Bank of New York Mellon Corp Decreases Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Bank of New York Mellon Corp trimmed its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 3.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 870,051 shares of the business services provider's stock after selling 26,667 shares during the period. Bank of New York Mellon Corp owned about 0.74% of Broadridge Financial Solutions worth $210,953,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Broadridge Financial Solutions by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 14,294,766 shares of the business services provider's stock valued at $3,231,904,000 after buying an additional 74,674 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position 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 valued at $804,952,000 after acquiring an additional 1,186,555 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of 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 acquiring an additional 37,141 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Broadridge Financial Solutions by 2.7% in the fourth 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 acquiring an additional 43,533 shares in the last quarter. Finally, Barclays PLC increased its position 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 in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Trading Down 1.3%

BR traded down $3.08 during midday trading on Tuesday, hitting $237.48. The company's stock had a trading volume of 377,263 shares, compared to its average volume of 526,911. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.44. The firm has a market cap of $27.89 billion, a P/E ratio of 35.71 and a beta of 0.94. The firm has a 50-day moving average price of $239.52 and a two-hundred day moving average price of $235.90. Broadridge Financial Solutions, Inc. has a 52-week low of $198.71 and a 52-week high of $247.01.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, beating the consensus estimate of $2.41 by $0.03. The company had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. The firm's revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.23 EPS. On average, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.48%. The ex-dividend date was Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio (DPR) is 52.93%.

Insider Buying and Selling

In other news, insider Douglas Richard Deschutter sold 5,056 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total transaction of $1,211,164.80. Following the completion of the sale, the insider owned 21,167 shares in the company, valued at approximately $5,070,554.85. The trade was a 19.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hope M. Jarkowski sold 1,068 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total value of $251,214.96. Following the sale, the insider owned 1,070 shares of the company's stock, valued at $251,685.40. The trade was a 49.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,116 shares of company stock worth $4,352,298 over the last ninety days. Insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Needham & Company LLC assumed coverage on Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price objective for the company. Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $259.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $250.83.

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.