Broadridge Financial Solutions, Inc. (NYSE:BR) Stock Position Decreased by Dearborn Partners LLC

Dearborn Partners LLC decreased its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 20.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 102,720 shares of the business services provider's stock after selling 26,665 shares during the quarter. Dearborn Partners LLC owned about 0.09% of Broadridge Financial Solutions worth $24,905,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at about $580,000. Sei Investments Co. increased its stake in shares of Broadridge Financial Solutions by 2.6% during the 4th quarter. Sei Investments Co. now owns 30,034 shares of the business services provider's stock valued at $6,790,000 after acquiring an additional 763 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Broadridge Financial Solutions by 17.5% during the 4th quarter. JPMorgan Chase & Co. now owns 497,751 shares of the business services provider's stock valued at $112,537,000 after acquiring an additional 74,039 shares during the last quarter. Norges Bank acquired a new stake in Broadridge Financial Solutions during the 4th quarter worth approximately $106,904,000. Finally, Pictet Asset Management Holding SA increased its position in Broadridge Financial Solutions by 8.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 79,599 shares of the business services provider's stock worth $17,997,000 after purchasing an additional 6,321 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company's stock.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 3,607 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $237.26, for a total transaction of $855,796.82. Following the completion of the transaction, the vice president owned 6,077 shares of the company's stock, valued at $1,441,829.02. This trade represents a 37.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Douglas Richard Deschutter sold 5,056 shares of the 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 transaction, the insider owned 21,167 shares of the company's stock, valued at $5,070,554.85. This trade represents a 19.28% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,116 shares of company stock valued at $4,352,298. Corporate insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BR shares. Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Royal Bank Of Canada reissued an "outperform" rating and set a $259.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. 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 price target for the company. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Broadridge Financial Solutions currently has a consensus rating of "Hold" and a consensus price target of $250.83.

Broadridge Financial Solutions Stock Performance

NYSE BR traded down $2.90 during trading hours on Friday, hitting $244.61. The company had a trading volume of 534,573 shares, compared to its average volume of 756,417. Broadridge Financial Solutions, Inc. has a fifty-two week low of $206.29 and a fifty-two week high of $257.65. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.44. The business has a fifty day simple moving average of $241.40 and a 200-day simple moving average of $237.85. The firm has a market cap of $28.73 billion, a P/E ratio of 36.78 and a beta of 0.94.

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 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the company earned $2.23 earnings per share. The company's quarterly revenue was up 5.0% compared to the same quarter last year. Equities analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $3.52 annualized dividend and a yield of 1.4%. Broadridge Financial Solutions's dividend payout ratio (DPR) is currently 52.93%.

Broadridge Financial Solutions 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.