WBI Investments LLC Sells 1,598 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

WBI Investments LLC trimmed its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 18.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,862 shares of the business services provider's stock after selling 1,598 shares during the period. WBI Investments LLC's holdings in Broadridge Financial Solutions were worth $1,551,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Adero Partners LLC grew its position in shares of Broadridge Financial Solutions by 2.5% in the fourth quarter. Adero Partners LLC now owns 1,837 shares of the business services provider's stock valued at $415,000 after purchasing an additional 45 shares during the last quarter. Sunburst Financial Group LLC lifted its stake in shares of Broadridge Financial Solutions by 4.8% in the 4th quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider's stock valued at $229,000 after acquiring an additional 46 shares during the last quarter. Nicolet Advisory Services LLC raised its position in shares of Broadridge Financial Solutions by 4.8% during the fourth quarter. Nicolet Advisory Services LLC now owns 1,010 shares of the business services provider's stock worth $224,000 after acquiring an additional 46 shares during the last quarter. Advisors Capital Management LLC raised its position 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 worth $326,000 after acquiring an additional 49 shares during the last quarter. Finally, Foundations Investment Advisors LLC raised its position in shares of Broadridge Financial Solutions by 3.5% during the fourth quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider's stock worth $345,000 after acquiring an additional 52 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Royal Bank of Canada reissued an "outperform" rating and issued a $259.00 price objective on shares of Broadridge Financial Solutions in a research note on Monday. JPMorgan Chase & Co. boosted their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Morgan Stanley increased 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. 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, UBS Group increased 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. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $250.83.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 22,357 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $235.23, for a total value of $5,259,037.11. Following the completion of the sale, the president now owns 52,524 shares in the company, valued at approximately $12,355,220.52. The trade was a 29.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Hope M. Jarkowski sold 1,068 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total value of $251,214.96. Following the completion of the sale, the insider now owns 1,070 shares of the company's stock, valued at $251,685.40. The trade was a 49.95% 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 over the last 90 days. Company insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Price Performance

NYSE:BR traded down $1.22 on Thursday, reaching $237.87. 394,659 shares of the company's stock traded hands, compared to its average volume of 530,877. Broadridge Financial Solutions, Inc. has a 12 month low of $192.68 and a 12 month high of $247.01. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock has a 50-day simple moving average of $235.14 and a 200-day simple moving average of $233.23. The firm has a market cap of $27.94 billion, a PE ratio of 37.23 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its earnings results 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 return on equity of 44.40% and a net margin of 11.36%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the business earned $2.23 earnings per share. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th will be given a dividend of $0.88 per share. The ex-dividend date is Thursday, June 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.48%. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 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.