Voloridge Investment Management LLC Sells 143,796 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Voloridge Investment Management LLC trimmed its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 85.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,209 shares of the business services provider's stock after selling 143,796 shares during the quarter. Voloridge Investment Management LLC's holdings in Broadridge Financial Solutions were worth $5,700,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Woodline Partners LP bought a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at about $2,092,000. Vident Advisory LLC increased its position in shares of Broadridge Financial Solutions by 9.9% during the 4th quarter. Vident Advisory LLC now owns 3,199 shares of the business services provider's stock valued at $723,000 after purchasing an additional 287 shares during the last quarter. Vivaldi Capital Management LP increased its position in shares of Broadridge Financial Solutions by 4.8% during the 4th quarter. Vivaldi Capital Management LP now owns 1,796 shares of the business services provider's stock valued at $430,000 after purchasing an additional 83 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of Broadridge Financial Solutions by 252.2% during the 4th quarter. Squarepoint Ops LLC now owns 11,070 shares of the business services provider's stock valued at $2,503,000 after purchasing an additional 7,927 shares during the last quarter. Finally, Texas Bank & Trust Co bought a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at about $249,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 95,956 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $235.43, for a total value of $22,590,921.08. Following the transaction, the chief executive officer now directly owns 169,788 shares in the company, valued at $39,973,188.84. The trade was a 36.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Pamela L. Carter sold 4,829 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $242.23, for a total value of $1,169,728.67. Following the completion of the transaction, the director now owns 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 132,873 shares of company stock worth $31,337,863. Corporate insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Stock Performance

Shares of BR traded up $2.39 during trading hours on Friday, hitting $242.11. The stock had a trading volume of 254,877 shares, compared to its average volume of 527,575. 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 12 month low of $192.68 and a 12 month high of $247.01. The firm has a market capitalization of $28.44 billion, a PE ratio of 37.88 and a beta of 0.98. The stock has a fifty day moving average price of $235.78 and a 200 day moving average price of $234.00.

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. The company 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 44.40% and a net margin of 11.36%. Broadridge Financial Solutions's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.23 earnings per share. Analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be given a dividend of $0.88 per share. The ex-dividend date is 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%.

Wall Street Analyst Weigh In

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

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.