Shell Asset Management Co. Sells 2,181 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Shell Asset Management Co. lessened its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 11.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,559 shares of the business services provider's stock after selling 2,181 shares during the period. Shell Asset Management Co.'s holdings in Broadridge Financial Solutions were worth $3,744,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BR. Curio Wealth LLC bought a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth about $45,000. Miracle Mile Advisors LLC grew its holdings in shares of Broadridge Financial Solutions by 98.0% during the fourth quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider's stock worth $550,000 after purchasing an additional 1,204 shares during the last quarter. Park Place Capital Corp grew its holdings in shares of Broadridge Financial Solutions by 31.3% during the fourth quarter. Park Place Capital Corp now owns 5,831 shares of the business services provider's stock worth $1,318,000 after purchasing an additional 1,391 shares during the last quarter. Crown Oak Advisors LLC grew its holdings in shares of Broadridge Financial Solutions by 10.8% during the fourth quarter. Crown Oak Advisors LLC now owns 36,376 shares of the business services provider's stock worth $8,224,000 after purchasing an additional 3,553 shares during the last quarter. Finally, Occidental Asset Management LLC lifted its stake in shares of Broadridge Financial Solutions by 6.8% in the fourth quarter. Occidental Asset Management LLC now owns 19,276 shares of the business services provider's stock worth $4,358,000 after acquiring an additional 1,223 shares during the period. Institutional investors own 90.03% of the company's stock.

Insider Activity

In other news, CEO Timothy C. Gokey sold 95,956 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 169,788 shares in the company, valued at $39,973,188.84. The trade was a 36.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert N. Duelks sold 485 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $237.93, for a total value of $115,396.05. Following the sale, the director now owns 4,960 shares of the company's stock, valued at approximately $1,180,132.80. This represents a 8.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 123,473 shares of company stock worth $29,072,366 over the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

BR has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an "equal weight" rating in a research note on Monday, February 3rd. Needham & Company LLC initiated coverage on Broadridge Financial Solutions in a research note on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price objective on the stock. StockNews.com raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. lifted their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of "Hold" and a consensus target price of $250.83.

Broadridge Financial Solutions Trading Up 0.6%

BR traded up $1.48 during trading on Monday, hitting $242.69. The company's stock had a trading volume of 435,408 shares, compared to its average volume of 531,570. Broadridge Financial Solutions, Inc. has a twelve month low of $192.68 and a twelve month high of $247.01. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock's fifty day moving average price is $234.58 and its 200-day moving average price is $233.13. The firm has a market capitalization of $28.51 billion, a P/E ratio of 37.98 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) 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 analyst estimates of $1.86 billion. During the same period in the previous year, the firm earned $2.23 earnings per share. The company's revenue was up 5.0% compared to the same quarter last year. Analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS 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 paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.45%. The ex-dividend date is Thursday, June 12th. Broadridge Financial Solutions's dividend payout ratio (DPR) is presently 52.93%.

Broadridge Financial Solutions Company 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.