Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Flputnam Investment Management Co.

Flputnam Investment Management Co. decreased its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,777 shares of the business services provider’s stock after selling 366 shares during the quarter. Flputnam Investment Management Co.’s holdings in Broadridge Financial Solutions were worth $3,115,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BR. Dynasty Wealth Management LLC raised its stake in shares of Broadridge Financial Solutions by 7.4% in the 4th quarter. Dynasty Wealth Management LLC now owns 6,795 shares of the business services provider’s stock valued at $1,536,000 after acquiring an additional 471 shares during the period. QRG Capital Management Inc. increased its holdings in Broadridge Financial Solutions by 5.3% in the 4th quarter. QRG Capital Management Inc. now owns 7,682 shares of the business services provider’s stock valued at $1,737,000 after purchasing an additional 389 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Broadridge Financial Solutions in the 4th quarter valued at approximately $25,773,000. Mn Services Vermogensbeheer B.V. raised its position in Broadridge Financial Solutions by 1.6% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 45,830 shares of the business services provider’s stock valued at $10,362,000 after purchasing an additional 700 shares during the period. Finally, New York Life Investment Management LLC lifted its stake in Broadridge Financial Solutions by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 17,404 shares of the business services provider’s stock worth $3,935,000 after purchasing an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Up 1.6 %

Shares of Broadridge Financial Solutions stock opened at $241.26 on Friday. Broadridge Financial Solutions, Inc. has a 52-week low of $188.30 and a 52-week high of $244.47. The company has a 50 day moving average of $233.85 and a 200 day moving average of $224.27. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $28.23 billion, a P/E ratio of 37.76 and a beta of 1.08.

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

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is 55.09%.

Insider Activity at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 15,710 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total value of $3,618,327.20. Following the completion of the sale, the vice president now directly owns 12,146 shares of the company’s stock, valued at $2,797,466.72. The trade was a 56.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert N. Duelks sold 485 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $237.93, for a total transaction of $115,396.05. Following the completion of the transaction, the director now owns 4,960 shares of the company’s stock, valued at $1,180,132.80. This represents a 8.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,151 shares of company stock valued at $5,166,162 over the last three months. 1.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.