Broadridge Financial Solutions, Inc. (NYSE:BR) Stock Holdings Cut by Meridiem Investment Management Ltd.

Meridiem Investment Management Ltd. lessened its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,069,196 shares of the business services provider’s stock after selling 9,073 shares during the quarter. Broadridge Financial Solutions makes up approximately 4.3% of Meridiem Investment Management Ltd.’s investment portfolio, making the stock its 14th largest position. Meridiem Investment Management Ltd.’s holdings in Broadridge Financial Solutions were worth $241,825,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Pinnacle Wealth Management Advisory Group LLC acquired a new position in Broadridge Financial Solutions in the fourth quarter worth approximately $353,000. Allworth Financial LP boosted its stake in shares of Broadridge Financial Solutions by 4.8% during the 4th quarter. Allworth Financial LP now owns 1,377 shares of the business services provider’s stock worth $324,000 after acquiring an additional 63 shares in the last quarter. Principal Securities Inc. grew its holdings in shares of Broadridge Financial Solutions by 3.6% in the 4th quarter. Principal Securities Inc. now owns 6,566 shares of the business services provider’s stock worth $1,485,000 after acquiring an additional 228 shares during the last quarter. Congress Asset Management Co. raised its position in shares of Broadridge Financial Solutions by 1.9% during the fourth quarter. Congress Asset Management Co. now owns 83,799 shares of the business services provider’s stock worth $18,946,000 after purchasing an additional 1,579 shares during the period. Finally, Lord & Richards Wealth Management LLC acquired a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth $539,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Activity at Broadridge Financial Solutions

In related news, Director Brett Keller sold 5,442 shares of Broadridge Financial Solutions stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $240.40, for a total value of $1,308,256.80. Following the completion of the sale, the director now owns 15,536 shares of the company’s stock, valued at approximately $3,734,854.40. The trade was a 25.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas P. Carey sold 15,710 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the transaction, the vice president now directly owns 12,146 shares in the company, valued at $2,797,466.72. The trade was a 56.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,666 shares of company stock valued at $5,050,766. 1.30% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Stock Down 1.0 %

Broadridge Financial Solutions stock opened at $240.40 on Monday. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $244.47. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.39 and a current ratio of 1.35. The firm has a market cap of $28.13 billion, a PE ratio of 37.62 and a beta of 1.08. The firm’s 50 day moving average price is $232.49 and its two-hundred day moving average price is $222.64.

Broadridge Financial Solutions (NYSE:BR) last posted 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 net margin of 11.36% and a return on equity of 44.40%. During the same period in the prior year, the firm earned $0.92 EPS. On average, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BR. UBS Group lifted their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Royal Bank of Canada boosted their price target on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. raised their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of “Hold” and an average price target of $239.17.

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.