Wendell David Associates Inc. Trims Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Wendell David Associates Inc. cut its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 102,414 shares of the business services provider's stock after selling 2,578 shares during the period. Broadridge Financial Solutions makes up 2.5% of Wendell David Associates Inc.'s investment portfolio, making the stock its 10th biggest holding. Wendell David Associates Inc. owned 0.09% of Broadridge Financial Solutions worth $24,831,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nicolet Advisory Services LLC increased its position in 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 worth $224,000 after buying an additional 46 shares in the last quarter. Advisors Capital Management LLC grew its position in shares of Broadridge Financial Solutions by 3.5% in 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 period. TCTC Holdings LLC grew its position in shares of Broadridge Financial Solutions by 0.9% in the fourth 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. Mindset Wealth Management LLC grew its position in shares of Broadridge Financial Solutions by 2.8% in the fourth quarter. Mindset Wealth Management LLC now owns 1,971 shares of the business services provider's stock valued at $446,000 after purchasing an additional 54 shares during the period. Finally, Horizon Kinetics Asset Management LLC grew its position in shares of Broadridge Financial Solutions by 2.6% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 2,307 shares of the business services provider's stock valued at $522,000 after purchasing an additional 59 shares during the period. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Down 0.5%

Shares of BR traded down $1.10 during midday trading on Wednesday, reaching $237.66. 487,845 shares of the company were exchanged, compared to its average volume of 524,650. The stock has a 50-day moving average price of $238.07 and a 200-day moving average price of $235.10. The company has a market cap of $27.92 billion, a price-to-earnings ratio of 35.74 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a 1-year low of $195.64 and a 1-year high of $247.01. 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 (NYSE:BR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, topping the consensus estimate of $2.41 by $0.03. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. The business had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter in the previous year, the firm posted $2.23 earnings per share. The company's revenue was up 5.0% compared to the same quarter last year. Research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio (DPR) is 52.93%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,556 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was 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 of the company's stock, valued at $7,509,227.36. This trade represents a 10.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Hope M. Jarkowski sold 1,068 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total value of $251,214.96. Following the transaction, the insider now directly owns 1,070 shares in the company, valued at approximately $251,685.40. This represents a 49.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,116 shares of company stock worth $4,352,298. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BR. Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Needham & Company LLC began coverage on Broadridge Financial Solutions in a research report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price objective for the company. Finally, 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. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Broadridge Financial Solutions currently has a consensus 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.