Handelsbanken Fonder AB Has $8.58 Million Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Handelsbanken Fonder AB lowered its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,935 shares of the business services provider’s stock after selling 126 shares during the period. Handelsbanken Fonder AB’s holdings in Broadridge Financial Solutions were worth $8,577,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ieq Capital LLC lifted its position in shares of Broadridge Financial Solutions by 48.4% during the 4th quarter. Ieq Capital LLC now owns 11,991 shares of the business services provider’s stock worth $2,711,000 after purchasing an additional 3,910 shares during the last quarter. Lyell Wealth Management LP lifted its position in shares of Broadridge Financial Solutions by 52.6% during the 4th quarter. Lyell Wealth Management LP now owns 29,977 shares of the business services provider’s stock worth $6,778,000 after purchasing an additional 10,334 shares during the last quarter. Global Retirement Partners LLC lifted its position in shares of Broadridge Financial Solutions by 14.9% during the 4th quarter. Global Retirement Partners LLC now owns 2,548 shares of the business services provider’s stock worth $576,000 after purchasing an additional 331 shares during the last quarter. Atlas Legacy Advisors LLC acquired a new position in shares of Broadridge Financial Solutions during the 4th quarter worth about $708,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Broadridge Financial Solutions during the 4th quarter worth about $115,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Transactions at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 15,710 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the transaction, the vice president now directly owns 12,146 shares of the company’s stock, valued at $2,797,466.72. The trade was a 56.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 stock was 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 $1,595,043.20. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,666 shares of company stock valued at $5,050,766 in the last three months. 1.30% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Trading Down 0.4 %

BR stock opened at $235.31 on Friday. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $244.47. The firm has a market cap of $27.54 billion, a P/E ratio of 36.82 and a beta of 1.08. The business’s 50 day moving average is $232.79 and its 200-day moving average is $223.40. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period last year, the company posted $0.92 EPS. Equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is currently 55.09%.

Wall Street Analyst Weigh In

BR has been the topic of several research reports. UBS Group boosted their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Morgan Stanley boosted their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. DA Davidson restated a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Broadridge Financial Solutions has an average rating of “Hold” and an average target price of $239.17.

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.