Principal Financial Group Inc. Sells 1,721 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Principal Financial Group Inc. decreased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR – Get Rating) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 160,040 shares of the business services provider’s stock after selling 1,721 shares during the period. Principal Financial Group Inc.’s holdings in Broadridge Financial Solutions were worth $21,466,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TD Asset Management Inc. raised its position in shares of Broadridge Financial Solutions by 470.9% during the third quarter. TD Asset Management Inc. now owns 784,831 shares of the business services provider’s stock valued at $115,292,000 after buying an additional 647,363 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in Broadridge Financial Solutions by 86.6% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,195,313 shares of the business services provider’s stock worth $186,122,000 after purchasing an additional 554,807 shares during the last quarter. Bahl & Gaynor Inc. increased its position in Broadridge Financial Solutions by 19.4% in the third quarter. Bahl & Gaynor Inc. now owns 1,035,250 shares of the business services provider’s stock worth $149,408,000 after purchasing an additional 168,251 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Broadridge Financial Solutions in the third quarter worth $20,277,000. Finally, Vanguard Group Inc. increased its position in Broadridge Financial Solutions by 0.9% in the third quarter. Vanguard Group Inc. now owns 14,043,423 shares of the business services provider’s stock worth $2,026,747,000 after purchasing an additional 131,997 shares during the last quarter. Institutional investors own 86.45% of the company’s stock.

Broadridge Financial Solutions Stock Down 0.6 %

Shares of BR opened at $153.27 on Monday. The firm has a market capitalization of $18.08 billion, a P/E ratio of 32.89 and a beta of 1.00. Broadridge Financial Solutions, Inc. has a 12-month low of $131.35 and a 12-month high of $183.33. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 2.04. The firm has a fifty day moving average price of $145.08 and a 200-day moving average price of $143.46.

Broadridge Financial Solutions (NYSE:BR – Get Rating) last released its quarterly earnings data on Tuesday, May 2nd. The business services provider reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.04. Broadridge Financial Solutions had a net margin of 9.33% and a return on equity of 40.29%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the firm earned $1.93 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities research analysts expect that Broadridge Financial Solutions, Inc. will post 6.91 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 6th. Investors of record on Thursday, June 15th will be paid a $0.725 dividend. This represents a $2.90 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Wednesday, June 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 62.23%.

Insider Buying and Selling

In related news, SVP Robert Schifellite sold 15,695 shares of the company’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $152.59, for a total value of $2,394,900.05. Following the completion of the sale, the senior vice president now directly owns 50,314 shares of the company’s stock, valued at $7,677,413.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Broadridge Financial Solutions news, VP Richard John Stingi sold 750 shares of the business’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $155.27, for a total value of $116,452.50. Following the completion of the transaction, the vice president now directly owns 4,202 shares in the company, valued at $652,444.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert Schifellite sold 15,695 shares of the company’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $152.59, for a total transaction of $2,394,900.05. Following the transaction, the senior vice president now owns 50,314 shares in the company, valued at approximately $7,677,413.26. The disclosure for this sale can be found here. Insiders sold a total of 17,870 shares of company stock valued at $2,712,363 over the last three months. 1.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BR has been the topic of several research reports. StockNews.com initiated coverage on shares of Broadridge Financial Solutions in a research report on Thursday. They issued a “hold” rating on the stock. Raymond James lifted their price objective on shares of Broadridge Financial Solutions from $180.00 to $183.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. Royal Bank of Canada initiated coverage on shares of Broadridge Financial Solutions in a research note on Monday, April 24th. They set an “outperform” rating and a $169.00 price objective for the company. Finally, TheStreet raised shares of Broadridge Financial Solutions from a “c+” rating to a “b” rating in a research note on Thursday, February 2nd. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $161.40.

Broadridge Financial Solutions Profile

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Broadridge Financial Solutions, Inc engages in the provision of investor communications and technology solutions to banks, broker-dealers, mutual funds, and corporate issuers. It operates through the following segments: Investor Communication Solutions and Global Technology and Operations. The Investor Communication Solutions segment offers services for broker-dealer investor communication, customer communication, corporate issuer, advisor solutions, and mutual fund and retirement solutions.