Rhumbline Advisers Sells 6,214 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Rhumbline Advisers reduced its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.5% in the 4th quarter, HoldingsChannel reports. The firm owned 244,795 shares of the business services provider’s stock after selling 6,214 shares during the quarter. Rhumbline Advisers’ holdings in Broadridge Financial Solutions were worth $55,346,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BR. Adero Partners LLC increased its position in shares of Broadridge Financial Solutions by 2.5% during the fourth quarter. Adero Partners LLC now owns 1,837 shares of the business services provider’s stock worth $415,000 after acquiring an additional 45 shares in the last quarter. Sunburst Financial Group LLC increased its position in shares of Broadridge Financial Solutions by 4.8% during the fourth quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider’s stock worth $229,000 after acquiring an additional 46 shares in the last quarter. Avestar Capital LLC increased its position in shares of Broadridge Financial Solutions by 4.0% during the third quarter. Avestar Capital LLC now owns 1,248 shares of the business services provider’s stock worth $268,000 after acquiring an additional 48 shares in the last quarter. Foundations Investment Advisors LLC increased its position in shares of Broadridge Financial Solutions by 3.5% during the fourth quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider’s stock worth $345,000 after acquiring an additional 52 shares in the last quarter. Finally, UMB Bank n.a. increased its position in shares of Broadridge Financial Solutions by 5.5% during the fourth quarter. UMB Bank n.a. now owns 1,097 shares of the business services provider’s stock worth $248,000 after acquiring an additional 57 shares in the last quarter. 90.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. UBS Group upped their price objective 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. Royal Bank of Canada upped their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley upped their price objective on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $239.17.

Insider Buying and Selling

In related news, VP Laura Matlin sold 514 shares of the company’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 transaction of $124,182.40. Following the sale, the vice president now owns 6,602 shares of the company’s stock, valued at approximately $1,595,043.20. This represents a 7.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Brett Keller sold 5,442 shares of the company’s 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 sale, the director now directly owns 15,536 shares in the company, valued at $3,734,854.40. This trade represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,666 shares of company stock valued at $5,050,766. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of BR stock opened at $240.40 on Monday. The stock has a market capitalization of $28.13 billion, a P/E ratio of 37.62 and a beta of 1.08. The company has a current ratio of 1.35, a quick ratio of 1.39 and a debt-to-equity ratio of 1.64. The firm’s 50 day moving average is $232.49 and its 200 day moving average is $222.64. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $244.47.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same quarter in the previous year, the company posted $0.92 EPS. On average, sell-side analysts anticipate 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 Thursday, April 3rd. Investors of record on Thursday, March 13th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is currently 55.09%.

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.