Quarry LP Decreases Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Quarry LP cut its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 16.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 670 shares of the business services provider’s stock after selling 132 shares during the quarter. Quarry LP’s holdings in Broadridge Financial Solutions were worth $151,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC boosted its stake in 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 valued at $35,000 after acquiring an additional 111 shares during the last quarter. Global X Japan Co. Ltd. bought a new position in Broadridge Financial Solutions during the 4th quarter valued at $41,000. Curio Wealth LLC acquired a new stake 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 fourth quarter. Salem Investment Counselors Inc. now owns 225 shares of the business services provider’s stock valued at $51,000 after acquiring an additional 150 shares during the period. Finally, Promus Capital LLC acquired a new position in Broadridge Financial Solutions in the fourth quarter valued at approximately $52,000. 90.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BR has been the subject of a number of research reports. UBS Group lifted their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Morgan Stanley boosted their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. DA Davidson reiterated a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price objective 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. Finally, Royal Bank of Canada upped their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $241.00.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Laura Matlin sold 514 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the transaction, the vice president now directly owns 6,602 shares of the company’s stock, valued at approximately $1,595,043.20. This represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brett Keller sold 5,442 shares of the company’s stock in a transaction on 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 completion of 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 disclosure for this sale can be found here. Insiders have sold a total of 124,754 shares of company stock valued at $29,397,793 in the last three months. 1.30% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Price Performance

NYSE BR opened at $237.31 on Tuesday. The stock has a market capitalization of $27.77 billion, a P/E ratio of 37.14 and a beta of 1.06. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $247.01. The business’s fifty day moving average is $234.50 and its two-hundred day moving average is $230.94. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the company earned $0.92 EPS. On average, research analysts forecast 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 announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 55.09%.

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.