Broadridge Financial Solutions, Inc. (NYSE:BR) Stock Holdings Cut by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,814 shares of the business services provider’s stock after selling 297 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Broadridge Financial Solutions were worth $4,932,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BR. True Wealth Design LLC boosted its stake in Broadridge Financial Solutions by 2,028.6% during the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 142 shares in the last quarter. Fortitude Family Office LLC boosted its stake in shares of Broadridge Financial Solutions by 246.7% during the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after acquiring an additional 111 shares in the last quarter. FSA Wealth Management LLC bought a new stake in shares of Broadridge Financial Solutions during the 3rd quarter worth $39,000. Global X Japan Co. Ltd. bought a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth $41,000. Finally, Truvestments Capital LLC bought a new stake in shares of Broadridge Financial Solutions during the 3rd quarter worth $45,000. 90.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Broadridge Financial Solutions news, Director Brett Keller sold 5,442 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the transaction, the director now directly owns 15,536 shares in the company, valued at $3,734,854.40. This trade represents a 25.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert N. Duelks sold 485 shares of the firm’s 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 approximately $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. Over the last ninety days, insiders sold 124,754 shares of company stock worth $29,397,793. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR opened at $231.11 on Wednesday. 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 1 year low of $188.30 and a 1 year high of $246.58. The business has a fifty day simple moving average of $235.61 and a 200 day simple moving average of $226.37. The firm has a market cap of $27.04 billion, a price-to-earnings ratio of 36.17 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the business earned $0.92 earnings per share. As a group, sell-side analysts predict 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 disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.52%. Broadridge Financial Solutions’s dividend payout ratio is 55.09%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. DA Davidson reissued a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Morgan Stanley raised their price objective 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. JPMorgan Chase & Co. increased their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $239.17.

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.