Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Morningstar Investment Services LLC

Morningstar Investment Services LLC trimmed its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 57.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,245 shares of the business services provider's stock after selling 2,972 shares during the quarter. Morningstar Investment Services LLC's holdings in Broadridge Financial Solutions were worth $544,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BR. Price T Rowe Associates Inc. MD raised its position in shares of Broadridge Financial Solutions by 50.0% during the 4th 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 purchasing an additional 1,186,555 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Broadridge Financial Solutions by 31,011.4% during the 1st quarter. GAMMA Investing LLC now owns 989,964 shares of the business services provider's stock worth $240,027,000 after purchasing an additional 986,782 shares during the last quarter. Norges Bank acquired a new stake in Broadridge Financial Solutions in the 4th quarter valued at about $106,904,000. Northern Trust Corp raised its holdings in Broadridge Financial Solutions by 24.4% in the 4th quarter. Northern Trust Corp now owns 1,604,783 shares of the business services provider's stock valued at $362,825,000 after acquiring an additional 314,323 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Broadridge Financial Solutions by 156.8% in the 1st quarter. Principal Financial Group Inc. now owns 404,830 shares of the business services provider's stock valued at $98,155,000 after acquiring an additional 247,157 shares during the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on BR. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Royal Bank Of Canada reissued an "outperform" rating and issued a $259.00 price target on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Finally, Needham & Company LLC assumed coverage on shares of Broadridge Financial Solutions in a report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Broadridge Financial Solutions has a consensus rating of "Hold" and a consensus price target of $250.83.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR traded up $1.53 on Tuesday, hitting $243.25. The company's stock had a trading volume of 269,571 shares, compared to its average volume of 525,485. Broadridge Financial Solutions, Inc. has a 12-month low of $201.67 and a 12-month high of $247.01. The company has a market capitalization of $28.57 billion, a price-to-earnings ratio of 36.57 and a beta of 0.94. 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 stock has a 50 day moving average of $239.76 and a 200-day moving average of $236.55.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings data 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. Broadridge Financial Solutions had a net margin of 11.65% and a return on equity of 44.82%. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the firm posted $2.23 earnings per share. The company's quarterly revenue was up 5.0% compared to the same quarter last year. As a group, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.45%. The ex-dividend date was Thursday, June 12th. Broadridge Financial Solutions's payout ratio is presently 52.93%.

Insider Buying and Selling

In other news, insider Douglas Richard Deschutter sold 5,056 shares of the 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 completion of the sale, the insider owned 21,167 shares of the company's stock, valued at approximately $5,070,554.85. This represents a 19.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Maura A. Markus sold 3,556 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total value of $864,392.48. Following the transaction, the director owned 30,892 shares in the company, valued at $7,509,227.36. The trade was a 10.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,116 shares of company stock valued at $4,352,298. 1.30% of the stock is owned by corporate 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.