Vinva Investment Management Ltd Lowers Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Vinva Investment Management Ltd lessened its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 58.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,841 shares of the business services provider’s stock after selling 3,930 shares during the period. Vinva Investment Management Ltd’s holdings in Broadridge Financial Solutions were worth $641,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Qsemble Capital Management LP purchased a new stake in Broadridge Financial Solutions in the 3rd quarter worth approximately $1,412,000. Horizon Kinetics Asset Management LLC purchased a new position in shares of Broadridge Financial Solutions during the 3rd quarter valued at approximately $483,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Broadridge Financial Solutions by 53.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock valued at $2,434,000 after buying an additional 3,753 shares in the last quarter. Miracle Mile Advisors LLC lifted its position in shares of Broadridge Financial Solutions by 98.0% during the 4th quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider’s stock valued at $550,000 after buying an additional 1,204 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its position in shares of Broadridge Financial Solutions by 121.3% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 11,561 shares of the business services provider’s stock valued at $2,486,000 after buying an additional 6,336 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BR. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. DA Davidson reiterated a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Royal Bank of Canada increased their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Morgan Stanley increased their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. increased their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Broadridge Financial Solutions has a consensus rating of “Hold” and an average price target of $239.17.

Broadridge Financial Solutions Stock Down 0.3 %

Shares of BR opened at $233.03 on Friday. Broadridge Financial Solutions, Inc. has a 52-week low of $188.30 and a 52-week high of $246.58. The company has a market capitalization of $27.27 billion, a PE ratio of 36.47 and a beta of 1.05. The stock has a fifty day simple moving average of $236.05 and a two-hundred day simple moving average of $226.62. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same quarter in the prior year, the business posted $0.92 earnings per share. As a group, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is 55.09%.

Insider Buying and Selling

In related news, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $235.43, for a total value of $22,590,921.08. Following the sale, the chief executive officer now directly owns 169,788 shares in the company, valued at $39,973,188.84. The trade was a 36.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert N. Duelks sold 485 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $237.93, for a total value of $115,396.05. Following the sale, the director now owns 4,960 shares in the company, valued at approximately $1,180,132.80. The trade was a 8.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 124,754 shares of company stock valued at $29,397,793. 1.30% of the stock is currently owned by 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.