Ninety One UK Ltd Has $66.18 Million Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Ninety One UK Ltd lessened its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 5.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 272,937 shares of the business services provider's stock after selling 14,262 shares during the quarter. Ninety One UK Ltd owned about 0.23% of Broadridge Financial Solutions worth $66,176,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in BR. Nicolet Advisory Services LLC raised its position in shares of Broadridge Financial Solutions by 4.8% in the 4th quarter. Nicolet Advisory Services LLC now owns 1,010 shares of the business services provider's stock worth $224,000 after buying an additional 46 shares during the period. Continuum Advisory LLC grew its stake in shares of Broadridge Financial Solutions by 48.4% during the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider's stock valued at $34,000 after acquiring an additional 46 shares in the last quarter. Crew Capital Management Ltd. grew its stake in shares of Broadridge Financial Solutions by 2.4% during the first quarter. Crew Capital Management Ltd. now owns 2,020 shares of the business services provider's stock valued at $490,000 after acquiring an additional 48 shares in the last quarter. Advisors Capital Management LLC grew its stake in shares of Broadridge Financial Solutions by 3.5% during the fourth quarter. Advisors Capital Management LLC now owns 1,440 shares of the business services provider's stock valued at $326,000 after acquiring an additional 49 shares in the last quarter. Finally, TCTC Holdings LLC grew its stake in Broadridge Financial Solutions by 0.9% in the fourth quarter. TCTC Holdings LLC now owns 5,979 shares of the business services provider's stock worth $1,352,000 after purchasing an additional 52 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company's stock.

Analyst Ratings Changes

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

Broadridge Financial Solutions Price Performance

Shares of NYSE BR traded down $3.69 during trading on Friday, hitting $234.90. The company had a trading volume of 639,405 shares, compared to its average volume of 528,364. Broadridge Financial Solutions, Inc. has a 52 week low of $200.63 and a 52 week high of $247.01. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market cap of $27.59 billion, a P/E ratio of 35.32 and a beta of 0.94. The business's 50-day moving average is $239.64 and its 200 day moving average is $236.08.

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 for the quarter, topping 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 firm had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same period in the previous year, the company posted $2.23 EPS. The company's quarterly revenue was up 5.0% compared to the same quarter last year. Equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio is currently 52.93%.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 3,607 shares of Broadridge Financial Solutions 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 owned 6,077 shares of the company's stock, valued at approximately $1,441,829.02. The trade was a 37.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Hope M. Jarkowski sold 1,068 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total transaction of $251,214.96. Following the transaction, the insider directly owned 1,070 shares of the company's stock, valued at approximately $251,685.40. This represents a 49.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,116 shares of company stock worth $4,352,298 over the last 90 days. 1.30% of the stock is currently owned by insiders.

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.