Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Courier Capital LLC

Courier Capital LLC lowered its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 11.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,139 shares of the business services provider’s stock after selling 150 shares during the quarter. Courier Capital LLC’s holdings in Broadridge Financial Solutions were worth $234,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB raised its stake in Broadridge Financial Solutions by 680.1% during the 4th quarter. Nordea Investment Management AB now owns 85,325 shares of the business services provider’s stock valued at $17,584,000 after acquiring an additional 74,387 shares in the last quarter. Comerica Bank bought a new stake in Broadridge Financial Solutions during the 3rd quarter valued at $8,116,000. Gotham Asset Management LLC raised its stake in Broadridge Financial Solutions by 176.1% during the 3rd quarter. Gotham Asset Management LLC now owns 21,357 shares of the business services provider’s stock valued at $3,824,000 after acquiring an additional 13,621 shares in the last quarter. Toronto Dominion Bank raised its stake in Broadridge Financial Solutions by 13.5% during the 3rd quarter. Toronto Dominion Bank now owns 59,407 shares of the business services provider’s stock valued at $10,637,000 after acquiring an additional 7,088 shares in the last quarter. Finally, Allred Capital Management LLC bought a new stake in Broadridge Financial Solutions during the 4th quarter valued at $213,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BR. Evercore ISI reaffirmed an “outperform” rating and set a $230.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday. Morgan Stanley boosted their price objective on Broadridge Financial Solutions from $175.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, December 8th. Royal Bank of Canada lifted their target price on Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Raymond James lifted their target price on Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Finally, StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $203.17.

Insider Activity

In other news, insider Douglas Richard Deschutter sold 22,722 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total value of $4,521,678.00. Following the sale, the insider now directly owns 44,680 shares in the company, valued at approximately $8,891,320. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Robert N. Duelks sold 830 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $201.58, for a total transaction of $167,311.40. Following the sale, the director now directly owns 5,445 shares in the company, valued at approximately $1,097,603.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Douglas Richard Deschutter sold 22,722 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total value of $4,521,678.00. Following the sale, the insider now owns 44,680 shares in the company, valued at $8,891,320. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,483 shares of company stock worth $9,745,637. Company insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Price Performance

NYSE BR opened at $203.88 on Thursday. The stock has a 50-day simple moving average of $201.90 and a 200 day simple moving average of $192.19. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a market capitalization of $24.01 billion, a PE ratio of 35.52 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a twelve month low of $139.35 and a twelve month high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.92 EPS for the quarter, beating the consensus estimate 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 return on equity of 41.12% and a net margin of 10.82%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 EPS. Research analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be paid a $0.80 dividend. The ex-dividend date is Thursday, March 14th. This represents a $3.20 annualized dividend and a dividend yield of 1.57%. Broadridge Financial Solutions’s dividend payout ratio is currently 55.75%.

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.