Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Man Group plc

Man Group plc decreased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 100,202 shares of the business services provider’s stock after selling 3,955 shares during the quarter. Man Group plc’s holdings in Broadridge Financial Solutions were worth $22,655,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Broadridge Financial Solutions by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 14,294,766 shares of the business services provider’s stock valued at $3,231,904,000 after buying an additional 74,674 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Broadridge Financial Solutions by 50.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider’s stock worth $804,952,000 after acquiring an additional 1,186,555 shares in the last quarter. Geode Capital Management LLC raised its position in Broadridge Financial Solutions by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 3,037,015 shares of the business services provider’s stock worth $684,971,000 after acquiring an additional 37,141 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Broadridge Financial Solutions by 2.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,649,761 shares of the business services provider’s stock valued at $378,175,000 after purchasing an additional 43,533 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Broadridge Financial Solutions by 2.5% during the fourth quarter. Barclays PLC now owns 1,648,527 shares of the business services provider’s stock valued at $372,713,000 after purchasing an additional 40,506 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insider Activity

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 169,788 shares in the company, valued at $39,973,188.84. This represents a 36.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert N. Duelks sold 485 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $237.93, for a total transaction of $115,396.05. Following the completion of the transaction, the director now directly owns 4,960 shares of the company’s stock, valued at approximately $1,180,132.80. The trade was a 8.91% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 123,473 shares of company stock valued at $29,072,366. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. DA Davidson reissued a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. 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 research note on Monday, February 3rd. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Needham & Company LLC initiated coverage on shares of Broadridge Financial Solutions in a research note on Tuesday, May 6th. They issued a “buy” rating and a $300.00 price target on the stock. Finally, Royal Bank of Canada boosted their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $250.83.

Broadridge Financial Solutions Trading Up 1.2%

NYSE BR opened at $240.28 on Friday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a market capitalization of $28.22 billion, a P/E ratio of 37.60 and a beta of 0.98. The firm’s 50-day moving average is $233.92 and its two-hundred day moving average is $232.41. Broadridge Financial Solutions, Inc. has a 12 month low of $192.68 and a 12 month high of $247.01.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, topping the consensus estimate of $2.41 by $0.03. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.23 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.46%. Broadridge Financial Solutions’s dividend payout ratio is currently 52.93%.

Broadridge Financial Solutions 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.