Bleakley Financial Group LLC Decreases Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Bleakley Financial Group LLC cut its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 5.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 11,390 shares of the business services provider’s stock after selling 598 shares during the quarter. Bleakley Financial Group LLC’s holdings in Broadridge Financial Solutions were worth $2,575,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Bogart Wealth LLC boosted its stake in shares of 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 boosted its stake in shares of Broadridge Financial Solutions by 2,028.6% in the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after buying an additional 142 shares in the last quarter. Fortitude Family Office LLC boosted its stake in shares of Broadridge Financial Solutions by 246.7% in the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after buying an additional 111 shares in the last quarter. Hazlett Burt & Watson Inc. purchased a new stake in shares of Broadridge Financial Solutions in the third quarter valued at approximately $38,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Broadridge Financial Solutions in the third quarter valued at approximately $39,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Morgan Stanley boosted their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday. 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 boosted their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, JPMorgan Chase & Co. boosted their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research report on Monday. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $239.17.

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $239.87 on Friday. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $242.39. The stock has a market cap of $28.04 billion, a price-to-earnings ratio of 37.54 and a beta of 1.08. The business has a fifty day moving average of $231.63 and a 200-day moving average of $221.10. The company has a quick ratio of 1.39, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share 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 period in the previous year, the business earned $0.92 earnings per share. As a group, analysts predict that Broadridge Financial Solutions, Inc. will post 8.55 earnings per share 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 $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a yield of 1.47%. Broadridge Financial Solutions’s payout ratio is currently 55.09%.

Insider Activity at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 10,757 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $226.82, for a total value of $2,439,902.74. Following the completion of the transaction, the vice president now directly owns 12,689 shares in the company, valued at approximately $2,878,118.98. This represents a 45.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Laura Matlin sold 514 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the transaction, the vice president now owns 6,602 shares of the company’s stock, valued at $1,595,043.20. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,303 shares of company stock worth $8,371,507. 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.