Castellan Group Trims Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Castellan Group lessened its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 13.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,256 shares of the business services provider's stock after selling 1,717 shares during the period. Castellan Group's holdings in Broadridge Financial Solutions were worth $2,545,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWM LLC boosted its position in Broadridge Financial Solutions by 3.3% during the third quarter. CWM LLC now owns 7,272 shares of the business services provider's stock worth $1,564,000 after acquiring an additional 231 shares during the last quarter. Ritholtz Wealth Management lifted its stake in Broadridge Financial Solutions by 23.1% in the 3rd quarter. Ritholtz Wealth Management now owns 1,487 shares of the business services provider's stock worth $320,000 after purchasing an additional 279 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Broadridge Financial Solutions during the 3rd quarter worth approximately $137,000. Creative Planning grew its position in shares of Broadridge Financial Solutions by 1.3% in the third quarter. Creative Planning now owns 23,039 shares of the business services provider's stock valued at $4,954,000 after purchasing an additional 300 shares in the last quarter. Finally, NBC Securities Inc. increased its holdings in shares of Broadridge Financial Solutions by 0.8% in the third quarter. NBC Securities Inc. now owns 5,951 shares of the business services provider's stock valued at $1,279,000 after purchasing an additional 45 shares during the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 15,710 shares of the firm's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the transaction, the vice president now directly owns 12,146 shares in the company, valued at $2,797,466.72. This trade represents a 56.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the transaction, the vice president now owns 6,602 shares in the company, valued at $1,595,043.20. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,666 shares of company stock valued at $5,050,766. Corporate insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BR. DA Davidson reaffirmed a "neutral" rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. JPMorgan Chase & Co. increased their target price on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Morgan Stanley lifted 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 report on Monday, February 3rd. Royal Bank of Canada increased their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. Finally, UBS Group increased their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $239.17.

Broadridge Financial Solutions Stock Down 1.0 %

NYSE:BR traded down $2.35 during trading hours on Monday, hitting $240.40. 277,689 shares of the company's stock traded hands, compared to its average volume of 442,394. The firm has a market cap of $28.13 billion, a P/E ratio of 37.62 and a beta of 1.08. The stock's fifty day moving average price is $232.49 and its two-hundred day moving average price is $222.64. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $244.47. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.39 and a current ratio of 1.35.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced 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 net margin of 11.36% and a return on equity of 44.40%. During the same period in the prior year, the business earned $0.92 EPS. On average, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.46%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 55.09%.

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.