Prudential Financial Inc. Has $13.56 Million Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Prudential Financial Inc. cut its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 18.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 59,987 shares of the business services provider’s stock after selling 13,957 shares during the period. Prudential Financial Inc.’s holdings in Broadridge Financial Solutions were worth $13,562,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. True Wealth Design LLC raised its holdings in Broadridge Financial Solutions by 2,028.6% in the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after buying an additional 142 shares during the last quarter. Fortitude Family Office LLC raised its stake in shares of Broadridge Financial Solutions by 246.7% during the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 111 shares during the last quarter. FSA Wealth Management LLC bought a new position in shares of Broadridge Financial Solutions during the third quarter valued at $39,000. Global X Japan Co. Ltd. acquired a new position in shares of Broadridge Financial Solutions during the fourth quarter worth $41,000. Finally, Truvestments Capital LLC bought a new stake in shares of Broadridge Financial Solutions in the third quarter worth $45,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Broadridge Financial Solutions

In related news, Director Brett Keller sold 5,442 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $240.40, for a total value of $1,308,256.80. Following the sale, the director now owns 15,536 shares in the company, valued at $3,734,854.40. This represents a 25.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the transaction, the vice president now owns 6,602 shares of the company’s stock, valued at $1,595,043.20. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 124,754 shares of company stock valued at $29,397,793 in the last three months. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of BR opened at $239.12 on Friday. The firm has a market cap of $27.98 billion, a PE ratio of 37.42 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 52-week low of $188.30 and a 52-week high of $246.58. The business’s 50 day moving average price is $236.82 and its two-hundred day moving average price is $227.38. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same quarter in the prior year, the firm posted $0.92 EPS. On average, equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be paid a $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.47%. Broadridge Financial Solutions’s dividend payout ratio is presently 55.09%.

Wall Street Analyst Weigh In

Several research analysts have commented on BR shares. UBS Group lifted their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. lifted their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. DA Davidson reiterated a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Finally, StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $241.00.

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.