Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Sigma Planning Corp

Sigma Planning Corp lowered its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 42.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,125 shares of the business services provider’s stock after selling 814 shares during the period. Sigma Planning Corp’s holdings in Broadridge Financial Solutions were worth $231,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. IFP Advisors Inc grew its holdings in Broadridge Financial Solutions by 33.5% in the third quarter. IFP Advisors Inc now owns 550 shares of the business services provider’s stock valued at $98,000 after purchasing an additional 138 shares during the last quarter. DAVENPORT & Co LLC acquired a new stake in Broadridge Financial Solutions in the third quarter valued at $210,000. Czech National Bank grew its holdings in Broadridge Financial Solutions by 47.8% in the third quarter. Czech National Bank now owns 20,644 shares of the business services provider’s stock valued at $3,696,000 after purchasing an additional 6,678 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Broadridge Financial Solutions by 6.7% in the third quarter. Asset Management One Co. Ltd. now owns 52,796 shares of the business services provider’s stock valued at $9,453,000 after acquiring an additional 3,335 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC lifted its position 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 valued at $353,000 after acquiring an additional 82 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Activity

In other news, insider Douglas Richard Deschutter sold 12,200 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $204.71, for a total value of $2,497,462.00. Following the completion of the sale, the insider now owns 32,480 shares in the company, valued at $6,648,980.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, 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 value of $2,559,185.62. Following the completion of the sale, the vice president now owns 13,303 shares in the company, valued at $2,674,169.06. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Douglas Richard Deschutter sold 12,200 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $204.71, for a total value of $2,497,462.00. Following the completion of the sale, the insider now owns 32,480 shares of the company’s stock, valued at approximately $6,648,980.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,483 shares of company stock worth $9,745,637. 1.60% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock opened at $194.15 on Monday. The stock’s 50-day moving average is $200.54 and its 200-day moving average is $194.72. The company has a market cap of $22.87 billion, a price-to-earnings ratio of 33.82 and a beta of 0.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.40 and a quick ratio of 1.40. Broadridge Financial Solutions, Inc. has a 12 month low of $140.06 and a 12 month high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Thursday, February 1st. The business services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the business posted $0.91 EPS. Equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.80 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.65%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 55.75%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BR. Evercore ISI reiterated an “outperform” rating and set a $230.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Royal Bank of Canada increased their target price on Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Raymond James increased their target price on Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. DA Davidson reiterated a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. Finally, StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $206.67.

Broadridge Financial Solutions Company 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.