Stanley upped 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 report on Monday, February 3rd. 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 report on Monday, February 3rd. Finally, DA Davidson reissued a "neutral" rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Broadridge Financial Solutions presently has an average rating of "Hold" and a consensus price target of $241.00.

Insider Buying and Selling

In other news, CEO Timothy C. Gokey sold 95,956 shares of the firm's stock in a transaction 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 in the company, valued at $39,973,188.84. This trade represents a 36.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brett Keller sold 5,442 shares of the stock in a transaction dated 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 sale, the director now directly owns 15,536 shares in the company, valued at $3,734,854.40. This represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 124,754 shares of company stock worth $29,397,793. Company insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR traded up $1.42 during mid-day trading on Wednesday, reaching $236.42. The company's stock had a trading volume of 442,761 shares, compared to its average volume of 522,630. The stock has a market capitalization of $27.67 billion, a P/E ratio of 37.00 and a beta of 1.06. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $247.01. The stock has a 50-day moving average of $234.68 and a two-hundred day moving average of $230.31. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35.

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 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 period in the previous year, the firm earned $0.92 earnings per share. On average, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th were issued a dividend of $0.88 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.49%. Broadridge Financial Solutions's dividend payout ratio is currently 55.09%.

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.