Bell Asset Management Ltd Trims Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Bell Asset Management Ltd lowered its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,962 shares of the business services provider’s stock after selling 260 shares during the period. Bell Asset Management Ltd’s holdings in Broadridge Financial Solutions were worth $6,548,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in Broadridge Financial Solutions in the 4th quarter valued at about $106,904,000. Raymond James Financial Inc. acquired a new stake in Broadridge Financial Solutions in the 4th quarter worth about $104,466,000. Corient Private Wealth LLC grew its holdings in Broadridge Financial Solutions by 882.9% in the fourth quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider’s stock valued at $99,186,000 after purchasing an additional 392,695 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth $25,773,000. Finally, American Century Companies Inc. raised its holdings in shares of Broadridge Financial Solutions by 51.0% in the 4th quarter. American Century Companies Inc. now owns 252,984 shares of the business services provider’s stock worth $57,197,000 after purchasing an additional 85,463 shares during the period. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Performance

BR opened at $225.19 on Monday. The stock has a market cap of $26.35 billion, a PE ratio of 35.24 and a beta of 1.06. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $247.01. The stock’s 50 day simple moving average is $237.48 and its 200-day simple moving average is $228.80. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 posted $0.92 earnings per share. Sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th were paid a $0.88 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.56%. Broadridge Financial Solutions’s dividend payout ratio is currently 55.09%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the transaction, the vice president now directly owns 6,602 shares in the company, valued at $1,595,043.20. The trade was a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brett Keller sold 5,442 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the completion of the transaction, the director now owns 15,536 shares of the company’s stock, valued at $3,734,854.40. This trade represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 124,754 shares of company stock worth $29,397,793 in the last 90 days. 1.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BR. UBS Group lifted their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. DA Davidson reaffirmed a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $241.00.

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.