Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lowered its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 19,299 shares of the business services provider’s stock after selling 815 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Broadridge Financial Solutions were worth $4,363,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. True Wealth Design LLC raised its position in Broadridge Financial Solutions by 2,028.6% during the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after acquiring an additional 142 shares during the last quarter. Fortitude Family Office LLC raised its position 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 worth $35,000 after acquiring an additional 111 shares during the last quarter. FSA Wealth Management LLC acquired a new position in Broadridge Financial Solutions during the third quarter worth about $39,000. Global X Japan Co. Ltd. acquired a new position in Broadridge Financial Solutions during the fourth quarter worth about $41,000. Finally, Truvestments Capital LLC acquired a new position in shares of Broadridge Financial Solutions in the third quarter valued at approximately $45,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock opened at $224.73 on Thursday. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $246.58. The firm has a 50 day moving average price of $235.46 and a 200 day moving average price of $225.77. The company has a market cap of $26.30 billion, a price-to-earnings ratio of 35.17 and a beta of 1.05. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same period in the prior year, the business earned $0.92 earnings per share. Sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be issued a $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.57%. Broadridge Financial Solutions’s payout ratio is 55.09%.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the sale, the chief executive officer now directly owns 169,788 shares in the company, valued at $39,973,188.84. The trade was a 36.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 transaction of $124,182.40. Following the sale, the vice president now owns 6,602 shares of the company’s stock, valued at approximately $1,595,043.20. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 124,754 shares of company stock worth $29,397,793 over the last ninety days. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

BR has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. DA Davidson reissued a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price objective on shares of 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 boosted their price objective on shares of 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. Finally, StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $239.17.

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.