Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 9,491 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 3.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 275,102 shares of the business services provider's stock after selling 9,491 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 0.23% of Broadridge Financial Solutions worth $53,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. OFI Invest Asset Management bought a new position in shares of Broadridge Financial Solutions in the third quarter worth approximately $25,000. Headinvest LLC bought a new position in shares of Broadridge Financial Solutions during the third quarter worth $32,000. First Command Advisory Services Inc. bought a new position in shares of Broadridge Financial Solutions during the third quarter worth $34,000. Stuart Chaussee & Associates Inc. bought a new position in shares of Broadridge Financial Solutions during the fourth quarter worth $34,000. Finally, Manchester Capital Management LLC boosted its position in shares of Broadridge Financial Solutions by 57.1% during the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider's stock worth $34,000 after acquiring an additional 60 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Trading Up 1.0 %

Shares of BR traded up $1.92 during midday trading on Thursday, hitting $195.35. The stock had a trading volume of 429,701 shares, compared to its average volume of 494,195. Broadridge Financial Solutions, Inc. has a 1 year low of $144.54 and a 1 year high of $210.24. The firm has a market cap of $23.01 billion, a PE ratio of 34.03 and a beta of 0.98. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.40 and a quick ratio of 1.40. The stock's 50 day moving average is $200.41 and its 200 day moving average is $194.93.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The business's revenue for the quarter was up 8.7% on a year-over-year basis. As a group, analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Thursday, March 14th. Broadridge Financial Solutions's dividend payout ratio is currently 55.75%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Raymond James upped their target price on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an "outperform" rating in a research report on Friday, February 2nd. StockNews.com lowered shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research report on Friday, April 26th. Evercore ISI reiterated an "outperform" rating and set a $230.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Royal Bank of Canada increased their price objective on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an "outperform" rating in a research report on Friday, February 2nd. Finally, DA Davidson reiterated a "neutral" rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $206.67.

Insider Activity

In related news, insider Douglas Richard Deschutter sold 22,722 shares of the firm's stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total value of $4,521,678.00. Following the transaction, the insider now owns 44,680 shares of the company's stock, valued at approximately $8,891,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Robert N. Duelks sold 830 shares of the firm's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $201.58, for a total value of $167,311.40. Following the transaction, the director now owns 5,445 shares of the company's stock, valued at approximately $1,097,603.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Douglas Richard Deschutter sold 22,722 shares of the firm's stock in a transaction dated 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 completion of the transaction, the insider now directly owns 44,680 shares in the company, valued at approximately $8,891,320. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,483 shares of company stock valued at $9,745,637. 1.60% of the stock is currently owned by company insiders.

Broadridge Financial Solutions 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.

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