OLD National Bancorp IN Sells 345 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

OLD National Bancorp IN reduced its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 10.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,948 shares of the business services provider’s stock after selling 345 shares during the quarter. OLD National Bancorp IN’s holdings in Broadridge Financial Solutions were worth $607,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. AE Wealth Management LLC increased its stake in Broadridge Financial Solutions by 1.8% in the 3rd quarter. AE Wealth Management LLC now owns 7,436 shares of the business services provider’s stock worth $1,331,000 after buying an additional 130 shares in the last quarter. IFP Advisors Inc increased its stake in Broadridge Financial Solutions by 33.5% in the 3rd quarter. IFP Advisors Inc now owns 550 shares of the business services provider’s stock worth $98,000 after buying an additional 138 shares in the last quarter. DAVENPORT & Co LLC purchased a new stake in Broadridge Financial Solutions in the 3rd quarter worth $210,000. Caprock Group LLC increased its stake in Broadridge Financial Solutions by 37.7% in the 3rd quarter. Caprock Group LLC now owns 2,106 shares of the business services provider’s stock worth $379,000 after buying an additional 577 shares in the last quarter. Finally, Occidental Asset Management LLC increased its stake in Broadridge Financial Solutions by 1.2% in the 3rd quarter. Occidental Asset Management LLC now owns 15,233 shares of the business services provider’s stock worth $2,727,000 after buying an additional 175 shares in the last quarter. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Trading Down 0.4 %

BR opened at $195.08 on Thursday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.77. The firm has a market cap of $22.97 billion, a P/E ratio of 33.99 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a 12 month low of $139.52 and a 12 month high of $210.24. The stock has a 50-day moving average of $200.70 and a 200 day moving average of $194.45.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the firm posted $0.91 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. As a group, research analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio is presently 55.75%.

Insider Activity

In other news, VP Thomas P. Carey sold 12,731 shares of Broadridge Financial Solutions stock in a transaction that occurred 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 completion of the sale, the vice president now owns 13,303 shares of the company’s stock, valued at $2,674,169.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 830 shares of Broadridge Financial Solutions stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $201.58, for a total value of $167,311.40. Following the transaction, the director now directly owns 5,445 shares of the company’s stock, valued at $1,097,603.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas P. Carey sold 12,731 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the completion of the transaction, the vice president now directly owns 13,303 shares in the company, valued at $2,674,169.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,483 shares of company stock valued at $9,745,637. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

BR has been the subject of a number of analyst reports. Evercore ISI reiterated an “outperform” rating and issued a $230.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. DA Davidson reiterated a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Royal Bank of Canada raised their price objective on Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Finally, Raymond James raised their price objective on Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadridge Financial Solutions has an average rating of “Moderate Buy” and a consensus price target of $206.67.

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.