Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN decreased its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,198,106 shares of the business services provider’s stock after selling 12,489 shares during the period. Wells Fargo & Company MN owned approximately 1.02% of Broadridge Financial Solutions worth $270,880,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank acquired a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at $106,904,000. Raymond James Financial Inc. acquired a new position in shares of Broadridge Financial Solutions in the fourth quarter worth about $104,466,000. Corient Private Wealth LLC increased its position in shares of Broadridge Financial Solutions by 882.9% in the fourth quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider’s stock worth $99,186,000 after acquiring an additional 392,695 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Broadridge Financial Solutions during the fourth quarter valued at approximately $25,773,000. Finally, American Century Companies Inc. lifted its position in shares of Broadridge Financial Solutions by 51.0% in the 4th quarter. American Century Companies Inc. now owns 252,984 shares of the business services provider’s stock valued at $57,197,000 after acquiring an additional 85,463 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 95,956 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $235.43, for a total value 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 trade represents a 36.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Laura Matlin sold 514 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the sale, the vice president now directly owns 6,602 shares in the company, valued at $1,595,043.20. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 124,754 shares of company stock worth $29,397,793 over the last three months. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Down 6.1 %

BR opened at $225.19 on Friday. The company has a market capitalization of $26.35 billion, a PE ratio of 35.24 and a beta of 1.06. The business has a 50-day moving average of $237.48 and a 200-day moving average of $228.66. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $247.01. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35.

Broadridge Financial Solutions (NYSE:BR) last posted 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 in the previous year, the firm earned $0.92 earnings per share. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is 55.09%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BR shares. JPMorgan Chase & Co. lifted their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Morgan Stanley upped their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, April 1st. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Finally, DA Davidson restated a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $241.00.

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.