Nuveen Asset Management LLC Has $87.77 Million Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Nuveen Asset Management LLC cut its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 21.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 388,189 shares of the business services provider's stock after selling 106,457 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.33% of Broadridge Financial Solutions worth $87,766,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 3,607 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total transaction of $855,796.82. Following the completion of the transaction, the vice president now directly owns 6,077 shares in the company, valued at approximately $1,441,829.02. This trade represents a 37.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Pamela L. Carter sold 4,829 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $242.23, for a total transaction of $1,169,728.67. Following the completion of the sale, the director now directly owns 7,242 shares in the company, valued at $1,754,229.66. This represents a 40.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 128,302 shares of company stock valued at $30,242,095. 1.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Morgan Stanley boosted their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a research note on Monday, February 3rd. DA Davidson reaffirmed a "neutral" rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Needham & Company LLC initiated coverage on Broadridge Financial Solutions in a report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price target for the company. UBS Group lifted their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $259.00 price objective on shares of Broadridge Financial Solutions in a research note on Monday. Five investment 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 presently has a consensus rating of "Hold" and a consensus price target of $250.83.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock traded down $3.70 on Wednesday, reaching $238.98. 747,593 shares of the company traded hands, compared to its average volume of 531,944. Broadridge Financial Solutions, Inc. has a 52 week low of $192.68 and a 52 week high of $247.01. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market capitalization of $28.07 billion, a PE ratio of 37.40 and a beta of 0.98. The company has a 50 day moving average of $234.92 and a 200 day moving average of $233.19.

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, topping the consensus estimate of $2.41 by $0.03. The business had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.23 earnings per share. Equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

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

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.