Freedom Investment Management Inc. Has $311,000 Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Freedom Investment Management Inc. lowered its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,376 shares of the business services provider’s stock after selling 92 shares during the period. Freedom Investment Management Inc.’s holdings in Broadridge Financial Solutions were worth $311,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of BR. GeoWealth Management LLC increased its holdings in Broadridge Financial Solutions by 38.0% in the 4th quarter. GeoWealth Management LLC now owns 410 shares of the business services provider’s stock worth $93,000 after purchasing an additional 113 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Broadridge Financial Solutions by 3.5% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 154,416 shares of the business services provider’s stock valued at $34,906,000 after acquiring an additional 5,222 shares in the last quarter. Dean Investment Associates LLC grew its stake in Broadridge Financial Solutions by 4.5% in the 4th quarter. Dean Investment Associates LLC now owns 12,334 shares of the business services provider’s stock valued at $2,789,000 after purchasing an additional 535 shares during the period. Canada Pension Plan Investment Board increased its position in Broadridge Financial Solutions by 3.4% in the fourth quarter. Canada Pension Plan Investment Board now owns 123,001 shares of the business services provider’s stock worth $27,809,000 after buying an additional 4,102 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Broadridge Financial Solutions in the 4th quarter valued at about $20,130,000. Institutional investors own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Royal Bank of Canada increased their target price on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. UBS Group raised their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. raised their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. DA Davidson reissued a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Finally, StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Thursday, April 10th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $241.00.

Insider Activity at Broadridge Financial Solutions

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

Broadridge Financial Solutions Trading Down 3.2 %

Shares of NYSE BR opened at $228.24 on Tuesday. The business’s 50 day moving average is $234.83 and its two-hundred day moving average is $230.28. The stock has a market capitalization of $26.71 billion, a P/E ratio of 35.72 and a beta of 1.06. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $247.01.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping 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 company earned $0.92 EPS. As a group, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Thursday, March 13th. Broadridge Financial Solutions’s 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.