Harbor Capital Advisors Inc. Has $1.17 Million Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Harbor Capital Advisors Inc. cut its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 49.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,842 shares of the business services provider's stock after selling 4,702 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Broadridge Financial Solutions were worth $1,174,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sunburst Financial Group LLC boosted its stake in shares of Broadridge Financial Solutions by 4.8% during the 4th quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider's stock worth $229,000 after acquiring an additional 46 shares in the last quarter. Nicolet Advisory Services LLC lifted its holdings in shares of Broadridge Financial Solutions by 4.8% during the fourth quarter. Nicolet Advisory Services LLC now owns 1,010 shares of the business services provider's stock valued at $224,000 after purchasing an additional 46 shares during the last quarter. Advisors Capital Management LLC lifted its holdings in shares of Broadridge Financial Solutions by 3.5% during the fourth quarter. Advisors Capital Management LLC now owns 1,440 shares of the business services provider's stock valued at $326,000 after purchasing an additional 49 shares during the last quarter. TCTC Holdings LLC boosted its position in shares of Broadridge Financial Solutions by 0.9% in the 4th quarter. TCTC Holdings LLC now owns 5,979 shares of the business services provider's stock valued at $1,352,000 after purchasing an additional 52 shares during the period. Finally, Mindset Wealth Management LLC increased its stake in Broadridge Financial Solutions by 2.8% in the 4th quarter. Mindset Wealth Management LLC now owns 1,971 shares of the business services provider's stock worth $446,000 after purchasing an additional 54 shares in the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Broadridge Financial Solutions

In other news, Director Maura A. Markus sold 3,556 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total transaction of $864,392.48. Following the transaction, the director now owns 30,892 shares in the company, valued at approximately $7,509,227.36. This trade represents a 10.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas Richard Deschutter sold 5,056 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, May 27th. The shares were 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 now directly owns 21,167 shares of the company's stock, valued at approximately $5,070,554.85. The trade was a 19.28% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,116 shares of company stock valued at $4,352,298. Insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Stock Down 1.2%

Shares of BR traded down $2.89 during trading hours on Friday, reaching $236.94. The company's stock had a trading volume of 368,038 shares, compared to its average volume of 523,510. The company has a 50 day moving average of $236.97 and a two-hundred day moving average of $235.04. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The firm has a market cap of $27.83 billion, a price-to-earnings ratio of 37.08 and a beta of 0.96. 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 released its quarterly earnings data 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 net margin of 11.36% and a return on equity of 44.40%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the business earned $2.23 EPS. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be issued 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 dividend yield of 1.49%. Broadridge Financial Solutions's dividend payout ratio is 52.93%.

Wall Street Analyst Weigh In

BR has been the topic of several recent analyst reports. Wall Street Zen upgraded Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Royal Bank of Canada restated an "outperform" rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Finally, Needham & Company LLC assumed coverage on shares of 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. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price 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.