ProShare Advisors LLC Sells 3,842 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

ProShare Advisors LLC cut its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 7.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,115 shares of the business services provider's stock after selling 3,842 shares during the quarter. ProShare Advisors LLC's holdings in Broadridge Financial Solutions were worth $11,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of BR. Minot DeBlois Advisors LLC purchased a new position in Broadridge Financial Solutions during the 4th quarter valued at $34,000. Gen Wealth Partners Inc purchased a new position in Broadridge Financial Solutions during the 4th quarter valued at $36,000. Global X Japan Co. Ltd. purchased a new position in Broadridge Financial Solutions during the 4th quarter valued at $41,000. Curio Wealth LLC purchased a new position in Broadridge Financial Solutions during the 4th quarter valued at $45,000. Finally, Promus Capital LLC purchased a new position in Broadridge Financial Solutions during the 4th quarter valued at $52,000. 90.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Pamela L. Carter sold 4,829 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $242.23, for a total value of $1,169,728.67. Following the completion of the transaction, the director now directly owns 7,242 shares of the company's stock, valued at $1,754,229.66. This trade represents a 40.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions 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 of the company's stock, valued at approximately $39,973,188.84. This represents a 36.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 128,302 shares of company stock valued at $30,242,095 over the last ninety days. 1.30% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock traded down $0.46 during midday trading on Tuesday, reaching $242.33. 374,365 shares of the company traded hands, compared to its average volume of 531,082. The firm has a market capitalization of $28.46 billion, a price-to-earnings ratio of 37.92 and a beta of 0.98. The business has a 50 day moving average of $234.58 and a two-hundred day moving average of $233.13. 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.

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, topping the consensus estimate of $2.41 by $0.03. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the firm earned $2.23 earnings per share. The company's quarterly revenue was up 5.0% on a year-over-year basis. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th will be issued a dividend of $0.88 per share. The ex-dividend date is Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a yield of 1.45%. Broadridge Financial Solutions's dividend payout ratio is presently 52.93%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BR shares. Morgan Stanley boosted their price objective on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a research report on Monday, February 3rd. DA Davidson reaffirmed a "neutral" rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. UBS Group upped their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. upped their target price on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Finally, Needham & Company LLC started coverage on shares of Broadridge Financial Solutions in a research report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 target price on the stock. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Broadridge Financial Solutions currently has an average rating of "Hold" and a consensus target price 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.