Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Forza Wealth Management LLC

Forza Wealth Management LLC reduced its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 10.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,600 shares of the business services provider’s stock after selling 300 shares during the period. Forza Wealth Management LLC’s holdings in Broadridge Financial Solutions were worth $588,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BR. State Street Corp lifted its holdings in Broadridge Financial Solutions by 1.0% in the third quarter. State Street Corp now owns 5,181,715 shares of the business services provider’s stock worth $1,118,644,000 after acquiring an additional 51,439 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Broadridge Financial Solutions by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider’s stock worth $643,018,000 after acquiring an additional 15,208 shares during the last quarter. Stifel Financial Corp lifted its holdings in Broadridge Financial Solutions by 0.4% in the third quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider’s stock worth $342,856,000 after acquiring an additional 5,813 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Broadridge Financial Solutions by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock valued at $185,417,000 after buying an additional 72,018 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Broadridge Financial Solutions by 2.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider’s stock valued at $194,585,000 after buying an additional 20,775 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BR. UBS Group began coverage on Broadridge Financial Solutions in a report on Thursday, November 21st. They set a “neutral” rating and a $250.00 price target on the stock. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. DA Davidson lifted their price target on Broadridge Financial Solutions from $210.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Finally, Morgan Stanley raised their price objective on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $226.71.

Broadridge Financial Solutions Stock Up 1.1 %

Shares of NYSE:BR traded up $2.51 during trading on Monday, reaching $223.97. 141,736 shares of the company traded hands, compared to its average volume of 540,472. The firm has a fifty day simple moving average of $228.47 and a 200 day simple moving average of $216.96. The firm has a market cap of $26.18 billion, a P/E ratio of 38.75 and a beta of 1.08. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $237.96. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.63.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the business posted $1.09 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. Analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 13th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Friday, December 13th. Broadridge Financial Solutions’s payout ratio is presently 60.90%.

Insider Activity at Broadridge Financial Solutions

In other news, insider Douglas Richard Deschutter sold 24,185 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the transaction, the insider now owns 27,137 shares in the company, valued at approximately $5,975,838.77. The trade was a 47.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Maura A. Markus sold 3,880 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the transaction, the director now owns 27,788 shares in the company, valued at approximately $6,308,431.76. The trade was a 12.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,532 shares of company stock valued at $12,264,846. Insiders own 1.30% of the company’s stock.

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.