Convergence Investment Partners LLC Has $711,000 Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Convergence Investment Partners LLC decreased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,456 shares of the business services provider’s stock after selling 172 shares during the period. Convergence Investment Partners LLC’s holdings in Broadridge Financial Solutions were worth $711,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Jensen Investment Management Inc. lifted its stake in Broadridge Financial Solutions by 2.4% in the 3rd quarter. Jensen Investment Management Inc. now owns 1,825,339 shares of the business services provider’s stock valued at $326,827,000 after purchasing an additional 43,235 shares during the last quarter. Stifel Financial Corp lifted its stake in Broadridge Financial Solutions by 1,700.7% in the 3rd quarter. Stifel Financial Corp now owns 1,542,507 shares of the business services provider’s stock valued at $276,194,000 after purchasing an additional 1,456,847 shares during the last quarter. Northern Trust Corp lifted its stake in Broadridge Financial Solutions by 5.6% in the 3rd quarter. Northern Trust Corp now owns 1,322,979 shares of the business services provider’s stock valued at $236,879,000 after purchasing an additional 70,258 shares during the last quarter. Bahl & Gaynor Inc. lifted its stake in Broadridge Financial Solutions by 1.3% in the 4th quarter. Bahl & Gaynor Inc. now owns 1,082,210 shares of the business services provider’s stock valued at $222,665,000 after purchasing an additional 14,005 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in Broadridge Financial Solutions by 0.5% in the 4th quarter. California Public Employees Retirement System now owns 733,194 shares of the business services provider’s stock valued at $150,855,000 after purchasing an additional 3,840 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Trading Down 0.7 %

NYSE BR traded down $1.41 during mid-day trading on Friday, reaching $194.15. 211,848 shares of the stock were exchanged, compared to its average volume of 369,147. Broadridge Financial Solutions, Inc. has a one year low of $140.06 and a one year high of $210.24. The stock has a 50 day simple moving average of $200.54 and a 200-day simple moving average of $194.55. The stock has a market cap of $22.87 billion, a P/E ratio of 33.82 and a beta of 0.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.40 and a quick ratio of 1.40.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the firm earned $0.91 earnings per share. Broadridge Financial Solutions’s quarterly revenue was up 8.7% on a year-over-year basis. On average, analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio is presently 55.75%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. DA Davidson reissued a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th. Raymond James raised their price target on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Royal Bank of Canada raised their price target on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Evercore ISI reaffirmed an “outperform” rating and set a $230.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. Finally, StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Broadridge Financial Solutions has a consensus rating of “Hold” and a consensus target price of $206.67.

Insider Buying and Selling

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 22,722 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total value of $4,521,678.00. Following the completion of the sale, the insider now directly owns 44,680 shares in the company, valued at $8,891,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 22,722 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total value of $4,521,678.00. Following the completion of the sale, the insider now directly owns 44,680 shares in the company, valued at $8,891,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas P. Carey sold 12,731 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the completion of the sale, the vice president now owns 13,303 shares of the company’s stock, valued at $2,674,169.06. The disclosure for this sale can be found here. Insiders sold 48,483 shares of company stock valued at $9,745,637 over the last quarter. Insiders own 1.60% of the company’s stock.

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.