9,251 Shares in Broadridge Financial Solutions, Inc. (NYSE:BR) Bought by Woodline Partners LP

Woodline Partners LP bought a new position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 9,251 shares of the business services provider's stock, valued at approximately $2,092,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Curio Wealth LLC purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $45,000. Northstar Asset Management Inc. purchased a new stake in Broadridge Financial Solutions in the fourth quarter worth about $2,750,000. Pinnacle Wealth Management Advisory Group LLC purchased a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at approximately $353,000. Manning & Napier Advisors LLC bought a new position in Broadridge Financial Solutions during the 4th quarter valued at approximately $1,753,000. Finally, Congress Asset Management Co. boosted its holdings in Broadridge Financial Solutions by 1.9% in the fourth quarter. Congress Asset Management Co. now owns 83,799 shares of the business services provider's stock worth $18,946,000 after acquiring an additional 1,579 shares in the last quarter. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock traded down $0.95 during midday trading on Thursday, reaching $239.30. 248,102 shares of the company traded hands, compared to its average volume of 528,329. Broadridge Financial Solutions, Inc. has a 12 month low of $192.68 and a 12 month 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 business has a 50 day moving average of $235.71 and a two-hundred day moving average of $233.91. The firm has a market capitalization of $28.11 billion, a price-to-earnings ratio of 37.43 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share 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 firm had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same period in the prior year, the firm earned $2.23 EPS. The company's 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 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. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.47%. Broadridge Financial Solutions's dividend payout ratio is currently 52.93%.

Insider Activity

In related news, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction on Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the transaction, the chief executive officer now directly owns 169,788 shares in the company, valued at approximately $39,973,188.84. The trade was a 36.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Christopher John Perry sold 22,357 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $12,355,220.52. The trade was a 29.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 132,873 shares of company stock valued at $31,337,863 in the last quarter. 1.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

BR has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price target 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 lifted their target price on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an "equal weight" rating in a report on Monday, February 3rd. UBS Group boosted their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $259.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Finally, Needham & Company LLC initiated coverage on Broadridge Financial Solutions in a research note on Tuesday, May 6th. They set a "buy" rating and a $300.00 target price on the stock. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $250.83.

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.