Quadrant Capital Group LLC Decreases Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Quadrant Capital Group LLC reduced its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,617 shares of the business services provider’s stock after selling 89 shares during the period. Quadrant Capital Group LLC’s holdings in Broadridge Financial Solutions were worth $744,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Nordea Investment Management AB lifted its holdings in Broadridge Financial Solutions by 680.1% in the 4th quarter. Nordea Investment Management AB now owns 85,325 shares of the business services provider’s stock worth $17,584,000 after buying an additional 74,387 shares during the period. International Assets Investment Management LLC bought a new stake in Broadridge Financial Solutions in the fourth quarter valued at $227,750,000. Crown Oak Advisors LLC bought a new stake in Broadridge Financial Solutions in the fourth quarter valued at $7,032,000. Comerica Bank purchased a new position in Broadridge Financial Solutions during the 3rd quarter valued at $8,116,000. Finally, Cornercap Investment Counsel Inc. bought a new position in Broadridge Financial Solutions in the 4th quarter worth $1,089,000. 90.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BR has been the topic of several research analyst reports. Royal Bank of Canada boosted their price target on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Sunday, May 12th. DA Davidson reaffirmed a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th. Raymond James raised 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. Finally, Evercore ISI restated an “outperform” rating and set a $230.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $206.67.

Broadridge Financial Solutions Stock Down 0.3 %

Broadridge Financial Solutions stock traded down $0.53 during mid-day trading on Friday, hitting $203.50. The company had a trading volume of 244,636 shares, compared to its average volume of 498,231. Broadridge Financial Solutions, Inc. has a 12 month low of $144.54 and a 12 month high of $210.24. The company has a market capitalization of $24.05 billion, a PE ratio of 34.82 and a beta of 0.98. The stock’s 50 day moving average price is $199.48 and its two-hundred day moving average price is $196.63. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.05 EPS. As a group, sell-side analysts anticipate 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 declared 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 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 54.61%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 830 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $201.58, for a total transaction of $167,311.40. Following the sale, the director now directly owns 5,445 shares in the company, valued at approximately $1,097,603.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Thomas P. Carey sold 12,731 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the completion of the transaction, the vice president now directly owns 13,303 shares of the company’s stock, valued at $2,674,169.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert N. Duelks sold 830 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $201.58, for a total transaction of $167,311.40. Following the transaction, the director now owns 5,445 shares in the company, valued at approximately $1,097,603.10. The disclosure for this sale can be found here. Insiders sold a total of 25,761 shares of company stock worth $5,223,959 in the last three months. Insiders own 1.60% of the company’s stock.

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.