Baird Financial Group Inc. Has $118.64 Million Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Baird Financial Group Inc. cut its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 524,744 shares of the business services provider’s stock after selling 38,807 shares during the period. Baird Financial Group Inc. owned 0.45% of Broadridge Financial Solutions worth $118,639,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BR. Adero Partners LLC raised its position in Broadridge Financial Solutions by 2.5% in 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 during the period. Sunburst Financial Group LLC increased its stake in shares of Broadridge Financial Solutions by 4.8% during the 4th quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider’s stock worth $229,000 after purchasing an additional 46 shares during the last quarter. Nicolet Advisory Services LLC raised its holdings in shares of Broadridge Financial Solutions by 4.8% in the 4th quarter. Nicolet Advisory Services LLC now owns 1,010 shares of the business services provider’s stock worth $224,000 after purchasing an additional 46 shares during the period. Advisors Capital Management LLC lifted its stake in Broadridge Financial Solutions by 3.5% in the fourth quarter. Advisors Capital Management LLC now owns 1,440 shares of the business services provider’s stock valued at $326,000 after purchasing an additional 49 shares during the last quarter. Finally, Foundations Investment Advisors LLC increased its position in Broadridge Financial Solutions by 3.5% in 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 during the last quarter. Institutional investors own 90.03% of the company’s stock.

Analyst Upgrades and Downgrades

BR has been the subject of several research reports. Morgan Stanley increased their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday. Royal Bank of Canada upped their price target on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, UBS Group increased their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $241.00.

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $232.83 on Friday. The company’s 50 day simple moving average is $234.48 and its two-hundred day simple moving average is $231.29. 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 $247.01. The stock has a market capitalization of $27.25 billion, a PE ratio of 36.44 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data 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 company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the company earned $2.23 earnings per share. Analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 13th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date was Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 52.93%.

Insider Activity at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 22,357 shares of the firm’s stock in a transaction dated 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 transaction, the president now directly owns 52,524 shares of the company’s stock, valued at approximately $12,355,220.52. This trade represents a 29.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Laura Matlin sold 514 shares of the company’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 sale, the vice president now directly 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 disclosure for this sale can be found here. Insiders have sold 124,754 shares of company stock valued at $29,397,793 over the last three months. 1.30% of the stock is owned by corporate insiders.

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.