Broadridge Financial Solutions, Inc. (NYSE:BR) Stake Trimmed by HighTower Advisors LLC

HighTower Advisors LLC lowered its stake in Broadridge Financial Solutions, Inc. (NYSE:BR – Get Rating) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,421 shares of the business services provider’s stock after selling 356 shares during the quarter. HighTower Advisors LLC’s holdings in Broadridge Financial Solutions were worth $2,201,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Broadridge Financial Solutions by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 14,043,423 shares of the business services provider’s stock valued at $2,026,747,000 after acquiring an additional 131,997 shares in the last quarter. BlackRock Inc. grew its stake in Broadridge Financial Solutions by 0.7% during the 3rd quarter. BlackRock Inc. now owns 9,830,478 shares of the business services provider’s stock valued at $1,418,737,000 after acquiring an additional 64,035 shares in the last quarter. State Street Corp grew its stake in Broadridge Financial Solutions by 0.4% during the 3rd quarter. State Street Corp now owns 4,654,571 shares of the business services provider’s stock valued at $675,108,000 after acquiring an additional 19,303 shares in the last quarter. Jensen Investment Management Inc. grew its stake in Broadridge Financial Solutions by 6.0% during the 4th quarter. Jensen Investment Management Inc. now owns 1,820,083 shares of the business services provider’s stock valued at $244,128,000 after acquiring an additional 102,405 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in Broadridge Financial Solutions by 86.6% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,195,313 shares of the business services provider’s stock valued at $186,122,000 after acquiring an additional 554,807 shares in the last quarter. Hedge funds and other institutional investors own 86.45% of the company’s stock.

Broadridge Financial Solutions Trading Down 1.7 %

Shares of BR stock opened at $151.11 on Wednesday. Broadridge Financial Solutions, Inc. has a 12 month low of $131.35 and a 12 month high of $183.33. The company has a market cap of $17.83 billion, a PE ratio of 32.43 and a beta of 1.00. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 2.04. The business’s 50 day moving average is $145.69 and its two-hundred day moving average is $143.72.

Broadridge Financial Solutions (NYSE:BR – Get Rating) last posted its earnings results on Tuesday, May 2nd. The business services provider reported $2.05 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the business posted $1.93 EPS. Broadridge Financial Solutions’s revenue was up 7.3% compared to the same quarter last year. Equities analysts predict that Broadridge Financial Solutions, Inc. will post 6.91 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Investors of record on Thursday, June 15th will be paid a dividend of $0.725 per share. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $2.90 annualized dividend and a yield of 1.92%. Broadridge Financial Solutions’s payout ratio is 62.23%.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, VP Laura Matlin sold 4,052 shares of the company’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $153.73, for a total transaction of $622,913.96. Following the completion of the transaction, the vice president now directly owns 5,825 shares in the company, valued at approximately $895,477.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Broadridge Financial Solutions news, VP Laura Matlin sold 4,052 shares of the stock in a transaction on Friday, May 19th. The shares were sold at an average price of $153.73, for a total value of $622,913.96. Following the completion of the sale, the vice president now directly owns 5,825 shares of the company’s stock, valued at approximately $895,477.25. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Robert Schifellite sold 15,695 shares of the stock in a transaction on 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 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 disclosure for this sale can be found here. Insiders have sold 21,922 shares of company stock valued at $3,335,277 in the last 90 days. 1.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

BR has been the topic of several research analyst reports. StockNews.com assumed coverage on Broadridge Financial Solutions in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Raymond James lifted their target price on shares of Broadridge Financial Solutions from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. TheStreet upgraded shares of Broadridge Financial Solutions from a “c+” rating to a “b” rating in a research note on Thursday, February 2nd. Finally, Royal Bank of Canada began coverage on shares of Broadridge Financial Solutions in a research note on Monday, April 24th. They issued an “outperform” rating and a $169.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $161.40.

Broadridge Financial Solutions Company 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.