Broadridge Financial Solutions, Inc. (NYSE:BR) Stake Lessened by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 19.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,938 shares of the business services provider’s stock after selling 12,188 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Broadridge Financial Solutions were worth $10,686,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Headinvest LLC bought a new position in Broadridge Financial Solutions during the third quarter worth $32,000. First Command Advisory Services Inc. bought a new position in Broadridge Financial Solutions in the third quarter worth about $34,000. Stuart Chaussee & Associates Inc. acquired a new position in Broadridge Financial Solutions in the fourth quarter valued at approximately $34,000. Manchester Capital Management LLC boosted its stake in Broadridge Financial Solutions by 57.1% in the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 60 shares during the period. Finally, Truvestments Capital LLC bought a new position in shares of Broadridge Financial Solutions during the third quarter valued at approximately $37,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on BR. Raymond James boosted 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. Royal Bank of Canada boosted 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. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Sunday, May 12th. Evercore ISI reiterated an “outperform” rating and set a $230.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Finally, DA Davidson restated a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $206.67.

Broadridge Financial Solutions Price Performance

NYSE BR opened at $203.96 on Thursday. The company has a 50 day moving average price of $199.37 and a two-hundred day moving average price of $197.59. Broadridge Financial Solutions, Inc. has a 12-month low of $144.54 and a 12-month high of $210.24. The stock has a market capitalization of $24.10 billion, a PE ratio of 34.81 and a beta of 0.98. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Wednesday, May 8th. The business services provider reported $2.23 EPS for the quarter, missing the consensus estimate of $2.24 by ($0.01). Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the business earned $2.05 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 54.61%.

Insider Buying and Selling

In other news, VP Thomas P. Carey sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.40, for a total transaction of $501,000.00. Following the sale, the vice president now directly owns 9,361 shares in the company, valued at $1,875,944.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Thomas P. Carey sold 2,500 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.40, for a total value of $501,000.00. Following the sale, the vice president now owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Thomas P. Carey sold 12,731 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total value of $2,559,185.62. Following the transaction, the vice president now owns 13,303 shares of the company’s stock, valued at $2,674,169.06. The disclosure for this sale can be found here. Insiders have sold a total of 28,261 shares of company stock valued at $5,724,959 over the last three months. 1.60% of the stock is owned by corporate insiders.

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.