Gradient Investments LLC Trims Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Gradient Investments LLC reduced its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BRFree Report) by 99.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 446 shares of the business services provider’s stock after selling 101,103 shares during the period. Gradient Investments LLC’s holdings in Broadridge Financial Solutions were worth $92,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Procyon Advisors LLC increased its stake in shares of Broadridge Financial Solutions by 2.3% in the fourth quarter. Procyon Advisors LLC now owns 2,319 shares of the business services provider’s stock worth $477,000 after purchasing an additional 52 shares in the last quarter. Tributary Capital Management LLC increased its stake in shares of Broadridge Financial Solutions by 1.6% in the fourth quarter. Tributary Capital Management LLC now owns 4,372 shares of the business services provider’s stock worth $900,000 after purchasing an additional 68 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Broadridge Financial Solutions by 0.6% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 11,633 shares of the business services provider’s stock worth $2,083,000 after purchasing an additional 69 shares in the last quarter. Lantz Financial LLC increased its stake in shares of Broadridge Financial Solutions by 0.7% in the fourth quarter. Lantz Financial LLC now owns 10,933 shares of the business services provider’s stock worth $2,249,000 after purchasing an additional 73 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its stake in shares of Broadridge Financial Solutions by 4.3% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,974 shares of the business services provider’s stock worth $353,000 after purchasing an additional 82 shares in the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Broadridge Financial Solutions

In related news, insider Douglas Richard Deschutter sold 22,722 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the sale, the insider now owns 44,680 shares in the company, valued at approximately $8,891,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 830 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $201.58, for a total transaction of $167,311.40. Following the completion of the transaction, the director now owns 5,445 shares in the company, valued at $1,097,603.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas Richard Deschutter sold 22,722 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total value of $4,521,678.00. Following the transaction, the insider now directly owns 44,680 shares in the company, valued at approximately $8,891,320. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,483 shares of company stock worth $9,745,637. 1.60% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock opened at $204.86 on Friday. Broadridge Financial Solutions, Inc. has a 52-week low of $139.35 and a 52-week high of $210.24. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.77. The firm’s fifty day moving average is $201.97 and its 200 day moving average is $192.41. The company has a market cap of $24.13 billion, a price-to-earnings ratio of 35.69 and a beta of 0.99.

Broadridge Financial Solutions (NYSE:BRGet Free Report) last posted its earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the firm posted $0.91 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. Sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, March 14th. Broadridge Financial Solutions’s payout ratio is 55.75%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Morgan Stanley increased their price objective on shares of Broadridge Financial Solutions from $175.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, December 8th. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday. Royal Bank of Canada lifted their price target on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Raymond James boosted their price target on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Finally, Evercore ISI restated an “outperform” rating and set a $230.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $203.17.

View Our Latest Stock Analysis on Broadridge Financial Solutions

About Broadridge Financial Solutions

(Free Report)

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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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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