Swiss National Bank Trims Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Swiss National Bank cut its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 5.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 330,100 shares of the business services provider's stock after selling 20,700 shares during the period. Swiss National Bank owned about 0.28% of Broadridge Financial Solutions worth $74,632,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. raised its stake in Broadridge Financial Solutions by 57.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 32,319 shares of the business services provider's stock valued at $7,307,000 after purchasing an additional 11,824 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Broadridge Financial Solutions by 9.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 722 shares of the business services provider's stock valued at $163,000 after purchasing an additional 64 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in Broadridge Financial Solutions in the 4th quarter valued at about $238,000. HighTower Advisors LLC raised its stake in Broadridge Financial Solutions by 1.6% in the 4th quarter. HighTower Advisors LLC now owns 121,742 shares of the business services provider's stock valued at $27,525,000 after purchasing an additional 1,881 shares during the last quarter. Finally, AGF Management Ltd. acquired a new position in Broadridge Financial Solutions in the 4th quarter valued at about $2,513,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several brokerages recently weighed in on BR. StockNews.com raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. UBS Group upped their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. upped their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a research note 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 note on Tuesday, January 21st. Finally, Wolfe Research reaffirmed a "peer perform" rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $239.17.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the transaction, the vice president now owns 6,602 shares in the company, valued at $1,595,043.20. This represents a 7.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $22,590,921.08. Following the completion of the transaction, the chief executive officer now owns 169,788 shares of the company's stock, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 124,754 shares of company stock worth $29,397,793. 1.30% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Trading Up 1.8 %

Shares of NYSE:BR traded up $4.17 during trading on Wednesday, reaching $235.40. 518,734 shares of the stock were exchanged, compared to its average volume of 517,839. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $246.58. The firm has a market cap of $27.55 billion, a price-to-earnings ratio of 36.84 and a beta of 1.05. The firm's 50-day moving average price is $235.61 and its 200 day moving average price is $226.37.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 previous year, the company posted $0.92 earnings per share. On average, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

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 issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions's payout ratio is currently 55.09%.

Broadridge Financial Solutions 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.