Geode Capital Management LLC Purchases 37,141 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Geode Capital Management LLC lifted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,037,015 shares of the business services provider's stock after buying an additional 37,141 shares during the period. Geode Capital Management LLC owned about 2.60% of Broadridge Financial Solutions worth $684,971,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC raised its position 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 valued at $35,000 after purchasing an additional 111 shares during the period. Global X Japan Co. Ltd. acquired a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at $41,000. Curio Wealth LLC bought a new position in Broadridge Financial Solutions in the fourth quarter valued at about $45,000. Salem Investment Counselors Inc. increased its position in Broadridge Financial Solutions by 200.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 225 shares of the business services provider's stock worth $51,000 after purchasing an additional 150 shares in the last quarter. Finally, Promus Capital LLC bought a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at $52,000. 90.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on BR shares. StockNews.com lowered shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a report on Tuesday, April 1st. JPMorgan Chase & Co. lifted their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. DA Davidson reiterated a "neutral" rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. UBS Group lifted their price target 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. Finally, Wolfe Research reaffirmed a "peer perform" rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $241.00.

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Broadridge Financial Solutions Stock Performance

NYSE BR traded up $15.34 during trading hours on Wednesday, reaching $232.56. 617,299 shares of the company were exchanged, compared to its average volume of 519,563. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $247.01. The business's 50 day simple moving average is $236.00 and its 200-day simple moving average is $229.02. The stock has a market capitalization of $27.21 billion, a P/E ratio of 36.39 and a beta of 1.06. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

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, beating analysts' consensus estimates 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 company posted $0.92 EPS. On average, equities research analysts expect 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 disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Investors 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 yield of 1.51%. Broadridge Financial Solutions's dividend payout ratio (DPR) is 55.09%.

Insiders Place Their Bets

In related news, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Christopher John Perry sold 22,357 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $235.23, for a total value of $5,259,037.11. Following the transaction, the president now owns 52,524 shares of the company's stock, valued at approximately $12,355,220.52. The trade was a 29.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 124,754 shares of company stock worth $29,397,793 in the last quarter. 1.30% of the stock is owned by company insiders.

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.