Vision Capital Management Inc. Sells 11,858 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Vision Capital Management Inc. cut its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 24.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,553 shares of the business services provider’s stock after selling 11,858 shares during the period. Broadridge Financial Solutions accounts for approximately 1.2% of Vision Capital Management Inc.’s portfolio, making the stock its 19th largest holding. Vision Capital Management Inc.’s holdings in Broadridge Financial Solutions were worth $8,490,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bogart Wealth LLC grew its holdings in shares of Broadridge Financial Solutions by 384.0% during the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. True Wealth Design LLC boosted its stake in Broadridge Financial Solutions by 2,028.6% in the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after buying an additional 142 shares in the last quarter. Fortitude Family Office LLC boosted its stake in Broadridge Financial Solutions by 246.7% in the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after buying an additional 111 shares in the last quarter. Hazlett Burt & Watson Inc. purchased a new stake in Broadridge Financial Solutions in the third quarter worth approximately $38,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Broadridge Financial Solutions during the third quarter valued at approximately $39,000. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Stock Down 0.2 %

Shares of BR opened at $240.11 on Thursday. The business’s 50 day moving average is $231.55 and its 200 day moving average is $220.97. The company has a market capitalization of $28.07 billion, a PE ratio of 37.58 and a beta of 1.08. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $242.39. The company has a current ratio of 1.35, a quick ratio of 1.39 and a debt-to-equity ratio of 1.64.

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, beating the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same quarter in the prior year, the firm posted $0.92 EPS. Research analysts expect that Broadridge Financial Solutions, Inc. will post 8.55 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 55.09%.

Wall Street Analysts Forecast Growth

BR has been the subject of a number of analyst reports. Royal Bank of Canada increased their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research note on Monday. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Morgan Stanley upped their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday. DA Davidson restated a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. upped their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of “Hold” and an average price target of $239.17.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 10,757 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $226.82, for a total value of $2,439,902.74. Following the completion of the sale, the vice president now directly owns 12,689 shares in the company, valued at approximately $2,878,118.98. This represents a 45.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Laura Matlin sold 514 shares of the business’s stock in a transaction 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 transaction, the vice president now directly owns 6,602 shares of the company’s stock, valued at approximately $1,595,043.20. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,861 shares of company stock worth $7,063,250. 1.30% of the stock is currently owned by company insiders.

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.