Union Bancaire Privee UBP SA Lowers Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Union Bancaire Privee UBP SA lessened its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 62.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,869 shares of the business services provider’s stock after selling 6,415 shares during the period. Union Bancaire Privee UBP SA’s holdings in Broadridge Financial Solutions were worth $924,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Broadridge Financial Solutions by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 14,294,766 shares of the business services provider’s stock worth $3,231,904,000 after purchasing an additional 74,674 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Broadridge Financial Solutions by 50.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider’s stock worth $804,952,000 after purchasing an additional 1,186,555 shares during the period. Geode Capital Management LLC lifted its position in shares of Broadridge Financial Solutions by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 3,037,015 shares of the business services provider’s stock worth $684,971,000 after purchasing an additional 37,141 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Broadridge Financial Solutions by 2.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,649,761 shares of the business services provider’s stock valued at $378,175,000 after acquiring an additional 43,533 shares during the last quarter. Finally, Barclays PLC lifted its position in Broadridge Financial Solutions by 2.5% during the fourth quarter. Barclays PLC now owns 1,648,527 shares of the business services provider’s stock valued at $372,713,000 after acquiring an additional 40,506 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Trading Down 0.6%

Shares of Broadridge Financial Solutions stock opened at $239.76 on Friday. 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 12-month low of $192.68 and a 12-month high of $247.01. The firm has a market capitalization of $28.16 billion, a price-to-earnings ratio of 37.52 and a beta of 0.96. The firm’s 50 day simple moving average is $236.97 and its two-hundred day simple moving average is $235.04.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.03. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the business posted $2.23 EPS. Broadridge Financial Solutions’s revenue for the quarter was up 5.0% compared to the same quarter last year. Analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a yield of 1.47%. Broadridge Financial Solutions’s payout ratio is 52.93%.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, insider Hope M. Jarkowski sold 1,068 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total transaction of $251,214.96. Following the completion of the transaction, the insider now owns 1,070 shares of the company’s stock, valued at $251,685.40. This trade represents a 49.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Maura A. Markus sold 3,556 shares of the firm’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $243.08, for a total transaction of $864,392.48. Following the transaction, the director now directly owns 30,892 shares of the company’s stock, valued at approximately $7,509,227.36. This trade represents a 10.32% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,116 shares of company stock worth $4,352,298. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on BR shares. Needham & Company LLC started coverage on shares of Broadridge Financial Solutions in a research report on Tuesday, May 6th. They set a “buy” rating and a $300.00 target price for the company. Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $259.00 target price on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $250.83.

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.