Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by KBC Group NV

KBC Group NV cut its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 10.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,249 shares of the business services provider's stock after selling 2,244 shares during the quarter. KBC Group NV's holdings in Broadridge Financial Solutions were worth $4,910,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BR. Price T Rowe Associates Inc. MD increased its position in Broadridge Financial Solutions by 50.0% during 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 purchasing an additional 1,186,555 shares during the last quarter. GAMMA Investing LLC boosted its holdings in 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 valued at $240,027,000 after purchasing an additional 986,782 shares during the last quarter. Norges Bank acquired a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth approximately $106,904,000. Raymond James Financial Inc. acquired a new position in Broadridge Financial Solutions during the 4th quarter worth $104,466,000. Finally, Corient Private Wealth LLC grew its stake 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 purchasing an additional 392,695 shares in the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Broadridge Financial Solutions

In related news, 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 value of $1,211,164.80. Following the completion of the sale, the insider owned 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas P. Carey sold 3,607 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total value of $855,796.82. Following the completion of the transaction, the vice president directly owned 6,077 shares in the company, valued at $1,441,829.02. The trade was a 37.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,116 shares of company stock valued at $4,352,298. Insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. 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 began coverage on Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price target for the company. 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 note 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $250.83.

Broadridge Financial Solutions Trading Down 2.6%

Shares of BR opened at $238.35 on Thursday. The business's 50-day moving average price is $239.29 and its 200 day moving average price is $235.48. The stock has a market capitalization of $28.00 billion, a P/E ratio of 35.84 and a beta of 0.94. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.44. Broadridge Financial Solutions, Inc. has a 1-year low of $198.18 and a 1-year high of $247.01.

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 for the quarter, beating analysts' consensus estimates of $2.41 by $0.03. The business had revenue of $1.81 billion for 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%. Broadridge Financial Solutions's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.23 earnings per share. Analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

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

About Broadridge Financial Solutions

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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