WBI Investments LLC Sells 1,598 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

WBI Investments LLC reduced its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 18.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,862 shares of the business services provider’s stock after selling 1,598 shares during the period. WBI Investments LLC’s holdings in Broadridge Financial Solutions were worth $1,551,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Squarepoint Ops LLC raised its stake in Broadridge Financial Solutions by 252.2% in the fourth quarter. Squarepoint Ops LLC now owns 11,070 shares of the business services provider’s stock worth $2,503,000 after buying an additional 7,927 shares in the last quarter. Texas Bank & Trust Co acquired a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at about $249,000. Toronto Dominion Bank increased its position in shares of Broadridge Financial Solutions by 3.6% during the fourth quarter. Toronto Dominion Bank now owns 62,571 shares of the business services provider’s stock valued at $14,147,000 after acquiring an additional 2,190 shares during the last quarter. Second Line Capital LLC boosted its position in Broadridge Financial Solutions by 4.4% in the 4th quarter. Second Line Capital LLC now owns 13,227 shares of the business services provider’s stock valued at $3,002,000 after buying an additional 554 shares during the period. Finally, Snowden Capital Advisors LLC increased its stake in Broadridge Financial Solutions by 5.1% in the fourth quarter. Snowden Capital Advisors LLC now owns 2,324 shares of the business services provider’s stock valued at $527,000 after purchasing an additional 113 shares during the last quarter. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Trading Up 0.4%

BR stock opened at $241.32 on Monday. The firm has a market cap of $28.35 billion, a P/E ratio of 37.76 and a beta of 0.98. 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 business’s 50 day moving average is $234.22 and its 200-day moving average is $232.90. Broadridge Financial Solutions, Inc. has a 1-year low of $192.68 and a 1-year high of $247.01.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results 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. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the business earned $2.23 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be given a $0.88 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $3.52 annualized dividend and a yield of 1.46%. Broadridge Financial Solutions’s dividend payout ratio is currently 52.93%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on BR shares. Morgan Stanley lifted 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. DA Davidson reaffirmed a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Needham & Company LLC assumed coverage on shares of Broadridge Financial Solutions in a research note on Tuesday, May 6th. They set a “buy” rating and a $300.00 price objective on the stock. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Finally, UBS Group boosted 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. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $250.83.

Insider Buying and Selling

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction on 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 sale, the chief executive officer now directly owns 169,788 shares of the company’s stock, valued at approximately $39,973,188.84. The trade was a 36.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Thomas P. Carey sold 3,607 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total value of $855,796.82. Following the completion of the sale, the vice president now owns 6,077 shares of the company’s stock, valued at approximately $1,441,829.02. This represents a 37.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 123,473 shares of company stock worth $29,072,366. 1.30% of the stock is owned by corporate 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.