Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Prudential PLC

Prudential PLC reduced its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 13.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 49,743 shares of the business services provider’s stock after selling 7,821 shares during the quarter. Prudential PLC’s holdings in Broadridge Financial Solutions were worth $11,246,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Fortitude Family Office LLC lifted its stake in 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 purchasing an additional 111 shares during the last quarter. Global X Japan Co. Ltd. acquired a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at $41,000. Curio Wealth LLC bought a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth $45,000. Salem Investment Counselors Inc. grew its holdings in shares of Broadridge Financial Solutions by 200.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 225 shares of the business services provider’s stock worth $51,000 after acquiring an additional 150 shares during the last quarter. Finally, Promus Capital LLC acquired a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth $52,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BR has been the subject of a number of recent analyst reports. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday. UBS Group upped their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Morgan Stanley boosted 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 increased their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. 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.com, the stock has a consensus rating of “Hold” and an average target price of $241.00.

Insider Activity at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction dated Monday, March 10th. The stock was 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 owns 169,788 shares of the company’s stock, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brett Keller sold 5,442 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 15,536 shares in the company, valued at $3,734,854.40. The trade was a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 124,754 shares of company stock valued at $29,397,793. 1.30% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Stock Down 6.1 %

BR stock opened at $225.19 on Friday. The company has a 50 day moving average of $237.48 and a two-hundred day moving average of $228.53. The company has a market cap of $26.35 billion, a price-to-earnings ratio of 35.24 and a beta of 1.06. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $247.01. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

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 quarter last year, the business earned $0.92 earnings per share. On average, equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

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

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.