Aviva PLC Sells 2,098 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Aviva PLC cut its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,095 shares of the business services provider’s stock after selling 2,098 shares during the quarter. Aviva PLC owned about 0.10% of Broadridge Financial Solutions worth $25,796,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BR. FMR LLC increased its position in Broadridge Financial Solutions by 9.7% during the third quarter. FMR LLC now owns 80,194 shares of the business services provider’s stock worth $17,244,000 after buying an additional 7,077 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in shares of Broadridge Financial Solutions by 4.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 4,840 shares of the business services provider’s stock worth $1,041,000 after acquiring an additional 200 shares during the period. IHT Wealth Management LLC bought a new stake in Broadridge Financial Solutions in the 3rd quarter valued at $288,000. Quantinno Capital Management LP raised its stake in Broadridge Financial Solutions by 12.1% in the 3rd quarter. Quantinno Capital Management LP now owns 11,745 shares of the business services provider’s stock valued at $2,526,000 after acquiring an additional 1,266 shares during the period. Finally, State Street Corp lifted its holdings in Broadridge Financial Solutions by 1.0% during the 3rd quarter. State Street Corp now owns 5,181,715 shares of the business services provider’s stock valued at $1,118,644,000 after purchasing an additional 51,439 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BR shares. DA Davidson reissued a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. Royal Bank of Canada upped their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Morgan Stanley increased their target price on 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. Finally, StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $241.00.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the sale, the vice president now owns 6,602 shares of the company’s stock, valued at approximately $1,595,043.20. The trade was a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $22,590,921.08. Following the completion of the transaction, 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 ownership of the stock. 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 90 days. Insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Down 6.1 %

Shares of BR opened at $225.19 on Monday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $26.35 billion, a PE ratio of 35.24 and a beta of 1.06. The firm’s 50 day moving average is $237.48 and its 200-day moving average is $228.80. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $247.01.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating the consensus estimate 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 company posted $0.92 EPS. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

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