KBC Group NV Sells 2,244 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

KBC Group NV decreased its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 10.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 20,249 shares of the business services provider's stock after selling 2,244 shares during the period. KBC Group NV's holdings in Broadridge Financial Solutions were worth $4,910,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in shares of Broadridge Financial Solutions in the first quarter worth $29,000. Whipplewood Advisors LLC lifted its stake in Broadridge Financial Solutions by 2,620.0% in the 1st quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock worth $33,000 after acquiring an additional 131 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new stake in Broadridge Financial Solutions in the 4th quarter worth about $34,000. Continuum Advisory LLC boosted its position in Broadridge Financial Solutions by 48.4% during the 1st quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock worth $34,000 after acquiring an additional 46 shares during the period. Finally, Gen Wealth Partners Inc purchased a new position in Broadridge Financial Solutions during the 4th quarter valued at about $36,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BR. Needham & Company LLC initiated coverage on shares of Broadridge Financial Solutions in a report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price target for the company. Royal Bank Of Canada reiterated an "outperform" rating and issued a $259.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Finally, Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $250.83.

Insider Buying and Selling

In other news, Director Pamela L. Carter sold 4,829 shares of the company's stock in a transaction that occurred on 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 transaction, the director directly owned 7,242 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas P. Carey sold 3,607 shares of the 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 sale, the vice president directly owned 6,077 shares of the company's stock, valued at $1,441,829.02. This represents a 37.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,116 shares of company stock valued at $4,352,298 in the last quarter. Insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Stock Up 1.7%

BR traded up $4.11 during midday trading on Friday, hitting $242.13. 321,244 shares of the company's stock traded hands, compared to its average volume of 528,083. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market cap of $28.44 billion, a PE ratio of 36.41 and a beta of 0.94. The stock's fifty day simple moving average is $239.46 and its 200-day simple moving average is $235.72. Broadridge Financial Solutions, Inc. has a one year low of $198.71 and a one year high of $247.01.

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

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th were issued a $0.88 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $3.52 annualized dividend and a yield of 1.45%. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 52.93%.

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.