Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC cut its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 36.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 866 shares of the business services provider’s stock after selling 498 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Broadridge Financial Solutions were worth $210,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Broadridge Financial Solutions by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 14,294,766 shares of the business services provider’s stock valued at $3,231,904,000 after acquiring an additional 74,674 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Broadridge Financial Solutions by 50.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider’s stock valued at $804,952,000 after purchasing an additional 1,186,555 shares during the period. Geode Capital Management LLC raised its position in Broadridge Financial Solutions by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 3,037,015 shares of the business services provider’s stock valued at $684,971,000 after purchasing an additional 37,141 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Broadridge Financial Solutions by 2.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,649,761 shares of the business services provider’s stock valued at $378,175,000 after purchasing an additional 43,533 shares during the period. Finally, Barclays PLC raised its position in Broadridge Financial Solutions by 2.5% in the fourth quarter. Barclays PLC now owns 1,648,527 shares of the business services provider’s stock valued at $372,713,000 after purchasing an additional 40,506 shares during the period. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Down 0.1%

Broadridge Financial Solutions stock opened at $238.68 on Wednesday. Broadridge Financial Solutions, Inc. has a twelve month low of $195.64 and a twelve month high of $247.01. The stock’s fifty day simple moving average is $237.97 and its 200-day simple moving average is $235.08. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $28.04 billion, a P/E ratio of 35.89 and a beta of 0.96.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.03. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the company earned $2.23 earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. As a group, equities analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be paid a dividend of $0.88 per share. The ex-dividend date is Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.47%. Broadridge Financial Solutions’s payout ratio is currently 52.93%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,556 shares of the company’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total value of $864,392.48. Following the completion of the transaction, the director now owns 30,892 shares in the company, valued at $7,509,227.36. This represents a 10.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Hope M. Jarkowski sold 1,068 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total transaction of $251,214.96. Following the completion of the transaction, the insider now owns 1,070 shares of the company’s stock, valued at $251,685.40. This represents a 49.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,116 shares of company stock worth $4,352,298. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $259.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Wall Street Zen raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Finally, Needham & Company LLC assumed coverage on Broadridge Financial Solutions in a research report on Tuesday, May 6th. They issued a “buy” rating and a $300.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Broadridge Financial Solutions currently has a consensus rating of “Hold” and an average target price of $250.83.

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.