Mattern Capital Management LLC Sells 2,094 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Mattern Capital Management LLC lowered its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,153 shares of the business services provider’s stock after selling 2,094 shares during the period. Broadridge Financial Solutions makes up approximately 1.3% of Mattern Capital Management LLC’s holdings, making the stock its 17th biggest position. Mattern Capital Management LLC’s holdings in Broadridge Financial Solutions were worth $10,220,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Whipplewood Advisors LLC grew its stake in Broadridge Financial Solutions by 2,620.0% in the 1st quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider’s stock valued at $33,000 after buying an additional 131 shares during the last quarter. Continuum Advisory LLC boosted its holdings in Broadridge Financial Solutions by 48.4% during the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 46 shares during the period. Minot DeBlois Advisors LLC acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at about $34,000. Gen Wealth Partners Inc bought a new position in shares of Broadridge Financial Solutions in the fourth quarter worth about $36,000. Finally, Curio Wealth LLC bought a new position in shares of Broadridge Financial Solutions in the fourth quarter worth about $45,000. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Trading Up 0.7%

Broadridge Financial Solutions stock opened at $241.97 on Wednesday. The business has a 50 day moving average price of $238.56 and a two-hundred day moving average price of $235.25. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.44. Broadridge Financial Solutions, Inc. has a 12 month low of $195.64 and a 12 month high of $247.01. The stock has a market cap of $28.42 billion, a price-to-earnings ratio of 36.39 and a beta of 0.96.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.03. Broadridge Financial Solutions had a return on equity of 44.82% and a net margin of 11.65%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the company posted $2.23 earnings per share. Broadridge Financial Solutions’s revenue was up 5.0% on a year-over-year basis. As a group, equities analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.45%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 52.93%.

Insider Activity

In other news, insider Hope M. Jarkowski sold 1,068 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total value of $251,214.96. Following the completion of the transaction, the insider now directly owns 1,070 shares of the company’s stock, valued at approximately $251,685.40. This represents a 49.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Maura A. Markus sold 3,556 shares of the business’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total value of $864,392.48. Following the completion of the sale, the director now directly owns 30,892 shares in the company, valued at approximately $7,509,227.36. This represents a 10.32% 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 worth $4,352,298. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $259.00 target price on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Needham & Company LLC started 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 objective on the stock. Finally, Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $250.83.

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.