Broadridge Financial Solutions, Inc. $BR Shares Sold by Prudential PLC

Prudential PLC decreased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 19.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 39,090 shares of the business services provider’s stock after selling 9,412 shares during the quarter. Prudential PLC’s holdings in Broadridge Financial Solutions were worth $9,500,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in BR. Brighton Jones LLC acquired a new position in shares of Broadridge Financial Solutions in the fourth quarter worth $580,000. IFP Advisors Inc boosted its holdings in Broadridge Financial Solutions by 26.1% in the first quarter. IFP Advisors Inc now owns 1,876 shares of the business services provider’s stock valued at $455,000 after purchasing an additional 388 shares during the period. Teachers Retirement System of The State of Kentucky grew its stake in Broadridge Financial Solutions by 3.0% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 8,992 shares of the business services provider’s stock worth $2,180,000 after purchasing an additional 264 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Broadridge Financial Solutions by 42.2% during the 1st quarter. Allianz Asset Management GmbH now owns 33,780 shares of the business services provider’s stock worth $8,190,000 after purchasing an additional 10,033 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH raised its position in Broadridge Financial Solutions by 1.3% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 113,026 shares of the business services provider’s stock valued at $27,404,000 after purchasing an additional 1,419 shares in the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Timothy C. Gokey sold 5,674 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $258.37, for a total value of $1,465,991.38. Following the completion of the sale, the chief executive officer directly owned 143,285 shares of the company’s stock, valued at approximately $37,020,545.45. This represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Christopher John Perry sold 3,984 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $226.00, for a total transaction of $900,384.00. Following the completion of the transaction, the president directly owned 44,829 shares in the company, valued at $10,131,354. The trade was a 8.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Stock Up 0.5%

Shares of NYSE:BR opened at $227.48 on Friday. The firm has a 50 day simple moving average of $231.64 and a 200-day simple moving average of $241.00. Broadridge Financial Solutions, Inc. has a twelve month low of $212.33 and a twelve month high of $271.91. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $26.55 billion, a PE ratio of 29.13 and a beta of 0.96.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. Broadridge Financial Solutions had a net margin of 13.11% and a return on equity of 43.28%. The firm had revenue of $1.05 billion for the quarter. On average, equities analysts predict 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 will be paid on Monday, January 5th. Investors of record on Friday, December 12th will be given a $0.975 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $3.90 dividend on an annualized basis and a dividend yield of 1.7%. Broadridge Financial Solutions’s dividend payout ratio is 49.94%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BR shares. Needham & Company LLC boosted their price objective on Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. DA Davidson reiterated a “neutral” rating and issued a $240.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, October 28th. UBS Group dropped their price objective on shares of Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, November 13th. Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Monday. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Hold” and an average target price of $259.83.

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.