Broadridge Financial Solutions, Inc. (NYSE:BR) Holdings Decreased by USS Investment Management Ltd

USS Investment Management Ltd reduced its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 17.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,492 shares of the business services provider's stock after selling 4,213 shares during the quarter. USS Investment Management Ltd's holdings in Broadridge Financial Solutions were worth $4,409,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in 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. Norges Bank bought a new stake in Broadridge Financial Solutions in the fourth quarter worth about $106,904,000. Raymond James Financial Inc. bought a new stake in Broadridge Financial Solutions in the fourth quarter worth about $104,466,000. Corient Private Wealth LLC raised its position in Broadridge Financial Solutions by 882.9% in the fourth quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider's stock worth $99,186,000 after acquiring an additional 392,695 shares in the last quarter. Finally, Northern Trust Corp raised its position in Broadridge Financial Solutions by 24.4% in the fourth quarter. Northern Trust Corp now owns 1,604,783 shares of the business services provider's stock worth $362,825,000 after acquiring an additional 314,323 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on BR shares. JPMorgan Chase & Co. lifted their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Needham & Company LLC started coverage on Broadridge Financial Solutions in a research note on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price target on the stock. Morgan Stanley lifted their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an "equal weight" rating in a research note on Monday, February 3rd. UBS Group lifted their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Finally, Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. 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, the company has an average rating of "Hold" and an average target price of $250.83.

Broadridge Financial Solutions Trading Down 0.5%

NYSE:BR opened at $237.87 on Friday. 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 fifty-two week low of $192.68 and a fifty-two week high of $247.01. The stock's 50-day moving average is $235.28 and its two-hundred day moving average is $233.43. The stock has a market cap of $27.94 billion, a PE ratio of 37.23 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, beating the consensus estimate 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 business posted $2.23 EPS. The business's revenue for the quarter was up 5.0% on a year-over-year basis. As a group, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share 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. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $3.52 annualized dividend and a yield of 1.48%. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 52.93%.

Insider Activity

In other news, insider Hope M. Jarkowski sold 1,068 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total transaction 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. The trade was a 49.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Christopher John Perry sold 22,357 shares of Broadridge Financial Solutions stock in a transaction dated 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 sale, the president now owns 52,524 shares of the company's stock, valued at approximately $12,355,220.52. This represents a 29.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 128,302 shares of company stock worth $30,242,095 in the last three months. 1.30% of the stock is owned by insiders.

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.

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