Handelsbanken Fonder AB Lowers Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Handelsbanken Fonder AB cut its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 63.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,653 shares of the business services provider's stock after selling 33,959 shares during the period. Handelsbanken Fonder AB's holdings in Broadridge Financial Solutions were worth $4,044,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of BR. AE Wealth Management LLC boosted its stake in Broadridge Financial Solutions by 1.8% in the 3rd quarter. AE Wealth Management LLC now owns 7,436 shares of the business services provider's stock worth $1,331,000 after purchasing an additional 130 shares in the last quarter. IFP Advisors Inc raised its position in Broadridge Financial Solutions by 33.5% during the 3rd quarter. IFP Advisors Inc now owns 550 shares of the business services provider's stock worth $98,000 after buying an additional 138 shares during the last quarter. DAVENPORT & Co LLC purchased a new position in Broadridge Financial Solutions during the 3rd quarter worth approximately $210,000. Caprock Group LLC raised its position in Broadridge Financial Solutions by 37.7% during the 3rd quarter. Caprock Group LLC now owns 2,106 shares of the business services provider's stock worth $379,000 after buying an additional 577 shares during the last quarter. Finally, Oak Thistle LLC raised its position in Broadridge Financial Solutions by 217.2% during the 3rd quarter. Oak Thistle LLC now owns 4,495 shares of the business services provider's stock worth $805,000 after buying an additional 3,078 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Trading Down 0.8 %

Shares of BR stock traded down $1.51 on Friday, hitting $194.05. 211,848 shares of the stock traded hands, compared to its average volume of 500,673. The firm's 50-day moving average price is $200.62 and its two-hundred day moving average price is $194.46. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a market capitalization of $22.85 billion, a PE ratio of 33.82 and a beta of 0.99. Broadridge Financial Solutions, Inc. has a twelve month low of $140.06 and a twelve month high of $210.24.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its earnings results on Thursday, February 1st. The business services provider reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.03. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The company had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. Broadridge Financial Solutions's revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a dividend of $0.80 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.20 dividend on an annualized basis and a yield of 1.65%. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 55.75%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BR shares. DA Davidson reaffirmed a "neutral" rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. StockNews.com raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, April 12th. Raymond James lifted their target price on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an "outperform" rating in a report on Friday, February 2nd. Evercore ISI reaffirmed an "outperform" rating and set a $230.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Finally, Royal Bank of Canada lifted their target price on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an "outperform" rating in a report on Friday, February 2nd. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $206.67.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 22,722 shares of the business's stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the sale, the insider now directly owns 44,680 shares in the company, valued at $8,891,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Robert N. Duelks sold 830 shares of the company's stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $201.58, for a total transaction of $167,311.40. Following the sale, the director now directly owns 5,445 shares in the company, valued at $1,097,603.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas Richard Deschutter sold 22,722 shares of the company's stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the sale, the insider now owns 44,680 shares in the company, valued at $8,891,320. The disclosure for this sale can be found here. Insiders have sold 48,483 shares of company stock worth $9,745,637 over the last three months. Company insiders own 1.60% of the company's stock.

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.