Oarsman Capital Inc. Sells 335 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Oarsman Capital Inc. reduced its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 35.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 600 shares of the business services provider’s stock after selling 335 shares during the quarter. Oarsman Capital Inc.’s holdings in Broadridge Financial Solutions were worth $136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank bought a new stake in Broadridge Financial Solutions in the 4th quarter worth approximately $106,904,000. Raymond James Financial Inc. purchased a new position in shares of Broadridge Financial Solutions in the 4th quarter worth $104,466,000. Corient Private Wealth LLC grew its holdings 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 during the period. Proficio Capital Partners LLC purchased a new stake in Broadridge Financial Solutions during the fourth quarter valued at $25,773,000. Finally, American Century Companies Inc. lifted its holdings in Broadridge Financial Solutions by 51.0% in the fourth 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 during the period. 90.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Morgan Stanley increased 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 report on Monday, February 3rd. JPMorgan Chase & Co. boosted 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 report on Monday, February 3rd. Finally, UBS Group raised their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Broadridge Financial Solutions currently has an average rating of “Hold” and a consensus price target of $241.00.

Broadridge Financial Solutions Trading Down 6.1 %

Shares of Broadridge Financial Solutions stock opened at $225.19 on Friday. 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 quick ratio of 1.35 and a current ratio of 1.35. The company has a market capitalization of $26.35 billion, a P/E ratio of 35.24 and a beta of 1.06. The company has a fifty day moving average of $237.48 and a 200 day moving average of $228.66.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period last year, the business earned $0.92 earnings per share. On average, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction that occurred on 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 owns 169,788 shares of the company’s stock, valued at $39,973,188.84. The trade was a 36.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Christopher John Perry sold 22,357 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $235.23, for a total value of $5,259,037.11. Following the transaction, the president now owns 52,524 shares of the company’s stock, valued at $12,355,220.52. This represents a 29.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 124,754 shares of company stock worth $29,397,793. 1.30% of the stock is owned by insiders.

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.