Sumitomo Mitsui Trust Group Inc. Sells 3,281 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 262,159 shares of the business services provider's stock after selling 3,281 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.22% of Broadridge Financial Solutions worth $59,272,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bogart Wealth LLC increased its position in shares of Broadridge Financial Solutions by 384.0% in the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider's stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of 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 valued at $32,000 after acquiring an additional 142 shares during the last quarter. Fortitude Family Office LLC increased its holdings in shares of Broadridge Financial Solutions by 246.7% in 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 during the last quarter. Hazlett Burt & Watson Inc. purchased a new position in shares of Broadridge Financial Solutions in the 3rd quarter valued at about $38,000. Finally, FSA Wealth Management LLC purchased a new position in Broadridge Financial Solutions in the third quarter valued at approximately $39,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on BR shares. UBS Group lifted their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. upped their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Royal Bank of Canada increased their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. Wolfe Research restated a "peer perform" rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Finally, Morgan Stanley raised their target price 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. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $239.17.

Broadridge Financial Solutions Trading Up 0.1 %

BR traded up $0.32 during trading on Thursday, reaching $242.70. The company had a trading volume of 344,379 shares, compared to its average volume of 465,861. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $243.63. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.39 and a current ratio of 1.35. The company has a market cap of $28.40 billion, a price-to-earnings ratio of 37.98 and a beta of 1.08. The firm's 50-day simple moving average is $232.39 and its 200 day simple moving average is $222.32.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings results 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 return on equity of 44.40% and a net margin of 11.36%. During the same quarter last year, the business posted $0.92 earnings per share. Equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be paid a $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.45%. Broadridge Financial Solutions's dividend payout ratio is presently 55.09%.

Insider Activity

In related news, VP Thomas P. Carey sold 15,710 shares of the firm's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total value of $3,618,327.20. Following the completion of the transaction, the vice president now directly owns 12,146 shares of the company's stock, valued at approximately $2,797,466.72. This trade represents a 56.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the transaction, the vice president now owns 6,602 shares of the company's stock, valued at $1,595,043.20. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,666 shares of company stock worth $5,050,766. Corporate insiders own 1.30% of the company's stock.

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.