Legal & General Group Plc trimmed its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 9.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 949,317 shares of the business services provider's stock after selling 102,760 shares during the quarter. Legal & General Group Plc owned approximately 0.81% of Broadridge Financial Solutions worth $214,631,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of BR. Vanguard Group Inc. raised its holdings in Broadridge Financial Solutions by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 14,294,766 shares of the business services provider's stock valued at $3,231,904,000 after buying an additional 74,674 shares during the period. Geode Capital Management LLC grew its position in Broadridge Financial Solutions by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 3,037,015 shares of the business services provider's stock valued at $684,971,000 after acquiring an additional 37,141 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Broadridge Financial Solutions by 2.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,649,761 shares of the business services provider's stock worth $378,175,000 after purchasing an additional 43,533 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Broadridge Financial Solutions by 3.9% in the fourth quarter. Invesco Ltd. now owns 1,461,011 shares of the business services provider's stock valued at $330,320,000 after purchasing an additional 55,080 shares during the period. Finally, Bahl & Gaynor Inc. grew its holdings in shares of Broadridge Financial Solutions by 2.7% in 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 in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 169,788 shares of the company's stock, valued at $39,973,188.84. This represents a 36.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert N. Duelks sold 485 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $237.93, for a total value of $115,396.05. Following the completion of the transaction, the director now owns 4,960 shares in the company, valued at $1,180,132.80. This trade represents a 8.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,754 shares of company stock valued at $29,397,793. 1.30% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
BR has been the subject of several research reports. JPMorgan Chase & Co. boosted their price target on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. StockNews.com downgraded Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a report on Thursday, April 10th. UBS Group lifted their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a research note 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 research note on Monday, February 3rd. Finally, DA Davidson reiterated a "neutral" rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $241.00.
Check Out Our Latest Report on Broadridge Financial Solutions
Broadridge Financial Solutions Stock Down 0.2 %
BR traded down $0.38 on Tuesday, reaching $236.15. The company's stock had a trading volume of 74,834 shares, compared to its average volume of 519,734. The company has a market capitalization of $27.63 billion, a price-to-earnings ratio of 36.96 and a beta of 1.06. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $247.01. 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 has a 50 day moving average of $235.54 and a two-hundred day moving average of $229.60.
Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) 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 firm earned $0.92 earnings per share. As a group, analysts forecast 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. Shareholders of record on Thursday, March 13th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.49%. The ex-dividend date was Thursday, March 13th. Broadridge Financial Solutions's dividend payout ratio (DPR) is 55.09%.
Broadridge Financial Solutions Profile
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Free Report)
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.
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