Nordea Investment Management AB Cuts Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Nordea Investment Management AB lowered its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 12.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,399 shares of the business services provider's stock after selling 10,314 shares during the quarter. Nordea Investment Management AB owned about 0.06% of Broadridge Financial Solutions worth $16,596,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Bogart Wealth LLC increased its stake in Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider's stock worth $26,000 after purchasing an additional 96 shares during the period. True Wealth Design LLC increased its stake in Broadridge Financial Solutions by 2,028.6% in the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider's stock worth $32,000 after buying an additional 142 shares during the period. Hazlett Burt & Watson Inc. bought a new stake in Broadridge Financial Solutions during the 3rd quarter valued at about $38,000. FSA Wealth Management LLC purchased a new stake in Broadridge Financial Solutions in the 3rd quarter valued at about $39,000. Finally, Reston Wealth Management LLC bought a new position in Broadridge Financial Solutions in the 3rd quarter worth about $45,000. Institutional investors own 90.03% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BR. StockNews.com cut Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, November 9th. Royal Bank of Canada restated an "outperform" rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. DA Davidson upped their price objective on shares of Broadridge Financial Solutions from $210.00 to $215.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. Wolfe Research reissued a "peer perform" rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Finally, Morgan Stanley upped their price target on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 6th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $226.71.

Insider Activity

In other news, Director Maura A. Markus sold 3,880 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the sale, the director now directly owns 27,788 shares in the company, valued at $6,308,431.76. This trade represents a 12.25 % 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, insider Douglas Richard Deschutter sold 24,185 shares of the company's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $220.21, for a total value of $5,325,778.85. Following the completion of the transaction, the insider now directly owns 27,137 shares of the company's stock, valued at $5,975,838.77. The trade was a 47.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,532 shares of company stock valued at $12,264,846 in the last ninety days. Insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock traded up $3.10 during mid-day trading on Thursday, reaching $229.42. 675,908 shares of the company traded hands, compared to its average volume of 600,522. The firm's fifty day moving average is $228.24 and its two-hundred day moving average is $216.60. The company has a market capitalization of $26.82 billion, a price-to-earnings ratio of 39.69 and a beta of 1.08. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $237.96. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.03. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The firm's quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the business posted $1.09 EPS. On average, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 13th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Friday, December 13th. Broadridge Financial Solutions's payout ratio is 60.90%.

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.