Broadridge Financial Solutions, Inc. (NYSE:BR) Stake Trimmed by Bank of America Corp DE

Bank of America Corp DE trimmed its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 14.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 596,533 shares of the business services provider’s stock after selling 97,074 shares during the period. Bank of America Corp DE’s holdings in Broadridge Financial Solutions were worth $134,870,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Curio Wealth LLC purchased a new position in Broadridge Financial Solutions during the 4th quarter worth approximately $45,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Broadridge Financial Solutions by 53.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock worth $2,434,000 after buying an additional 3,753 shares during the period. Miracle Mile Advisors LLC grew its holdings in shares of Broadridge Financial Solutions by 98.0% during the fourth quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider’s stock valued at $550,000 after buying an additional 1,204 shares in the last quarter. Park Place Capital Corp raised its position in Broadridge Financial Solutions by 31.3% during the fourth quarter. Park Place Capital Corp now owns 5,831 shares of the business services provider’s stock valued at $1,318,000 after buying an additional 1,391 shares during the period. Finally, Crown Oak Advisors LLC lifted its stake in Broadridge Financial Solutions by 10.8% in the 4th quarter. Crown Oak Advisors LLC now owns 36,376 shares of the business services provider’s stock worth $8,224,000 after acquiring an additional 3,553 shares in the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Broadridge Financial Solutions

In related news, Director Robert N. Duelks sold 485 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $237.93, for a total transaction of $115,396.05. Following the completion of the sale, the director now owns 4,960 shares in the company, valued at $1,180,132.80. This represents a 8.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy C. Gokey sold 95,956 shares of the company’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 value of $22,590,921.08. Following the transaction, the chief executive officer now 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 disclosure for this sale can be found here. Over the last three months, insiders sold 119,866 shares of company stock worth $28,216,569. 1.30% of the stock is owned by insiders.

Broadridge Financial Solutions Trading Up 0.4 %

Shares of NYSE:BR opened at $236.92 on Friday. Broadridge Financial Solutions, Inc. has a 1 year low of $192.68 and a 1 year high of $247.01. The firm has a fifty day moving average price of $233.94 and a 200 day moving average price of $231.78. 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 stock has a market capitalization of $27.83 billion, a PE ratio of 37.08 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.03. The business had revenue of $1.81 billion for 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 firm’s revenue was up 5.0% compared to the same quarter last year. During the same period last year, the business earned $2.23 EPS. Analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on BR shares. JPMorgan Chase & Co. lifted their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Morgan Stanley upped their price objective on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday. Needham & Company LLC assumed coverage on shares of Broadridge Financial Solutions in a research note on Tuesday. They issued a “buy” rating and a $300.00 price target on the stock. Finally, DA Davidson reissued 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.