Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Wendell David Associates Inc.

Wendell David Associates Inc. lowered its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 104,992 shares of the business services provider’s stock after selling 1,165 shares during the period. Broadridge Financial Solutions comprises about 2.3% of Wendell David Associates Inc.’s investment portfolio, making the stock its 11th biggest position. Wendell David Associates Inc.’s holdings in Broadridge Financial Solutions were worth $23,738,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of BR. Bogart Wealth LLC increased its holdings in Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after buying an additional 96 shares in the last quarter. True Wealth Design LLC grew its position in shares of Broadridge Financial Solutions by 2,028.6% during the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 142 shares during the period. Fortitude Family Office LLC grew its position in shares of Broadridge Financial Solutions by 246.7% during the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 111 shares during the period. Hazlett Burt & Watson Inc. purchased a new position in shares of Broadridge Financial Solutions in the 3rd quarter valued at about $38,000. Finally, FSA Wealth Management LLC acquired a new position in Broadridge Financial Solutions in the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

BR opened at $235.02 on Thursday. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $237.96. The firm has a market capitalization of $27.47 billion, a PE ratio of 40.66 and a beta of 1.08. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. The firm’s 50-day moving average price is $229.78 and its 200 day moving average price is $218.59.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the firm posted $1.09 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 13th were issued a dividend of $0.88 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.50%. Broadridge Financial Solutions’s dividend payout ratio is presently 60.90%.

Insider Activity

In related news, insider Douglas Richard Deschutter sold 24,185 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $220.21, for a total value of $5,325,778.85. Following the transaction, the insider now directly owns 27,137 shares in the company, valued at approximately $5,975,838.77. This represents a 47.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Maura A. Markus sold 3,880 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $227.02, for a total value of $880,837.60. Following the transaction, the director now owns 27,788 shares of the company’s stock, valued at approximately $6,308,431.76. This represents a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,532 shares of company stock valued at $12,264,846. 1.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

BR has been the topic of several research analyst reports. Morgan Stanley raised their price objective on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. DA Davidson reissued a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, UBS Group started coverage on shares of Broadridge Financial Solutions in a research note on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $226.71.

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.