Nuveen Asset Management LLC Has $87.77 Million Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Nuveen Asset Management LLC cut its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 21.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 388,189 shares of the business services provider’s stock after selling 106,457 shares during the quarter. Nuveen Asset Management LLC owned 0.33% of Broadridge Financial Solutions worth $87,766,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in BR. SeaCrest Wealth Management LLC acquired a new position in Broadridge Financial Solutions in the fourth quarter valued at approximately $234,000. Park Avenue Securities LLC lifted its stake in Broadridge Financial Solutions by 37.3% in the fourth quarter. Park Avenue Securities LLC now owns 10,136 shares of the business services provider’s stock valued at $2,292,000 after buying an additional 2,755 shares during the period. Avanza Fonder AB acquired a new position in Broadridge Financial Solutions in the fourth quarter valued at approximately $1,675,000. Merit Financial Group LLC lifted its stake in Broadridge Financial Solutions by 33.2% in the fourth quarter. Merit Financial Group LLC now owns 7,863 shares of the business services provider’s stock valued at $1,778,000 after buying an additional 1,959 shares during the period. Finally, HB Wealth Management LLC lifted its stake in Broadridge Financial Solutions by 35.3% in the fourth quarter. HB Wealth Management LLC now owns 2,957 shares of the business services provider’s stock valued at $669,000 after buying an additional 771 shares during the period. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Trading Up 0.4%

Shares of Broadridge Financial Solutions stock opened at $241.32 on Friday. The stock has a fifty day simple moving average of $234.22 and a 200 day simple moving average of $232.75. Broadridge Financial Solutions, Inc. has a 12-month low of $192.68 and a 12-month high of $247.01. The company has a market capitalization of $28.35 billion, a P/E ratio of 37.76 and a beta of 0.98. 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 (NYSE:BR) last announced its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.03. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.23 EPS. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be paid a dividend of $0.88 per share. The ex-dividend date is Thursday, June 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.46%. Broadridge Financial Solutions’s payout ratio is 52.93%.

Insider Buying and Selling

In other news, VP Thomas P. Carey sold 3,607 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $237.26, for a total transaction of $855,796.82. Following the transaction, the vice president now directly owns 6,077 shares in the company, valued at approximately $1,441,829.02. This represents a 37.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert N. Duelks sold 485 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $237.93, for a total value of $115,396.05. Following the transaction, the director now owns 4,960 shares in the company, valued at $1,180,132.80. This trade represents a 8.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 123,473 shares of company stock valued at $29,072,366. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. DA Davidson reaffirmed a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. JPMorgan Chase & Co. upped their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. UBS Group upped their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Needham & Company LLC assumed coverage on Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a “buy” rating and a $300.00 target price on the stock. Finally, StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $250.83.

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.