Nordea Investment Management AB Sells 10,314 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Nordea Investment Management AB trimmed its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 12.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 73,399 shares of the business services provider’s stock after selling 10,314 shares during the quarter. Nordea Investment Management AB owned 0.06% of Broadridge Financial Solutions worth $16,596,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Qsemble Capital Management LP bought a new stake in Broadridge Financial Solutions in the third quarter valued at approximately $1,412,000. Atria Investments Inc raised its holdings in Broadridge Financial Solutions by 9.7% during the 3rd quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock valued at $6,373,000 after buying an additional 2,610 shares during the last quarter. Horizon Kinetics Asset Management LLC purchased a new stake in Broadridge Financial Solutions during the 3rd quarter valued at $483,000. Quest Partners LLC bought a new stake in Broadridge Financial Solutions in the 3rd quarter worth $2,251,000. Finally, Legacy Capital Wealth Partners LLC increased its position in shares of Broadridge Financial Solutions by 82.7% in the third quarter. Legacy Capital Wealth Partners LLC now owns 7,107 shares of the business services provider’s stock valued at $1,528,000 after acquiring an additional 3,216 shares during the period. 90.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, VP Thomas P. Carey sold 15,710 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the transaction, the vice president now directly owns 12,146 shares of the company’s stock, valued at $2,797,466.72. This represents a 56.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Douglas Richard Deschutter sold 24,185 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $220.21, for a total value of $5,325,778.85. Following the completion of the sale, the insider now owns 27,137 shares of the company’s stock, valued at $5,975,838.77. The trade was a 47.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,532 shares of company stock worth $12,264,846 in the last quarter. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Morgan Stanley lifted their price objective on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. UBS Group assumed coverage on Broadridge Financial Solutions in a report on Thursday, November 21st. They set a “neutral” rating and a $250.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Finally, StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $226.71.

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $229.42 on Thursday. The company’s fifty day moving average price is $227.87 and its 200-day moving average price is $216.51. The stock has a market cap of $26.82 billion, a PE ratio of 39.69 and a beta of 1.08. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $237.96.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the firm posted $1.09 earnings per share. Broadridge Financial Solutions’s quarterly revenue was down .6% on a year-over-year basis. On average, equities analysts expect that Broadridge Financial Solutions, Inc. will post 8.52 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 13th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio is presently 60.90%.

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.