APG Asset Management N.V. Trims Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

APG Asset Management N.V. lowered its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 39.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,671,407 shares of the business services provider’s stock after selling 1,091,379 shares during the period. Broadridge Financial Solutions accounts for approximately 1.0% of APG Asset Management N.V.’s portfolio, making the stock its 17th biggest holding. APG Asset Management N.V.’s holdings in Broadridge Financial Solutions were worth $364,933,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. UBS Group increased their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. increased their price target on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. 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. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, April 1st. Finally, Morgan Stanley boosted their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Broadridge Financial Solutions currently has an average rating of “Hold” and an average target price of $241.00.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 95,956 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the sale, the chief executive officer now owns 169,788 shares in the company, valued at $39,973,188.84. This trade represents a 36.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the sale, the vice president now owns 6,602 shares in the company, valued at $1,595,043.20. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 124,754 shares of company stock valued at $29,397,793. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Stock Down 2.2 %

Shares of NYSE BR opened at $220.10 on Tuesday. Broadridge Financial Solutions, Inc. has a 12-month low of $188.30 and a 12-month high of $247.01. The stock has a fifty day moving average price of $237.09 and a 200 day moving average price of $228.88. 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 company has a market cap of $25.76 billion, a P/E ratio of 34.44 and a beta of 1.06.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 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 firm posted $0.92 EPS. Research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders 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 annualized dividend and a dividend yield of 1.60%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

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.