Northern Trust Corp Has $255.18 Million Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Northern Trust Corp reduced its holdings in Broadridge Financial Solutions, Inc. (NYSE:BRFree Report) by 6.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,240,254 shares of the business services provider’s stock after selling 82,725 shares during the period. Northern Trust Corp owned 1.05% of Broadridge Financial Solutions worth $255,182,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Cibc World Markets Corp increased its stake in Broadridge Financial Solutions by 132.6% in the 4th quarter. Cibc World Markets Corp now owns 15,160 shares of the business services provider’s stock valued at $3,119,000 after buying an additional 8,641 shares during the last quarter. Public Employees Retirement Association of Colorado increased its stake in shares of Broadridge Financial Solutions by 1,966.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 133,909 shares of the business services provider’s stock worth $27,552,000 after purchasing an additional 127,428 shares during the last quarter. 1832 Asset Management L.P. increased its stake in shares of Broadridge Financial Solutions by 10.0% during the 4th quarter. 1832 Asset Management L.P. now owns 5,004 shares of the business services provider’s stock worth $1,030,000 after purchasing an additional 454 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Broadridge Financial Solutions by 162.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 19,261 shares of the business services provider’s stock worth $3,963,000 after purchasing an additional 11,916 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Broadridge Financial Solutions by 1.7% during the 4th quarter. First Trust Advisors LP now owns 447,399 shares of the business services provider’s stock worth $92,052,000 after purchasing an additional 7,374 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BR shares. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Thursday. DA Davidson restated a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th. Finally, Evercore ISI restated an “outperform” rating and set a $230.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Broadridge Financial Solutions has a consensus rating of “Moderate Buy” and an average price target of $206.67.

Read Our Latest Research Report on BR

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $198.04 on Friday. The company has a market capitalization of $23.40 billion, a price-to-earnings ratio of 33.80 and a beta of 1.03. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.39 and a current ratio of 1.39. The company has a 50-day simple moving average of $198.37 and a 200 day simple moving average of $199.07. Broadridge Financial Solutions, Inc. has a 52 week low of $152.47 and a 52 week high of $210.24.

Broadridge Financial Solutions (NYSE:BRGet Free Report) last announced its earnings results on Wednesday, May 8th. The business services provider reported $2.23 EPS for the quarter, missing the consensus estimate of $2.24 by ($0.01). The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.05 EPS. On average, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio is currently 54.61%.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 3,473 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total value of $687,862.38. Following the completion of the sale, the director now owns 22,588 shares of the company’s stock, valued at approximately $4,473,779.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Thomas P. Carey sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.40, for a total value of $501,000.00. Following the completion of the transaction, the vice president now directly owns 9,361 shares in the company, valued at approximately $1,875,944.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert N. Duelks sold 3,473 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total transaction of $687,862.38. Following the completion of the transaction, the director now owns 22,588 shares of the company’s stock, valued at $4,473,779.28. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

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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