Russell Investments Group Ltd. Lowers Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Russell Investments Group Ltd. reduced its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 16.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 72,412 shares of the business services provider’s stock after selling 14,361 shares during the quarter. Russell Investments Group Ltd.’s holdings in Broadridge Financial Solutions were worth $14,901,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of BR. Procyon Advisors LLC lifted its holdings in 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 valued at $477,000 after acquiring an additional 52 shares during the period. Optas LLC lifted its position in shares of Broadridge Financial Solutions by 3.8% during the 4th quarter. Optas LLC now owns 1,565 shares of the business services provider’s stock valued at $322,000 after acquiring an additional 57 shares during the period. Signaturefd LLC boosted its stake in shares of Broadridge Financial Solutions by 3.8% during the 4th quarter. Signaturefd LLC now owns 1,596 shares of the business services provider’s stock worth $328,000 after acquiring an additional 58 shares in the last quarter. Teamwork Financial Advisors LLC grew its holdings in shares of Broadridge Financial Solutions by 1.6% in the 4th quarter. Teamwork Financial Advisors LLC now owns 4,090 shares of the business services provider’s stock worth $841,000 after acquiring an additional 63 shares during the period. Finally, Tributary Capital Management LLC grew its holdings in shares of Broadridge Financial Solutions by 1.6% in the 4th quarter. Tributary Capital Management LLC now owns 4,372 shares of the business services provider’s stock worth $900,000 after acquiring an additional 68 shares during the period. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Performance

Shares of NYSE BR opened at $198.95 on Friday. The company has a 50-day simple moving average of $200.32 and a 200-day simple moving average of $194.93. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.40 and a quick ratio of 1.40. The company has a market cap of $23.43 billion, a PE ratio of 34.66 and a beta of 0.98. Broadridge Financial Solutions, Inc. has a 12 month low of $144.54 and a 12 month high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The company had revenue of $1.41 billion during 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. Broadridge Financial Solutions’s revenue was up 8.7% on a year-over-year basis. On average, equities analysts anticipate 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 announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a dividend of $0.80 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.20 annualized dividend and a yield of 1.61%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.75%.

Wall Street Analysts Forecast Growth

BR has been the topic of a number of research analyst reports. Raymond James boosted 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 issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. Evercore ISI restated an “outperform” rating and set a $230.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Royal Bank of Canada upped 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. Finally, StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadridge Financial Solutions has an average rating of “Moderate Buy” and an average target price of $206.67.

Insiders Place Their Bets

In related news, insider Douglas Richard Deschutter sold 22,722 shares of the business’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 completion of the sale, the insider now directly owns 44,680 shares in the company, 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 Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 22,722 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 44,680 shares of the company’s stock, valued at $8,891,320. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert N. Duelks sold 830 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $201.58, for a total value of $167,311.40. Following the completion of the transaction, the director now directly owns 5,445 shares in the company, valued at $1,097,603.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,483 shares of company stock valued at $9,745,637. Insiders own 1.60% of the company’s stock.

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.