Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by SVB Wealth LLC

SVB Wealth LLC reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 24.7% in the 4th quarter, Holdings Channel reports. The firm owned 94,431 shares of the business services provider’s stock after selling 31,051 shares during the quarter. SVB Wealth LLC’s holdings in Broadridge Financial Solutions were worth $19,429,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BR. Hamilton Point Investment Advisors LLC grew its holdings in Broadridge Financial Solutions by 2.5% in the 4th quarter. Hamilton Point Investment Advisors LLC now owns 22,630 shares of the business services provider’s stock valued at $4,674,000 after buying an additional 557 shares in the last quarter. Cornercap Investment Counsel Inc. acquired a new stake in Broadridge Financial Solutions in the 4th quarter valued at about $1,089,000. Strs Ohio raised its position in Broadridge Financial Solutions by 34.2% in the 4th quarter. Strs Ohio now owns 35,571 shares of the business services provider’s stock valued at $7,318,000 after purchasing an additional 9,071 shares in the last quarter. Vontobel Holding Ltd. raised its position in Broadridge Financial Solutions by 294.6% in the 4th quarter. Vontobel Holding Ltd. now owns 14,452 shares of the business services provider’s stock valued at $2,974,000 after purchasing an additional 10,790 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Broadridge Financial Solutions by 1.0% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 284,577 shares of the business services provider’s stock valued at $58,552,000 after purchasing an additional 2,815 shares in the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Broadridge Financial Solutions

In related news, insider Douglas Richard Deschutter sold 22,722 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the sale, the insider now owns 44,680 shares in the company, valued at $8,891,320. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Robert N. Duelks sold 830 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $201.58, for a total transaction of $167,311.40. Following the completion of the sale, the director now directly owns 5,445 shares of the company’s stock, valued at approximately $1,097,603.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Douglas Richard Deschutter sold 22,722 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the completion of the transaction, the insider now directly owns 44,680 shares of the company’s stock, valued at $8,891,320. The disclosure for this sale can be found here. Insiders have sold a total of 48,483 shares of company stock valued at $9,745,637 over the last quarter. Insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of BR stock traded down $1.31 during midday trading on Tuesday, hitting $194.36. The company had a trading volume of 96,541 shares, compared to its average volume of 513,860. The company’s 50 day simple moving average is $201.16 and its 200 day simple moving average is $193.79. The stock has a market cap of $22.89 billion, a price-to-earnings ratio of 34.09 and a beta of 0.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.40 and a quick ratio of 1.40. Broadridge Financial Solutions, Inc. has a 52-week low of $139.52 and a 52-week high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $0.91 earnings per share. Research analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a $0.80 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.20 annualized dividend and a dividend yield of 1.65%. Broadridge Financial Solutions’s dividend payout ratio is currently 55.75%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BR shares. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday. Raymond James increased their price target on Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. DA Davidson reaffirmed a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. Evercore ISI reissued an “outperform” rating and set a $230.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Finally, Royal Bank of Canada raised their target price on Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Broadridge Financial Solutions presently has an average rating of “Moderate Buy” and an average price target of $206.67.

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.