Rhumbline Advisers Reduces Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Rhumbline Advisers decreased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 244,795 shares of the business services provider's stock after selling 6,214 shares during the quarter. Rhumbline Advisers owned approximately 0.21% of Broadridge Financial Solutions worth $55,346,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in BR. Exchange Traded Concepts LLC acquired a new position in Broadridge Financial Solutions during the third quarter worth approximately $137,000. Creative Planning grew its position in shares of Broadridge Financial Solutions by 1.3% during the third quarter. Creative Planning now owns 23,039 shares of the business services provider's stock worth $4,954,000 after acquiring an additional 300 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Broadridge Financial Solutions in the 3rd quarter valued at $151,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Broadridge Financial Solutions by 16.3% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,495 shares of the business services provider's stock valued at $2,902,000 after purchasing an additional 1,888 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its stake in Broadridge Financial Solutions by 4.2% during the 3rd quarter. V Square Quantitative Management LLC now owns 2,723 shares of the business services provider's stock worth $586,000 after purchasing an additional 110 shares during the period. Institutional investors and hedge funds own 90.03% of the company's stock.

Insiders Place Their Bets

In other news, VP Thomas P. Carey sold 15,710 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the transaction, the vice president now directly owns 12,146 shares of the company's stock, valued at $2,797,466.72. The trade was a 56.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Brett Keller sold 5,442 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the sale, the director now directly owns 15,536 shares of the company's stock, valued at approximately $3,734,854.40. This trade represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,666 shares of company stock valued at $5,050,766 in the last quarter. 1.30% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Price Performance

Shares of BR traded down $2.80 on Thursday, reaching $236.14. The stock had a trading volume of 438,837 shares, compared to its average volume of 464,859. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $244.47. The firm has a market capitalization of $27.63 billion, a PE ratio of 36.95 and a beta of 1.08. The firm has a 50-day moving average of $232.75 and a 200 day moving average of $223.09. 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 issued its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates 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 quarter in the previous year, the business posted $0.92 earnings per share. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions's dividend payout ratio is presently 55.09%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BR. Morgan Stanley lifted 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 note on Monday, February 3rd. Royal Bank of Canada boosted their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. DA Davidson reaffirmed a "neutral" rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Wolfe Research reissued a "peer perform" rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Finally, StockNews.com raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price 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.