Bank of America Corp DE Decreases Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Bank of America Corp DE cut its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 14.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 596,533 shares of the business services provider's stock after selling 97,074 shares during the quarter. Bank of America Corp DE owned about 0.51% of Broadridge Financial Solutions worth $134,870,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of BR. Vanguard Group Inc. lifted its holdings in Broadridge Financial Solutions by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 14,294,766 shares of the business services provider's stock worth $3,231,904,000 after buying an additional 74,674 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Broadridge Financial Solutions by 50.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider's stock worth $804,952,000 after acquiring an additional 1,186,555 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Broadridge Financial Solutions by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 3,037,015 shares of the business services provider's stock valued at $684,971,000 after purchasing an additional 37,141 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Broadridge Financial Solutions by 2.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,649,761 shares of the business services provider's stock valued at $378,175,000 after purchasing an additional 43,533 shares in the last quarter. Finally, Barclays PLC increased its holdings in Broadridge Financial Solutions by 2.5% during the 4th quarter. Barclays PLC now owns 1,648,527 shares of the business services provider's stock worth $372,713,000 after purchasing an additional 40,506 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company's stock.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,068 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total value of $251,214.96. Following the completion of the sale, the insider now directly owns 1,070 shares in the company, valued at $251,685.40. This represents a 49.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Christopher John Perry sold 22,357 shares of Broadridge Financial Solutions stock in a transaction on Friday, March 7th. The shares were sold at an average price of $235.23, for a total value of $5,259,037.11. Following the transaction, the president now owns 52,524 shares in the company, valued at approximately $12,355,220.52. This trade represents a 29.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 119,866 shares of company stock valued at $28,216,569. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. UBS Group raised their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. DA Davidson reissued a "neutral" rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Royal Bank of Canada increased their price target on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. StockNews.com upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday. Finally, JPMorgan Chase & Co. lifted 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, February 3rd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Broadridge Financial Solutions presently has a consensus rating of "Hold" and an average price target of $250.83.

Broadridge Financial Solutions Stock Up 0.4 %

BR stock opened at $236.92 on Friday. The stock has a market cap of $27.83 billion, a PE ratio of 37.08 and a beta of 0.98. The firm's 50-day simple moving average is $233.94 and its 200 day simple moving average is $231.78. Broadridge Financial Solutions, Inc. has a fifty-two week low of $192.68 and a fifty-two week high of $247.01. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter in the previous year, the company posted $2.23 earnings per share. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

About Broadridge Financial Solutions

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.

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