Voya Investment Management LLC Lowers Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Voya Investment Management LLC reduced its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 17.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 106,782 shares of the business services provider’s stock after selling 22,519 shares during the period. Voya Investment Management LLC’s holdings in Broadridge Financial Solutions were worth $24,142,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Fortitude Family Office LLC grew its stake in Broadridge Financial Solutions by 246.7% during the fourth 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 in the last quarter. Global X Japan Co. Ltd. bought a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at about $41,000. Curio Wealth LLC bought a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at about $45,000. Salem Investment Counselors Inc. grew its position in shares of Broadridge Financial Solutions by 200.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 225 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 150 shares in the last quarter. Finally, Promus Capital LLC purchased a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth about $52,000. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

BR stock opened at $237.81 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $247.01. The stock has a market cap of $27.83 billion, a PE ratio of 37.22 and a beta of 1.06. The company has a 50-day moving average price of $234.53 and a 200 day moving average price of $230.73.

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 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 quarter in the previous year, the business earned $0.92 EPS. Equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current 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 paid a $0.88 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.48%. Broadridge Financial Solutions’s payout ratio is 55.09%.

Analysts Set New Price Targets

Several research firms have weighed in on BR. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, April 22nd. JPMorgan Chase & Co. upped their price target 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. Royal Bank of Canada upped their target price on shares of 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 lifted their price target on 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. Finally, DA Davidson restated a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $241.00.

Insider Transactions at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 95,956 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 legal filing with the SEC, which can be accessed through this link. Also, Director Robert N. Duelks sold 485 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $237.93, for a total value of $115,396.05. Following the completion of the sale, the director now owns 4,960 shares of the company’s stock, valued at $1,180,132.80. The trade was a 8.91 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,754 shares of company stock worth $29,397,793. 1.30% of the stock is currently 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.