Broadridge Financial Solutions, Inc. (NYSE:BR) Holdings Cut by WASHINGTON TRUST Co

WASHINGTON TRUST Co lowered its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,631 shares of the business services provider’s stock after selling 1,319 shares during the period. WASHINGTON TRUST Co’s holdings in Broadridge Financial Solutions were worth $13,298,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Broadridge Financial Solutions by 0.8% in the first quarter. Vanguard Group Inc. now owns 13,714,442 shares of the business services provider’s stock worth $2,135,476,000 after acquiring an additional 108,223 shares during the last quarter. Morgan Stanley increased its stake in shares of Broadridge Financial Solutions by 41.0% in the fourth quarter. Morgan Stanley now owns 7,043,656 shares of the business services provider’s stock valued at $944,766,000 after purchasing an additional 2,048,184 shares during the period. State Street Corp increased its stake in shares of Broadridge Financial Solutions by 0.3% in the second quarter. State Street Corp now owns 4,660,175 shares of the business services provider’s stock valued at $775,189,000 after purchasing an additional 11,728 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Broadridge Financial Solutions by 2.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,488,037 shares of the business services provider’s stock valued at $511,243,000 after purchasing an additional 96,566 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Broadridge Financial Solutions by 1.5% in the first quarter. Geode Capital Management LLC now owns 2,519,784 shares of the business services provider’s stock valued at $368,593,000 after purchasing an additional 37,989 shares during the period. Institutional investors own 90.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BR shares. Morgan Stanley raised their price target on shares of Broadridge Financial Solutions from $175.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, December 8th. Raymond James raised their price target on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Royal Bank of Canada raised their price target on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Evercore ISI reiterated an “outperform” rating and set a $230.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday. Finally, StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $203.17.

Insider Buying and Selling

In related news, VP Thomas P. Carey sold 12,731 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total value of $2,559,185.62. Following the completion of the transaction, the vice president now owns 13,303 shares of the company’s stock, valued at approximately $2,674,169.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Broadridge Financial Solutions news, President Christopher John Perry sold 5,069 shares of Broadridge Financial Solutions stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $205.32, for a total transaction of $1,040,767.08. Following the completion of the sale, the president now owns 59,651 shares of the company’s stock, valued at approximately $12,247,543.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas P. Carey sold 12,731 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the sale, the vice president now directly owns 13,303 shares of the company’s stock, valued at approximately $2,674,169.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,552 shares of company stock valued at $10,786,404. Company insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Price Performance

NYSE:BR traded up $0.46 during trading hours on Wednesday, reaching $202.17. 76,717 shares of the company’s stock were exchanged, compared to its average volume of 538,302. The company has a market capitalization of $23.81 billion, a P/E ratio of 35.14 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a 12 month low of $139.35 and a 12 month high of $210.24. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.77. The business’s 50-day simple moving average is $201.86 and its two-hundred day simple moving average is $192.11.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the firm posted $0.91 earnings per share. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Investors of record on Friday, March 15th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio is 55.75%.

About Broadridge Financial Solutions

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.