Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 5.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,475 shares of the business services provider's stock after selling 3,348 shares during the quarter. Douglas Lane & Associates LLC owned 0.05% of Broadridge Financial Solutions worth $15,148,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Czech National Bank increased its holdings in Broadridge Financial Solutions by 6.0% during the first quarter. Czech National Bank now owns 26,877 shares of the business services provider's stock valued at $6,517,000 after buying an additional 1,533 shares during the period. Wallace Advisory Group LLC bought a new stake in Broadridge Financial Solutions during the 1st quarter valued at $209,000. Rhumbline Advisers boosted its position in Broadridge Financial Solutions by 7.0% during the 1st quarter. Rhumbline Advisers now owns 261,855 shares of the business services provider's stock valued at $63,489,000 after acquiring an additional 17,060 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in shares of Broadridge Financial Solutions by 48.2% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,629 shares of the business services provider's stock valued at $395,000 after acquiring an additional 530 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Broadridge Financial Solutions by 31,011.4% in the 1st quarter. GAMMA Investing LLC now owns 989,964 shares of the business services provider's stock worth $240,027,000 after acquiring an additional 986,782 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. JPMorgan Chase & Co. increased their price target on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $259.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Needham & Company LLC began coverage on shares of Broadridge Financial Solutions in a research note on Tuesday, May 6th. They set a "buy" rating and a $300.00 price objective for the company. Finally, UBS Group increased their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Broadridge Financial Solutions has an average rating of "Hold" and a consensus target price of $250.83.

Insider Transactions at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 22,357 shares of the stock in a transaction that occurred 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 transaction, the president now owns 52,524 shares in the company, valued at approximately $12,355,220.52. This represents a 29.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction that occurred 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 sale, the chief executive officer now owns 169,788 shares of the company's stock, valued at approximately $39,973,188.84. The trade was a 36.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 132,873 shares of company stock worth $31,337,863. Company insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Stock Up 0.7%

NYSE BR traded up $1.75 during trading on Tuesday, hitting $244.14. The company's stock had a trading volume of 525,789 shares, compared to its average volume of 524,233. Broadridge Financial Solutions, Inc. has a fifty-two week low of $192.68 and a fifty-two week high of $247.01. The company has a market cap of $28.68 billion, a PE ratio of 38.21 and a beta of 0.98. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The business's 50 day simple moving average is $235.97 and its 200-day simple moving average is $234.29.

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 EPS for the quarter, beating the consensus estimate of $2.41 by $0.03. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. Broadridge Financial Solutions's revenue was up 5.0% on a year-over-year basis. During the same period last year, the firm posted $2.23 EPS. On average, equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal 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. The ex-dividend date is Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.44%. Broadridge Financial Solutions's dividend payout ratio is currently 52.93%.

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.