Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. trimmed its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,363 shares of the business services provider’s stock after selling 85 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Broadridge Financial Solutions were worth $898,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in BR. Stifel Financial Corp raised its holdings in Broadridge Financial Solutions by 1,700.7% in the third quarter. Stifel Financial Corp now owns 1,542,507 shares of the business services provider’s stock valued at $276,194,000 after buying an additional 1,456,847 shares during the period. Envestnet Asset Management Inc. raised its holdings in Broadridge Financial Solutions by 124.8% in the third quarter. Envestnet Asset Management Inc. now owns 687,830 shares of the business services provider’s stock valued at $123,156,000 after buying an additional 381,882 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in Broadridge Financial Solutions by 601.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 132,831 shares of the business services provider’s stock valued at $27,330,000 after buying an additional 113,905 shares during the period. International Assets Investment Management LLC purchased a new position in Broadridge Financial Solutions in the fourth quarter valued at approximately $227,750,000. Finally, Assenagon Asset Management S.A. raised its holdings in Broadridge Financial Solutions by 1,865.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 93,363 shares of the business services provider’s stock valued at $19,209,000 after buying an additional 88,613 shares during the period. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock traded up $0.59 during mid-day trading on Monday, reaching $199.44. The company’s stock had a trading volume of 25,738 shares, compared to its average volume of 487,990. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.77. The firm has a market cap of $23.49 billion, a price-to-earnings ratio of 34.64 and a beta of 0.98. Broadridge Financial Solutions, Inc. has a twelve month low of $144.54 and a twelve month high of $210.24. The business has a 50 day moving average price of $200.27 and a 200-day moving average price of $195.29.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The firm’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 earnings per share. Sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.75%.

Insiders Place Their Bets

In related news, insider Douglas Richard Deschutter sold 22,722 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total value of $4,521,678.00. Following the transaction, the insider now owns 44,680 shares of the company’s stock, valued at approximately $8,891,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Thomas P. Carey sold 12,731 shares of Broadridge Financial Solutions 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 transaction, the vice president now owns 13,303 shares of the company’s stock, valued at approximately $2,674,169.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas Richard Deschutter sold 22,722 shares of Broadridge Financial Solutions stock in a transaction dated 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 transaction, the insider now directly owns 44,680 shares in the company, valued at approximately $8,891,320. 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. 1.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BR. Evercore ISI reaffirmed an “outperform” rating and issued a $230.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Royal Bank of Canada raised their price target on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday. Raymond James raised their price target on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Finally, DA Davidson reissued a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.