Cushing Capital Partners LLC Sells 3,425 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Cushing Capital Partners LLC lowered its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 77.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 986 shares of the business services provider's stock after selling 3,425 shares during the period. Cushing Capital Partners LLC's holdings in Broadridge Financial Solutions were worth $240,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Nicolet Advisory Services LLC increased its holdings in shares of Broadridge Financial Solutions by 4.8% in 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 during the period. Advisors Capital Management LLC increased its holdings 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 worth $326,000 after buying an additional 49 shares during the period. TCTC Holdings LLC increased its holdings 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 worth $1,352,000 after buying an additional 52 shares during the period. Mindset Wealth Management LLC increased its holdings 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 worth $446,000 after buying an additional 54 shares during the period. Finally, Horizon Kinetics Asset Management LLC increased its holdings 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 worth $522,000 after buying an additional 59 shares during the period. Institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Stock Down 0.5%

Broadridge Financial Solutions stock traded down $1.10 during trading hours on Thursday, hitting $237.66. 487,845 shares of the stock traded hands, compared to its average volume of 524,650. The firm's 50-day moving average price is $238.27 and its two-hundred day moving average price is $235.12. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.44. The company has a market cap of $27.92 billion, a PE ratio of 35.74 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a one year low of $195.64 and a one year high of $247.01.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted 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. The business had revenue of $1.81 billion for 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 revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.23 EPS. On average, research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders 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 1.48%. Broadridge Financial Solutions's payout ratio is 52.93%.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, insider Douglas Richard Deschutter sold 5,056 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $239.55, for a total value of $1,211,164.80. Following the sale, the insider now directly owns 21,167 shares of the company's stock, valued at $5,070,554.85. The trade was a 19.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Pamela L. Carter sold 4,829 shares of the business'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 value of $1,169,728.67. Following the completion of the sale, the director now directly owns 7,242 shares in the company, valued at approximately $1,754,229.66. This represents a 40.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,116 shares of company stock valued at $4,352,298. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BR has been the topic of a number of research 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 initiated coverage on Broadridge Financial Solutions in a report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price target on the stock. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $250.83.

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.