Envestnet Portfolio Solutions Inc. Lowers Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Envestnet Portfolio Solutions Inc. lessened its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 52.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 10,452 shares of the business services provider's stock after selling 11,362 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Broadridge Financial Solutions were worth $2,534,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Broadridge Financial Solutions by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 14,294,766 shares of the business services provider's stock valued at $3,231,904,000 after purchasing an additional 74,674 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Broadridge Financial Solutions by 50.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider's stock worth $804,952,000 after buying an additional 1,186,555 shares in the last quarter. Geode Capital Management LLC raised its position in Broadridge Financial Solutions by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 3,037,015 shares of the business services provider's stock valued at $684,971,000 after buying an additional 37,141 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Broadridge Financial Solutions by 2.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,649,761 shares of the business services provider's stock valued at $378,175,000 after buying an additional 43,533 shares during the last quarter. Finally, Barclays PLC lifted its stake in Broadridge Financial Solutions by 2.5% during the 4th quarter. Barclays PLC now owns 1,648,527 shares of the business services provider's stock valued at $372,713,000 after acquiring an additional 40,506 shares in the last quarter. Institutional investors own 90.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Needham & Company LLC assumed coverage on shares of Broadridge Financial Solutions in a report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price objective on the stock. 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. 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 investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $250.83.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock traded up $1.33 during trading hours on Thursday, hitting $239.49. 395,473 shares of the company's stock traded hands, compared to its average volume of 525,367. The stock has a market capitalization of $28.13 billion, a price-to-earnings ratio of 36.01 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a 12-month low of $195.64 and a 12-month high of $247.01. 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 fifty day simple moving average of $238.69 and a 200-day simple moving average of $235.31.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.41 by $0.03. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.65% and a return on equity of 44.82%. The firm's quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.23 earnings per share. Equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio is currently 52.93%.

Insider Buying and Selling

In related news, insider Hope M. Jarkowski sold 1,068 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total value of $251,214.96. Following the completion of the transaction, the insider now directly owns 1,070 shares of the company's stock, valued at approximately $251,685.40. This trade represents a 49.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Pamela L. Carter sold 4,829 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $242.23, for a total transaction of $1,169,728.67. Following the sale, the director now directly owns 7,242 shares in the company, valued at $1,754,229.66. The trade was a 40.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,116 shares of company stock valued at $4,352,298. 1.30% of the stock is owned by insiders.

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.