Broadridge Financial Solutions, Inc. (NYSE:BR) Holdings Lowered by Baird Financial Group Inc.

Baird Financial Group Inc. lessened its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 6.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 524,744 shares of the business services provider's stock after selling 38,807 shares during the period. Baird Financial Group Inc. owned about 0.45% of Broadridge Financial Solutions worth $118,639,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Adero Partners LLC raised its position in Broadridge Financial Solutions by 2.5% in the fourth quarter. Adero Partners LLC now owns 1,837 shares of the business services provider's stock valued at $415,000 after purchasing an additional 45 shares during the period. Sunburst Financial Group LLC raised its holdings in shares of Broadridge Financial Solutions by 4.8% during the 4th quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider's stock valued at $229,000 after buying an additional 46 shares during the period. Nicolet Advisory Services LLC lifted its position in Broadridge Financial Solutions by 4.8% during the 4th quarter. Nicolet Advisory Services LLC now owns 1,010 shares of the business services provider's stock worth $224,000 after acquiring an additional 46 shares in the last quarter. Advisors Capital Management LLC boosted its holdings in Broadridge Financial Solutions by 3.5% in the 4th quarter. Advisors Capital Management LLC now owns 1,440 shares of the business services provider's stock worth $326,000 after acquiring an additional 49 shares during the period. Finally, Foundations Investment Advisors LLC grew its position in Broadridge Financial Solutions by 3.5% in the fourth quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider's stock valued at $345,000 after acquiring an additional 52 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. StockNews.com downgraded shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Morgan Stanley lifted 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, February 3rd. Royal Bank of Canada raised their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. UBS Group upped their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Finally, DA Davidson reissued a "neutral" rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $250.83.

Broadridge Financial Solutions Stock Up 0.6 %

NYSE BR traded up $1.45 on Tuesday, hitting $233.63. 532,923 shares of the stock traded hands, compared to its average volume of 533,689. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock has a 50-day moving average of $234.32 and a 200 day moving average of $231.49. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $247.01. The company has a market capitalization of $27.34 billion, a P/E ratio of 36.56 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.03. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The firm had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same period last year, the business posted $2.23 earnings per share. The firm's revenue for the quarter was up 5.0% on a year-over-year basis. As a group, analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Insider Activity at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 95,956 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $235.43, for a total value of $22,590,921.08. Following the sale, the chief executive officer now directly owns 169,788 shares in the company, valued at $39,973,188.84. This trade represents a 36.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert N. Duelks sold 485 shares of Broadridge Financial Solutions stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $237.93, for a total value of $115,396.05. Following the sale, the director now directly owns 4,960 shares in the company, valued at $1,180,132.80. The trade was a 8.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 124,240 shares of company stock worth $29,273,611 in the last ninety days. 1.30% of the stock is 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.