ING Groep NV Cuts Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

ING Groep NV decreased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 8.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,002 shares of the business services provider’s stock after selling 4,387 shares during the quarter. ING Groep NV’s holdings in Broadridge Financial Solutions were worth $10,911,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. D.A. Davidson & CO. purchased a new stake in shares of Broadridge Financial Solutions during the first quarter valued at approximately $217,000. CWA Asset Management Group LLC lifted its position in Broadridge Financial Solutions by 6.8% during the first quarter. CWA Asset Management Group LLC now owns 1,370 shares of the business services provider’s stock valued at $332,000 after purchasing an additional 87 shares during the period. Golden State Wealth Management LLC bought a new position in Broadridge Financial Solutions during the first quarter valued at approximately $29,000. Sequoia Financial Advisors LLC lifted its position in Broadridge Financial Solutions by 9.6% during the first quarter. Sequoia Financial Advisors LLC now owns 1,153 shares of the business services provider’s stock valued at $279,000 after purchasing an additional 101 shares during the period. Finally, Exchange Traded Concepts LLC lifted its position in Broadridge Financial Solutions by 12.3% during the first quarter. Exchange Traded Concepts LLC now owns 655 shares of the business services provider’s stock valued at $159,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analyst Upgrades and Downgrades

BR has been the topic of a number of research analyst reports. Needham & Company LLC initiated coverage on shares of Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a “buy” rating and a $300.00 price objective on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $259.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Finally, Wall Street Zen upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Broadridge Financial Solutions currently has a consensus rating of “Hold” and an average target price of $250.83.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, Director Pamela L. Carter sold 4,829 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $242.23, for a total value of $1,169,728.67. Following the transaction, the director directly owned 7,242 shares in the company, valued at approximately $1,754,229.66. This trade represents a 40.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $251,214.96. Following the completion of the transaction, the insider owned 1,070 shares in the company, valued at $251,685.40. The trade was a 49.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,116 shares of company stock valued at $4,352,298. 1.30% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Stock Up 1.8%

BR opened at $248.98 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.44. Broadridge Financial Solutions, Inc. has a 1-year low of $206.29 and a 1-year high of $257.65. The company has a market capitalization of $29.24 billion, a PE ratio of 37.44 and a beta of 0.94. The firm’s 50 day simple moving average is $241.63 and its two-hundred day simple moving average is $238.09.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th were given a $0.88 dividend. The ex-dividend date was Thursday, June 12th. This represents a $3.52 annualized dividend and a yield of 1.4%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 52.93%.

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.