Broadridge Financial Solutions, Inc. (NYSE:BR) Position Reduced by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP decreased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 79.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,235 shares of the business services provider's stock after selling 4,786 shares during the quarter. Brevan Howard Capital Management LP's holdings in Broadridge Financial Solutions were worth $279,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of BR. Price T Rowe Associates Inc. MD raised its stake in Broadridge Financial Solutions by 50.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider's stock valued at $804,952,000 after purchasing an additional 1,186,555 shares during the last quarter. Norges Bank acquired a new stake in Broadridge Financial Solutions during the fourth quarter worth approximately $106,904,000. Raymond James Financial Inc. purchased a new stake in Broadridge Financial Solutions in the 4th quarter worth approximately $104,466,000. Corient Private Wealth LLC raised its holdings in Broadridge Financial Solutions by 882.9% in the 4th quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider's stock valued at $99,186,000 after acquiring an additional 392,695 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Broadridge Financial Solutions by 24.4% during the 4th quarter. Northern Trust Corp now owns 1,604,783 shares of the business services provider's stock worth $362,825,000 after purchasing an additional 314,323 shares during the period. Institutional investors and hedge funds own 90.03% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on BR. StockNews.com upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Needham & Company LLC assumed coverage on shares of Broadridge Financial Solutions in a report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price objective on the stock. UBS Group raised their target price 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. JPMorgan Chase & Co. upped their price target on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Finally, DA Davidson reissued a "neutral" rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Broadridge Financial Solutions currently has an average rating of "Hold" and a consensus price target of $250.83.

Broadridge Financial Solutions Stock Up 1.2%

NYSE BR traded up $2.79 on Thursday, reaching $240.28. The company had a trading volume of 360,625 shares, compared to its average volume of 532,059. The firm has a market capitalization of $28.22 billion, a PE ratio of 37.60 and a beta of 0.98. The firm has a 50-day moving average of $233.76 and a 200-day moving average of $232.23. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. Broadridge Financial Solutions, Inc. has a 1 year low of $192.68 and a 1 year high of $247.01.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.41 by $0.03. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.23 earnings per share. On average, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio (DPR) is currently 52.93%.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the sale, the chief executive officer now owns 169,788 shares in the company, valued at $39,973,188.84. The trade was a 36.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Christopher John Perry sold 22,357 shares of the firm's 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 completion of the sale, the president now owns 52,524 shares in the company, valued at $12,355,220.52. The trade was 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 123,473 shares of company stock valued at $29,072,366. 1.30% of the stock is currently owned by corporate insiders.

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.