Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. trimmed its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 7.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,449 shares of the business services provider’s stock after selling 3,793 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Broadridge Financial Solutions were worth $10,049,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. True Wealth Design LLC lifted its position in Broadridge Financial Solutions by 2,028.6% during the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after buying an additional 142 shares in the last quarter. Fortitude Family Office LLC raised its stake in shares of Broadridge Financial Solutions by 246.7% in the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 111 shares during the period. FSA Wealth Management LLC acquired a new position in shares of Broadridge Financial Solutions during the 3rd quarter valued at $39,000. Global X Japan Co. Ltd. purchased a new stake in Broadridge Financial Solutions during the 4th quarter worth $41,000. Finally, Truvestments Capital LLC acquired a new stake in Broadridge Financial Solutions in the 3rd quarter valued at $45,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the sale, the chief executive officer now directly owns 169,788 shares of the company’s stock, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the completion of the transaction, the vice president now directly owns 6,602 shares of the company’s stock, valued at $1,595,043.20. This trade represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 124,754 shares of company stock worth $29,397,793 over the last ninety days. 1.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BR shares. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. DA Davidson restated a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. JPMorgan Chase & Co. lifted their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Finally, Morgan Stanley lifted their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. 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.com, the stock presently has a consensus rating of “Hold” and an average target price of $239.17.

Broadridge Financial Solutions Trading Up 1.0 %

BR opened at $227.76 on Friday. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $246.58. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a market capitalization of $26.65 billion, a PE ratio of 35.64 and a beta of 1.05. The firm’s fifty day moving average price is $235.43 and its 200 day moving average price is $225.77.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same period last year, the firm posted $0.92 EPS. As a group, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 55.09%.

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.