Intech Investment Management LLC Sells 18,321 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Intech Investment Management LLC decreased its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 34.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,150 shares of the business services provider's stock after selling 18,321 shares during the period. Intech Investment Management LLC's holdings in Broadridge Financial Solutions were worth $7,721,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. True Wealth Design LLC raised its holdings in shares of Broadridge Financial Solutions by 2,028.6% during the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider's stock valued at $32,000 after buying an additional 142 shares during the last quarter. Fortitude Family Office LLC raised its stake in Broadridge Financial Solutions by 246.7% during the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider's stock valued at $35,000 after acquiring an additional 111 shares in the last quarter. Global X Japan Co. Ltd. acquired a new position in Broadridge Financial Solutions during the 4th quarter worth $41,000. FSA Wealth Management LLC bought a new position in shares of Broadridge Financial Solutions in the third quarter worth $39,000. Finally, Curio Wealth LLC acquired a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at $45,000. Institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Price Performance

NYSE:BR traded down $0.78 during trading hours on Friday, reaching $233.03. 1,115,387 shares of the company's stock were exchanged, compared to its average volume of 475,808. 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 company has a market capitalization of $27.27 billion, a P/E ratio of 36.47 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $246.58. The business's 50-day simple moving average is $236.05 and its two-hundred day simple moving average is $226.73.

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Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its 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 quarter in the prior year, the business earned $0.92 earnings per share. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be issued a $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.51%. Broadridge Financial Solutions's dividend payout ratio is 55.09%.

Insider Activity at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 95,956 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now directly owns 169,788 shares of the company's stock, valued at $39,973,188.84. This trade represents a 36.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 sale, the vice president now owns 6,602 shares of the company's stock, valued at approximately $1,595,043.20. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 124,754 shares of company stock valued at $29,397,793. Corporate insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BR shares. Wolfe Research reiterated a "peer perform" rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. 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 report on Monday, February 3rd. JPMorgan Chase & Co. boosted 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. UBS Group upped their target price 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. Finally, Morgan Stanley lifted their price target on 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. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of "Hold" and a consensus price target of $239.17.

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.