Mattern Capital Management LLC Sells 2,094 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Mattern Capital Management LLC decreased its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 4.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,153 shares of the business services provider's stock after selling 2,094 shares during the period. Broadridge Financial Solutions makes up about 1.3% of Mattern Capital Management LLC's investment portfolio, making the stock its 17th largest holding. Mattern Capital Management LLC's holdings in Broadridge Financial Solutions were worth $10,220,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lecap Asset Management Ltd. bought a new position in shares of Broadridge Financial Solutions during the first quarter worth about $1,541,000. Legacy Advisors LLC boosted its position in Broadridge Financial Solutions by 3.8% during the 1st quarter. Legacy Advisors LLC now owns 10,598 shares of the business services provider's stock worth $2,579,000 after acquiring an additional 392 shares during the last quarter. AssuredPartners Investment Advisors LLC grew its stake in shares of Broadridge Financial Solutions by 5.7% during the 1st quarter. AssuredPartners Investment Advisors LLC now owns 2,173 shares of the business services provider's stock worth $527,000 after acquiring an additional 117 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Broadridge Financial Solutions by 3.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 53,528 shares of the business services provider's stock worth $12,978,000 after acquiring an additional 1,559 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised its holdings in shares of Broadridge Financial Solutions by 8.3% in the first quarter. GHP Investment Advisors Inc. now owns 51,093 shares of the business services provider's stock valued at $12,388,000 after purchasing an additional 3,925 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Maura A. Markus sold 3,556 shares of Broadridge Financial Solutions 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 completion of the sale, the director now directly owns 30,892 shares of the company's stock, valued at approximately $7,509,227.36. This trade represents a 10.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Thomas P. Carey sold 3,607 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total value of $855,796.82. Following the completion of the sale, the vice president now owns 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 disclosure for this sale can be found here. Insiders sold a total of 18,116 shares of company stock valued at $4,352,298 over the last ninety days. 1.30% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Stock Performance

Shares of BR traded up $1.33 during midday trading on Thursday, reaching $239.49. The stock had a trading volume of 395,473 shares, compared to its average volume of 525,367. The firm has a market cap of $28.13 billion, a PE ratio of 36.01 and a beta of 0.96. The firm has a 50 day simple moving average of $238.62 and a 200-day simple moving average of $235.27. Broadridge Financial Solutions, Inc. has a one year low of $195.64 and a one 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 issued its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Broadridge Financial Solutions's revenue was up 5.0% on a year-over-year basis. During the same period last year, the business posted $2.23 EPS. As a group, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Royal Bank Of Canada restated an "outperform" rating and set a $259.00 target price on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Needham & Company LLC initiated coverage on shares of Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Broadridge Financial Solutions has an average rating of "Hold" and a consensus target price 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.