Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lowered its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 51,544 shares of the business services provider’s stock after selling 302 shares during the period. Royal London Asset Management Ltd.’s holdings in Broadridge Financial Solutions were worth $10,605,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its holdings in shares of Broadridge Financial Solutions by 22.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 472,031 shares of the business services provider’s stock valued at $97,120,000 after buying an additional 86,853 shares during the period. EP Wealth Advisors LLC increased its stake in shares of Broadridge Financial Solutions by 44.0% in the fourth quarter. EP Wealth Advisors LLC now owns 9,046 shares of the business services provider’s stock worth $1,861,000 after acquiring an additional 2,765 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of Broadridge Financial Solutions by 29.0% during the 4th quarter. V Square Quantitative Management LLC now owns 2,319 shares of the business services provider’s stock valued at $477,000 after buying an additional 521 shares during the last quarter. Novak & Powell Financial Services Inc. bought a new stake in Broadridge Financial Solutions in the fourth quarter worth $235,000. Finally, Covenant Partners LLC bought a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at approximately $211,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Transactions at Broadridge Financial Solutions

In other news, Director Robert N. Duelks sold 3,473 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total value of $687,862.38. Following the transaction, the director now owns 22,588 shares of the company’s stock, valued at $4,473,779.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.40, for a total value of $501,000.00. Following the completion of the sale, the vice president now owns 9,361 shares in the company, valued at $1,875,944.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert N. Duelks sold 3,473 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total transaction of $687,862.38. Following the sale, the director now directly owns 22,588 shares of the company’s stock, valued at approximately $4,473,779.28. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock traded down $0.28 during midday trading on Friday, hitting $195.13. The company’s stock had a trading volume of 289,934 shares, compared to its average volume of 564,623. The company has a market cap of $23.06 billion, a price-to-earnings ratio of 33.30 and a beta of 1.03. Broadridge Financial Solutions, Inc. has a 1-year low of $156.26 and a 1-year high of $210.24. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39. The company has a 50-day moving average price of $197.87 and a two-hundred day moving average price of $199.49.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.01). The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company posted $2.05 earnings per share. As a group, sell-side analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio is presently 54.61%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Evercore ISI reiterated an “outperform” rating and issued a $230.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. DA Davidson restated a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Finally, StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Friday. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Hold” and an average price target of $206.67.

Broadridge Financial Solutions 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.