Hsbc Holdings PLC Decreases Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Hsbc Holdings PLC reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 10.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 334,079 shares of the business services provider's stock after selling 39,076 shares during the quarter. Hsbc Holdings PLC owned approximately 0.29% of Broadridge Financial Solutions worth $75,469,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Fortitude Family Office LLC grew its position in shares of Broadridge Financial Solutions by 246.7% during the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider's stock worth $35,000 after buying an additional 111 shares during the period. Global X Japan Co. Ltd. purchased a new position in Broadridge Financial Solutions during the fourth quarter worth about $41,000. Curio Wealth LLC bought a new position in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $45,000. Salem Investment Counselors Inc. grew its stake in Broadridge Financial Solutions by 200.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 225 shares of the business services provider's stock valued at $51,000 after purchasing an additional 150 shares during the period. Finally, Promus Capital LLC purchased a new stake in Broadridge Financial Solutions during the fourth quarter worth about $52,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction dated 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. This represents a 36.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brett Keller sold 5,442 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total value of $1,308,256.80. Following the completion of the sale, the director now directly owns 15,536 shares of the company's stock, valued at approximately $3,734,854.40. This represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 124,754 shares of company stock worth $29,397,793. 1.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BR has been the subject of several research reports. UBS Group increased their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. DA Davidson reissued a "neutral" rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Royal Bank of Canada upped their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. StockNews.com upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Tuesday, April 22nd. Finally, Morgan Stanley upped their price target on shares of 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. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $241.00.

Broadridge Financial Solutions Price Performance

BR stock traded up $1.48 during mid-day trading on Tuesday, reaching $238.66. 88,936 shares of the company traded hands, compared to its average volume of 524,084. Broadridge Financial Solutions, Inc. has a 52-week low of $188.30 and a 52-week high of $247.01. The company has a market capitalization of $27.93 billion, a P/E ratio of 37.34 and a beta of 1.06. 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 company has a fifty day moving average price of $234.50 and a 200-day moving average price of $230.94.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same period in the prior year, the business posted $0.92 earnings per share. As a group, analysts anticipate 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 declared a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th were issued a $0.88 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.47%. Broadridge Financial Solutions's payout ratio is currently 55.09%.

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.