T. Rowe Price Investment Management Inc. Lowers Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

T. Rowe Price Investment Management Inc. lessened its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 6.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,495,407 shares of the business services provider's stock after selling 167,692 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 2.13% of Broadridge Financial Solutions worth $564,187,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. World Investment Advisors LLC lifted its position in shares of Broadridge Financial Solutions by 10.9% during the third quarter. World Investment Advisors LLC now owns 4,229 shares of the business services provider's stock worth $909,000 after purchasing an additional 416 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Broadridge Financial Solutions during the 3rd quarter worth approximately $3,530,000. Tidal Investments LLC lifted its holdings in Broadridge Financial Solutions by 43.7% during the 3rd quarter. Tidal Investments LLC now owns 15,300 shares of the business services provider's stock worth $3,290,000 after buying an additional 4,654 shares in the last quarter. American Trust purchased a new position in Broadridge Financial Solutions in the 3rd quarter valued at approximately $2,233,000. Finally, Principal Financial Group Inc. grew its stake in shares of Broadridge Financial Solutions by 4.3% in the third quarter. Principal Financial Group Inc. now owns 157,645 shares of the business services provider's stock worth $33,898,000 after acquiring an additional 6,552 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company's stock.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of the firm's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the transaction, the vice president now directly owns 6,602 shares of the company's stock, valued at approximately $1,595,043.20. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction on Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the transaction, the chief executive officer now owns 169,788 shares in the company, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 124,754 shares of company stock valued at $29,397,793 in the last three months. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. DA Davidson reiterated a "neutral" rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. 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. StockNews.com upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Tuesday. Finally, UBS Group boosted their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $241.00.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $235.10 on Wednesday. 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, Inc. has a 52-week low of $188.30 and a 52-week high of $247.01. The stock has a 50 day moving average price of $234.68 and a 200 day moving average price of $230.31. The company has a market capitalization of $27.51 billion, a price-to-earnings ratio of 36.79 and a beta of 1.06.

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, 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 previous year, the business posted $0.92 earnings per share. Research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was 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.

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