5,389 Shares in Broadridge Financial Solutions, Inc. (NYSE:BR) Acquired by Virtus ETF Advisers LLC

Virtus ETF Advisers LLC bought a new position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,389 shares of the business services provider's stock, valued at approximately $1,218,000.

A number of other hedge funds also recently made changes to their positions in BR. Vanguard Group Inc. raised its position in Broadridge Financial Solutions by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 14,294,766 shares of the business services provider's stock valued at $3,231,904,000 after purchasing an additional 74,674 shares during the period. Price T Rowe Associates Inc. MD raised its position in Broadridge Financial Solutions by 50.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider's stock valued at $804,952,000 after purchasing an additional 1,186,555 shares during the period. Geode Capital Management LLC grew its stake in shares of Broadridge Financial Solutions by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 3,037,015 shares of the business services provider's stock valued at $684,971,000 after buying an additional 37,141 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Broadridge Financial Solutions by 2.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,649,761 shares of the business services provider's stock valued at $378,175,000 after buying an additional 43,533 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Broadridge Financial Solutions by 2.5% during the fourth quarter. Barclays PLC now owns 1,648,527 shares of the business services provider's stock valued at $372,713,000 after buying an additional 40,506 shares during the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 95,956 shares of the company'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 value of $22,590,921.08. Following the sale, the chief executive officer now owns 169,788 shares in the company, valued at $39,973,188.84. This represents a 36.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brett Keller sold 5,442 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the completion of the transaction, the director now owns 15,536 shares in the company, valued at approximately $3,734,854.40. This trade represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 124,754 shares of company stock worth $29,397,793. Insiders own 1.30% of the company's stock.

Broadridge Financial Solutions Stock Down 5.3 %

Broadridge Financial Solutions stock traded down $12.85 during trading hours on Thursday, reaching $229.55. The stock had a trading volume of 535,494 shares, compared to its average volume of 528,726. The company has a market cap of $26.86 billion, a price-to-earnings ratio of 35.98 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 business's 50 day moving average price is $234.71 and its 200-day moving average price is $231.08. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $247.01.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its earnings results on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, topping analysts' consensus estimates of $2.41 by $0.03. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The firm's revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.23 earnings per share. Sell-side 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 was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th were paid a dividend of $0.88 per share. The ex-dividend date was Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.53%. Broadridge Financial Solutions's payout ratio is 55.09%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. StockNews.com cut Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research note on Wednesday. JPMorgan Chase & Co. increased 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. Morgan Stanley increased 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. UBS Group increased their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Finally, DA Davidson reissued a "neutral" rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $241.00.

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.