Sigma Planning Corp Trims Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Sigma Planning Corp decreased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 42.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,125 shares of the business services provider’s stock after selling 814 shares during the quarter. Sigma Planning Corp’s holdings in Broadridge Financial Solutions were worth $231,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in BR. OFI Invest Asset Management purchased a new position in shares of Broadridge Financial Solutions during the 3rd quarter worth $25,000. Headinvest LLC purchased a new position in Broadridge Financial Solutions during the third quarter valued at $32,000. BKM Wealth Management LLC bought a new stake in Broadridge Financial Solutions during the 4th quarter worth approximately $37,000. First Command Advisory Services Inc. bought a new position in shares of Broadridge Financial Solutions in the third quarter worth approximately $34,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth $39,000. 90.03% of the stock is currently owned by institutional investors.

Insider Transactions at Broadridge Financial Solutions

In other news, insider Douglas Richard Deschutter sold 12,200 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $204.71, for a total value of $2,497,462.00. Following the transaction, the insider now directly owns 32,480 shares in the company, valued at $6,648,980.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Douglas Richard Deschutter sold 12,200 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $204.71, for a total value of $2,497,462.00. Following the completion of the sale, the insider now directly owns 32,480 shares of the company’s stock, valued at $6,648,980.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert N. Duelks sold 830 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $201.58, for a total transaction of $167,311.40. Following the completion of the sale, the director now directly owns 5,445 shares of the company’s stock, valued at $1,097,603.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,483 shares of company stock worth $9,745,637. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Raymond James increased their target price on Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. DA Davidson reissued a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Evercore ISI restated an “outperform” rating and issued a $230.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Finally, StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Friday. Five equities research 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, Broadridge Financial Solutions has an average rating of “Hold” and an average target price of $206.67.

Broadridge Financial Solutions Trading Down 0.7 %

BR stock opened at $194.15 on Monday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.77. Broadridge Financial Solutions, Inc. has a twelve month low of $140.06 and a twelve month high of $210.24. The stock has a market capitalization of $22.87 billion, a price-to-earnings ratio of 33.82 and a beta of 0.99. The firm’s fifty day simple moving average is $200.54 and its two-hundred day simple moving average is $194.72.

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, topping analysts’ consensus estimates of $0.89 by $0.03. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 earnings per share. As a group, analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share 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 issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Thursday, March 14th. Broadridge Financial Solutions’s payout ratio is presently 55.75%.

Broadridge Financial Solutions Company 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.