Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Mattern Capital Management LLC

Mattern Capital Management LLC lowered its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 4.7% in the first 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 comprises 1.3% of Mattern Capital Management LLC's investment portfolio, making the stock its 17th biggest position. 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.

A number of other institutional investors and hedge funds have also modified their holdings of BR. Whipplewood Advisors LLC boosted its position in Broadridge Financial Solutions by 2,620.0% during the first quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock worth $33,000 after acquiring an additional 131 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new position in Broadridge Financial Solutions during the fourth quarter worth about $34,000. Continuum Advisory LLC boosted its position in Broadridge Financial Solutions by 48.4% during the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock worth $34,000 after acquiring an additional 46 shares during the last quarter. Gen Wealth Partners Inc acquired a new position in Broadridge Financial Solutions in the 4th quarter valued at about $36,000. Finally, Curio Wealth LLC acquired a new position in Broadridge Financial Solutions in the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 90.03% of the company's stock.

Insider Buying and Selling

In other Broadridge Financial Solutions news, Director Pamela L. Carter sold 4,829 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $242.23, for a total value of $1,169,728.67. Following the sale, the director now directly owns 7,242 shares of the company's stock, valued at approximately $1,754,229.66. This represents a 40.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Hope M. Jarkowski sold 1,068 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total transaction of $251,214.96. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,116 shares of company stock valued at $4,352,298 in the last ninety days. Company insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Trading Up 0.2%

NYSE BR traded up $0.42 on Friday, reaching $239.59. The stock had a trading volume of 527,705 shares, compared to its average volume of 525,744. 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 stock has a fifty day moving average price of $238.76 and a two-hundred day moving average price of $235.33. Broadridge Financial Solutions, Inc. has a 12-month low of $195.64 and a 12-month high of $247.01. The firm has a market capitalization of $28.14 billion, a price-to-earnings ratio of 36.03 and a beta of 0.96.

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 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 analysts' expectations of $1.86 billion. During the same period in the prior year, the firm earned $2.23 earnings per share. The firm's revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BR shares. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Needham & Company LLC started coverage on shares of Broadridge Financial Solutions in a report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 target price on the stock. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $259.00 target price on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $250.83.

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.