SNS Financial Group LLC Sells 796 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

SNS Financial Group LLC decreased its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 10.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,878 shares of the business services provider’s stock after selling 796 shares during the quarter. SNS Financial Group LLC’s holdings in Broadridge Financial Solutions were worth $1,421,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new position in shares of Broadridge Financial Solutions in the 3rd quarter worth about $25,000. Money Concepts Capital Corp boosted its holdings in shares of Broadridge Financial Solutions by 400.0% in the 4th quarter. Money Concepts Capital Corp now owns 195 shares of the business services provider’s stock worth $26,000 after buying an additional 156 shares during the last quarter. Resurgent Financial Advisors LLC purchased a new position in shares of Broadridge Financial Solutions in the 4th quarter worth about $27,000. Headinvest LLC purchased a new position in shares of Broadridge Financial Solutions in the 3rd quarter worth about $32,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of Broadridge Financial Solutions in the 3rd quarter worth about $34,000. Institutional investors own 90.03% of the company’s stock.

Insider Buying and Selling

In related news, VP Thomas P. Carey sold 12,731 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total value of $2,559,185.62. Following the transaction, the vice president now directly owns 13,303 shares in the company, valued at $2,674,169.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 12,731 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the transaction, the vice president now directly owns 13,303 shares in the company, valued at $2,674,169.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert N. Duelks sold 830 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $201.58, for a total transaction of $167,311.40. Following the transaction, the director now owns 5,445 shares in the company, valued at $1,097,603.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,483 shares of company stock worth $9,745,637. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

BR has been the topic of several recent research reports. Morgan Stanley upped their price objective on shares of Broadridge Financial Solutions from $175.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, December 8th. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. Evercore ISI reaffirmed an “outperform” rating and set a $230.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Raymond James upped their price objective on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, Royal Bank of Canada upped their price objective 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. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $203.17.

Broadridge Financial Solutions Price Performance

Shares of BR traded down $1.45 during midday trading on Monday, hitting $203.41. 57,332 shares of the company traded hands, compared to its average volume of 532,489. The stock has a 50-day moving average of $201.97 and a 200-day moving average of $192.44. Broadridge Financial Solutions, Inc. has a one year low of $139.35 and a one year high of $210.24. The firm has a market cap of $23.96 billion, a P/E ratio of 35.54 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 (NYSE:BR) last announced 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 firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the business posted $0.91 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Investors of record on Friday, March 15th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 55.75%.

Broadridge Financial Solutions 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.