Handelsbanken Fonder AB Sells 955 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Handelsbanken Fonder AB cut its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 36,980 shares of the business services provider’s stock after selling 955 shares during the quarter. Handelsbanken Fonder AB’s holdings in Broadridge Financial Solutions were worth $8,966,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Curio Wealth LLC purchased a new stake in Broadridge Financial Solutions in the fourth quarter worth about $45,000. Northstar Asset Management Inc. bought a new position in shares of Broadridge Financial Solutions in the 4th quarter worth approximately $2,750,000. Pinnacle Wealth Management Advisory Group LLC purchased a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at approximately $353,000. Congress Asset Management Co. boosted its position in shares of Broadridge Financial Solutions by 1.9% during the fourth quarter. Congress Asset Management Co. now owns 83,799 shares of the business services provider’s stock valued at $18,946,000 after purchasing an additional 1,579 shares in the last quarter. Finally, Lord & Richards Wealth Management LLC bought a new stake in shares of Broadridge Financial Solutions during the fourth quarter valued at approximately $539,000. Institutional investors own 90.03% of the company’s stock.

Analysts Set New Price Targets

BR has been the subject of a number of research reports. Wall Street Zen upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Needham & Company LLC began 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 for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $259.00 price objective on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Broadridge Financial Solutions has a consensus rating of “Hold” and a consensus price target of $250.83.

Insider Activity at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 3,607 shares of Broadridge Financial Solutions stock in a transaction that occurred on 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 directly owns 6,077 shares in the company, valued at $1,441,829.02. The trade was a 37.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Hope M. Jarkowski sold 1,068 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total transaction of $251,214.96. Following the transaction, the insider now owns 1,070 shares in the company, valued at approximately $251,685.40. This trade represents a 49.95% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,116 shares of company stock valued at $4,352,298. 1.30% of the stock is owned by corporate insiders.

Broadridge Financial Solutions Price Performance

BR opened at $239.76 on Friday. The firm has a market cap of $28.16 billion, a PE ratio of 37.52 and a beta of 0.96. The stock has a 50-day moving average price of $236.97 and a 200-day moving average price of $235.04. Broadridge Financial Solutions, Inc. has a 1 year low of $192.68 and a 1 year high of $247.01. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.03. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations 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 previous year, the company earned $2.23 earnings per share. Sell-side 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 firm 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 is Thursday, June 12th. This represents a $3.52 annualized dividend and a yield of 1.47%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 52.93%.

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.