Bell Asset Management Ltd Sells 260 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Bell Asset Management Ltd lowered its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.9% in the fourth quarter, HoldingsChannel reports. The fund owned 28,962 shares of the business services provider’s stock after selling 260 shares during the period. Bell Asset Management Ltd’s holdings in Broadridge Financial Solutions were worth $6,548,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Broadridge Financial Solutions by 53.5% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock valued at $2,434,000 after purchasing an additional 3,753 shares during the last quarter. Miracle Mile Advisors LLC boosted its stake in Broadridge Financial Solutions by 98.0% in the fourth quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider’s stock valued at $550,000 after acquiring an additional 1,204 shares during the last quarter. Y Intercept Hong Kong Ltd grew its holdings in Broadridge Financial Solutions by 121.3% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 11,561 shares of the business services provider’s stock worth $2,486,000 after acquiring an additional 6,336 shares during the period. Park Place Capital Corp raised its position in shares of Broadridge Financial Solutions by 31.3% during the 4th quarter. Park Place Capital Corp now owns 5,831 shares of the business services provider’s stock valued at $1,318,000 after acquiring an additional 1,391 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of Broadridge Financial Solutions by 6.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 35,497 shares of the business services provider’s stock valued at $7,633,000 after purchasing an additional 2,279 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Buying and Selling

In related news, CEO Timothy C. Gokey sold 95,956 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the transaction, the chief executive officer now directly owns 169,788 shares in the company, valued at approximately $39,973,188.84. The trade was a 36.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Christopher John Perry sold 22,357 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the completion of the sale, the president now owns 52,524 shares of the company’s stock, valued at approximately $12,355,220.52. This represents a 29.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 124,754 shares of company stock worth $29,397,793. 1.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. UBS Group lifted their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Morgan Stanley upped their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada lifted their price target on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $241.00.

Broadridge Financial Solutions Trading Down 6.1 %

BR opened at $225.19 on Monday. The stock has a market capitalization of $26.35 billion, a P/E ratio of 35.24 and a beta of 1.06. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $247.01. The firm’s fifty day simple moving average is $237.48 and its 200 day simple moving average is $228.80.

Broadridge Financial Solutions (NYSE:BR) last announced 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 return on equity of 44.40% and a net margin of 11.36%. During the same period last year, the firm posted $0.92 EPS. As a group, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is presently 55.09%.

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.