TIAA Trust National Association Sells 341 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

TIAA Trust National Association lowered its stake in Broadridge Financial Solutions, Inc. (NYSE:BRFree Report) by 5.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,417 shares of the business services provider’s stock after selling 341 shares during the quarter. TIAA Trust National Association’s holdings in Broadridge Financial Solutions were worth $1,115,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Broadridge Financial Solutions by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 13,714,442 shares of the business services provider’s stock valued at $2,135,476,000 after acquiring an additional 108,223 shares in the last quarter. Morgan Stanley increased its stake in Broadridge Financial Solutions by 41.0% during the 4th quarter. Morgan Stanley now owns 7,043,656 shares of the business services provider’s stock valued at $944,766,000 after purchasing an additional 2,048,184 shares in the last quarter. State Street Corp increased its stake in Broadridge Financial Solutions by 0.3% during the 2nd quarter. State Street Corp now owns 4,660,175 shares of the business services provider’s stock valued at $775,189,000 after purchasing an additional 11,728 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Broadridge Financial Solutions by 2.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,488,037 shares of the business services provider’s stock valued at $511,243,000 after purchasing an additional 96,566 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Broadridge Financial Solutions by 1.5% during the 1st quarter. Geode Capital Management LLC now owns 2,519,784 shares of the business services provider’s stock valued at $368,593,000 after purchasing an additional 37,989 shares in the last quarter. Institutional investors own 90.03% of the company’s stock.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 22,722 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the sale, the insider now directly owns 44,680 shares of the company’s stock, valued at $8,891,320. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Douglas Richard Deschutter sold 22,722 shares of the stock in a transaction dated 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 sale, the insider now directly owns 44,680 shares of the company’s stock, valued at $8,891,320. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Thomas P. Carey sold 12,731 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the completion of the sale, the vice president now directly owns 13,303 shares in the company, valued at $2,674,169.06. The disclosure for this sale can be found here. Insiders have sold a total of 48,483 shares of company stock valued at $9,745,637 over the last three months. 1.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BR shares. Royal Bank of Canada boosted their price target on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Raymond James lifted their price objective on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. Morgan Stanley boosted their price target on shares of Broadridge Financial Solutions from $175.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, December 8th. Finally, Evercore ISI reissued an “outperform” rating and issued a $230.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $203.17.

Check Out Our Latest Research Report on BR

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR opened at $199.47 on Thursday. The company has a market capitalization of $23.49 billion, a P/E ratio of 34.75 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a fifty-two week low of $139.35 and a fifty-two week high of $210.24. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.40 and a current ratio of 1.40. The company’s 50-day moving average is $201.70 and its 200 day moving average is $192.72.

Broadridge Financial Solutions (NYSE:BRGet Free Report) last released its quarterly earnings data on Thursday, February 1st. The business services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 earnings per share. On average, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Friday, March 15th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.60%. The ex-dividend date is Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.75%.

Broadridge Financial Solutions Company Profile

(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.

Further Reading

Want to see what other hedge funds are holding BR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadridge Financial Solutions, Inc. (NYSE:BRFree Report).

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

Receive News & Ratings for Broadridge Financial Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadridge Financial Solutions and related companies with MarketBeat.com's FREE daily email newsletter.