Prudential Financial Inc. Sells 13,957 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Prudential Financial Inc. cut its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 18.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,987 shares of the business services provider’s stock after selling 13,957 shares during the period. Prudential Financial Inc. owned 0.05% of Broadridge Financial Solutions worth $13,562,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Adero Partners LLC increased its position in Broadridge Financial Solutions by 2.5% during the fourth quarter. Adero Partners LLC now owns 1,837 shares of the business services provider’s stock worth $415,000 after buying an additional 45 shares during the last quarter. Sunburst Financial Group LLC increased its holdings 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 acquiring an additional 46 shares during the last quarter. Avestar Capital LLC increased its holdings in shares of Broadridge Financial Solutions by 4.0% during the 3rd quarter. Avestar Capital LLC now owns 1,248 shares of the business services provider’s stock worth $268,000 after acquiring an additional 48 shares during the last quarter. Foundations Investment Advisors LLC raised its stake in Broadridge Financial Solutions by 3.5% in the 4th quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider’s stock valued at $345,000 after acquiring an additional 52 shares during the period. Finally, TCTC Holdings LLC lifted its holdings in Broadridge Financial Solutions by 0.9% during the 4th quarter. TCTC Holdings LLC now owns 5,979 shares of the business services provider’s stock valued at $1,352,000 after purchasing an additional 52 shares during the last quarter. 90.03% of the stock is owned by institutional investors.

Insider Transactions at Broadridge Financial Solutions

In related news, Director Brett Keller sold 5,442 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the completion of the sale, the director now directly owns 15,536 shares in the company, valued at $3,734,854.40. This represents a 25.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $235.43, for a total value of $22,590,921.08. Following the completion of the transaction, the chief executive officer now owns 169,788 shares in the company, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 124,754 shares of company stock valued at $29,397,793. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Trading Up 0.4 %

Shares of BR stock opened at $239.12 on Friday. The stock has a market cap of $27.98 billion, a P/E ratio of 37.42 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $246.58. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock has a 50 day simple moving average of $236.82 and a 200 day simple moving average of $227.38.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates 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 business posted $0.92 earnings per share. On average, research 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 company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is presently 55.09%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BR. Royal Bank of Canada increased their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. UBS Group increased their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. DA Davidson reiterated a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Finally, Morgan Stanley boosted their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Five investment 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 an average rating of “Hold” and a consensus price target of $241.00.

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.