Intech Investment Management LLC Sells 18,321 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Intech Investment Management LLC reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 34.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,150 shares of the business services provider’s stock after selling 18,321 shares during the quarter. Intech Investment Management LLC’s holdings in Broadridge Financial Solutions were worth $7,721,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BR. Adero Partners LLC boosted its holdings in Broadridge Financial Solutions by 2.5% in the 4th quarter. Adero Partners LLC now owns 1,837 shares of the business services provider’s stock valued at $415,000 after purchasing an additional 45 shares during the period. Sunburst Financial Group LLC raised its position in shares of Broadridge Financial Solutions by 4.8% in the fourth quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider’s stock worth $229,000 after buying an additional 46 shares in the last quarter. Avestar Capital LLC boosted its stake in 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 valued at $268,000 after buying an additional 48 shares during the period. Foundations Investment Advisors LLC grew its position in 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 buying an additional 52 shares in the last quarter. Finally, TCTC Holdings LLC increased its stake in Broadridge Financial Solutions by 0.9% in the 4th quarter. TCTC Holdings LLC now owns 5,979 shares of the business services provider’s stock worth $1,352,000 after acquiring an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insider Transactions at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 22,357 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the completion of the transaction, the president now owns 52,524 shares in the company, valued at $12,355,220.52. This represents a 29.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction on Monday, March 10th. The shares were 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 approximately $39,973,188.84. This trade represents a 36.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,754 shares of company stock worth $29,397,793. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Trading Down 0.2 %

Shares of BR stock opened at $231.11 on Wednesday. The business has a 50-day moving average of $235.61 and a 200 day moving average of $226.37. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $246.58. The stock has a market capitalization of $27.04 billion, a PE ratio of 36.17 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the previous year, the business earned $0.92 EPS. As a group, 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 55.09%.

Analyst Ratings Changes

BR has been the subject of several recent analyst reports. UBS Group boosted their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. DA Davidson reaffirmed a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. JPMorgan Chase & Co. increased their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Finally, Morgan Stanley increased their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.