Key Financial Inc Sells 46 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Key Financial Inc reduced its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,117 shares of the business services provider’s stock after selling 46 shares during the quarter. Key Financial Inc’s holdings in Broadridge Financial Solutions were worth $253,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in BR. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Broadridge Financial Solutions in the 3rd quarter valued at $44,746,000. Assenagon Asset Management S.A. lifted its position in shares of Broadridge Financial Solutions by 3,197.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider’s stock worth $43,945,000 after buying an additional 198,169 shares during the last quarter. Benjamin Edwards Inc. lifted its position in shares of Broadridge Financial Solutions by 2,302.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 147,004 shares of the business services provider’s stock worth $31,618,000 after buying an additional 140,886 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Broadridge Financial Solutions during the 3rd quarter worth $274,650,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Broadridge Financial Solutions by 97.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 198,878 shares of the business services provider’s stock worth $42,765,000 after buying an additional 98,275 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Trading Down 1.0 %

Shares of BR stock opened at $240.40 on Tuesday. The stock has a market cap of $28.13 billion, a price-to-earnings ratio of 37.62 and a beta of 1.08. The stock has a 50-day moving average of $232.63 and a 200-day moving average of $222.81. The company has a current ratio of 1.35, a quick ratio of 1.39 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $244.47.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating the consensus estimate 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 in the previous year, the business earned $0.92 earnings per share. On average, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 annualized dividend and a yield of 1.46%. Broadridge Financial Solutions’s dividend payout ratio is currently 55.09%.

Insider Buying and Selling

In related news, Director Brett Keller sold 5,442 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the completion of the sale, the director now owns 15,536 shares of the company’s stock, valued at $3,734,854.40. This trade represents a 25.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Thomas P. Carey sold 15,710 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 21,666 shares of company stock valued at $5,050,766 over the last 90 days. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on BR. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. JPMorgan Chase & Co. increased their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Morgan Stanley increased their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. UBS Group increased their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Finally, StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $239.17.

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.