Voya Investment Management LLC Sells 22,519 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Voya Investment Management LLC lowered its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 17.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 106,782 shares of the business services provider's stock after selling 22,519 shares during the quarter. Voya Investment Management LLC owned approximately 0.09% of Broadridge Financial Solutions worth $24,142,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BR. Fortitude Family Office LLC increased its position in Broadridge Financial Solutions by 246.7% during the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider's stock worth $35,000 after acquiring an additional 111 shares during the period. Global X Japan Co. Ltd. acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $41,000. Curio Wealth LLC acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $45,000. Salem Investment Counselors Inc. boosted its stake in shares of Broadridge Financial Solutions by 200.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 225 shares of the business services provider's stock valued at $51,000 after buying an additional 150 shares during the period. Finally, Promus Capital LLC acquired a new stake in Broadridge Financial Solutions during the fourth quarter worth approximately $52,000. Institutional investors own 90.03% of the company's stock.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 95,956 shares of the firm'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 of the company's stock, valued at $39,973,188.84. This trade represents a 36.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Laura Matlin sold 514 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the transaction, the vice president now directly owns 6,602 shares in the company, valued at approximately $1,595,043.20. This trade represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 124,754 shares of company stock valued at $29,397,793. 1.30% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Price Performance

BR traded up $4.51 on Friday, reaching $232.52. The stock had a trading volume of 247,068 shares, compared to its average volume of 530,409. The company has a market capitalization of $27.21 billion, a price-to-earnings ratio of 36.39 and a beta of 1.06. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The firm has a 50-day moving average of $234.55 and a 200-day moving average of $231.13. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $247.01.

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 (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.03. The firm 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 company's revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.23 earnings per share. As a group, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 13th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend was Thursday, March 13th. Broadridge Financial Solutions's payout ratio is presently 55.09%.

Analyst Ratings Changes

Several equities analysts have recently commented on BR shares. UBS Group boosted their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. StockNews.com downgraded shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research report on Wednesday. Morgan Stanley raised their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. boosted their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada raised their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Broadridge Financial Solutions presently has a consensus rating of "Hold" and a consensus price target 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.