Tidal Investments LLC Reduces Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Tidal Investments LLC lowered its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 9.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 13,852 shares of the business services provider's stock after selling 1,448 shares during the quarter. Tidal Investments LLC's holdings in Broadridge Financial Solutions were worth $3,132,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Broadridge Financial Solutions by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 14,294,766 shares of the business services provider's stock worth $3,231,904,000 after acquiring an additional 74,674 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in 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 worth $804,952,000 after acquiring an additional 1,186,555 shares during the last quarter. Geode Capital Management LLC increased its holdings in Broadridge Financial Solutions by 1.2% in 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 acquiring an additional 37,141 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings 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 worth $378,175,000 after acquiring an additional 43,533 shares during the last quarter. Finally, Barclays PLC increased its holdings in Broadridge Financial Solutions by 2.5% in the 4th quarter. Barclays PLC now owns 1,648,527 shares of the business services provider's stock worth $372,713,000 after acquiring an additional 40,506 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR traded up $1.89 during midday trading on Tuesday, hitting $238.86. 82,686 shares of the company's stock were exchanged, compared to its average volume of 538,142. Broadridge Financial Solutions, Inc. has a 12-month low of $192.68 and a 12-month high of $247.01. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The company has a market cap of $28.06 billion, a price-to-earnings ratio of 37.38 and a beta of 0.98. The business's fifty day moving average price is $235.44 and its two-hundred day moving average price is $233.83.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, topping the consensus estimate of $2.41 by $0.03. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. Broadridge Financial Solutions's revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.23 earnings per share. As a group, research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BR. Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. UBS Group lifted their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. lifted their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Needham & Company LLC began coverage on Broadridge Financial Solutions in a report on Tuesday, May 6th. They set a "buy" rating and a $300.00 target price for the company. Finally, Morgan Stanley lifted their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a report on Monday, February 3rd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Broadridge Financial Solutions has a consensus rating of "Hold" and an average target price of $250.83.

Insider Buying and Selling

In other Broadridge Financial Solutions news, Director Pamela L. Carter sold 4,829 shares of the business'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 value of $1,169,728.67. Following the completion of the sale, the director now owns 7,242 shares in the company, valued at approximately $1,754,229.66. The trade was a 40.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Thomas P. Carey sold 3,607 shares of the business's stock in a transaction that occurred 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. The trade was a 37.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 128,302 shares of company stock worth $30,242,095 in the last quarter. 1.30% of the stock is owned by 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.