6,717 Shares in Broadridge Financial Solutions, Inc. (NYSE:BR) Bought by Edgestream Partners L.P.

Edgestream Partners L.P. acquired a new stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,717 shares of the business services provider's stock, valued at approximately $1,519,000.

Other hedge funds have also recently modified their holdings of the company. State Street Corp boosted its position in Broadridge Financial Solutions by 1.0% during the 3rd 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 in the last quarter. Geode Capital Management LLC boosted its position in Broadridge Financial Solutions by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider's stock valued at $643,018,000 after acquiring an additional 15,208 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Broadridge Financial Solutions by 0.4% during the third quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider's stock valued at $342,856,000 after purchasing an additional 5,813 shares during the last quarter. Bahl & Gaynor Inc. lifted its holdings in shares of Broadridge Financial Solutions by 2.7% during the fourth quarter. Bahl & Gaynor Inc. now owns 1,129,824 shares of the business services provider's stock valued at $255,442,000 after purchasing an additional 29,483 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Broadridge Financial Solutions by 2.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider's stock valued at $194,585,000 after purchasing an additional 20,775 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company's stock.

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Broadridge Financial Solutions Stock Up 1.0 %

Shares of NYSE BR traded up $2.19 during midday trading on Friday, reaching $227.76. 297,669 shares of the company's stock traded hands, compared to its average volume of 472,901. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock's 50 day simple moving average is $235.43 and its 200-day simple moving average is $225.77. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $246.58. The company has a market cap of $26.65 billion, a price-to-earnings ratio of 35.64 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating 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 earnings per share. On average, analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 annualized dividend and a yield of 1.55%. Broadridge Financial Solutions's dividend payout ratio (DPR) is 55.09%.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of the firm's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the transaction, the vice president now owns 6,602 shares of the company's stock, valued at approximately $1,595,043.20. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 of the company's stock, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 124,754 shares of company stock worth $29,397,793 over the last three months. Corporate insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wolfe Research restated a "peer perform" rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. 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 report on Monday, February 3rd. Morgan Stanley boosted their price objective 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. Royal Bank of Canada upped 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. Finally, StockNews.com upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $239.17.

Broadridge Financial Solutions 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.