Cresset Asset Management LLC Decreases Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Cresset Asset Management LLC decreased its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 66.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,771 shares of the business services provider's stock after selling 5,583 shares during the quarter. Cresset Asset Management LLC's holdings in Broadridge Financial Solutions were worth $629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Global X Japan Co. Ltd. purchased a new position in Broadridge Financial Solutions during the 4th quarter valued at $41,000. Curio Wealth LLC bought a new position in shares of Broadridge Financial Solutions in the 4th quarter worth $45,000. Salem Investment Counselors Inc. raised its position in shares of Broadridge Financial Solutions by 200.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 225 shares of the business services provider's stock worth $51,000 after acquiring an additional 150 shares in the last quarter. Promus Capital LLC bought a new position in shares of Broadridge Financial Solutions in the 4th quarter worth $52,000. Finally, Physician Wealth Advisors Inc. acquired a new position in Broadridge Financial Solutions during the 4th quarter valued at about $52,000. Hedge funds and other institutional investors own 90.03% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BR. 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. Royal Bank of Canada upped their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. StockNews.com raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Morgan Stanley upped their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a research report on Monday, February 3rd. Finally, DA Davidson reaffirmed a "neutral" rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $250.83.

Broadridge Financial Solutions Stock Performance

Shares of BR stock traded up $1.00 during mid-day trading on Friday, reaching $241.32. The stock had a trading volume of 475,637 shares, compared to its average volume of 532,008. The business's fifty day moving average is $234.22 and its 200-day moving average is $232.61. 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 firm has a market cap of $28.35 billion, a price-to-earnings ratio of 37.76 and a beta of 0.98. 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 quarterly earnings data 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. 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 was up 5.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.23 earnings per share. On average, research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Thursday, June 12th. Broadridge Financial Solutions's payout ratio is presently 52.93%.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, Director Robert N. Duelks sold 485 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $237.93, for a total value of $115,396.05. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas P. Carey sold 3,607 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total value of $855,796.82. Following the completion of the sale, the vice president now owns 6,077 shares of the company's stock, valued at $1,441,829.02. This trade represents a 37.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 123,473 shares of company stock valued at $29,072,366. 1.30% of the stock is owned by company 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.