Bessemer Group Inc. Reduces Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Bessemer Group Inc. decreased its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 52.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,467 shares of the business services provider's stock after selling 3,855 shares during the period. Bessemer Group Inc.'s holdings in Broadridge Financial Solutions were worth $840,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its holdings 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 worth $804,952,000 after acquiring an additional 1,186,555 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Broadridge Financial Solutions by 31,011.4% in the first quarter. GAMMA Investing LLC now owns 989,964 shares of the business services provider's stock worth $240,027,000 after purchasing an additional 986,782 shares in the last quarter. Norges Bank purchased a new position in shares of Broadridge Financial Solutions in the fourth quarter worth about $106,904,000. Raymond James Financial Inc. purchased a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at approximately $104,466,000. Finally, Corient Private Wealth LLC boosted 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 worth $99,186,000 after buying an additional 392,695 shares during the period. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Price Performance

NYSE:BR traded up $4.11 during trading hours on Friday, hitting $242.13. 321,244 shares of the company's stock traded hands, compared to its average volume of 527,511. Broadridge Financial Solutions, Inc. has a 52 week low of $198.71 and a 52 week high of $247.01. The business's fifty day simple moving average is $239.46 and its two-hundred day simple moving average is $235.63. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.44. The firm has a market cap of $28.44 billion, a P/E ratio of 36.41 and a beta of 0.94.

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

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio is currently 52.93%.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, Director Pamela L. Carter sold 4,829 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $242.23, for a total transaction of $1,169,728.67. Following the completion of the sale, the director owned 7,242 shares of the company's stock, valued at $1,754,229.66. The trade was a 40.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Douglas Richard Deschutter sold 5,056 shares of Broadridge Financial Solutions stock in a transaction that occurred on 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 transaction, the insider directly owned 21,167 shares in the company, valued at $5,070,554.85. This trade represents a 19.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,116 shares of company stock valued at $4,352,298 over the last quarter. Insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BR shares. Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Needham & Company LLC assumed coverage on Broadridge Financial Solutions in a research report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price target for the company. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $259.00 price objective on shares of Broadridge Financial Solutions in a report on Monday, May 19th. 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 an average rating of "Hold" and a consensus price target of $250.83.

Broadridge Financial Solutions Company 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.