Intech Investment Management LLC Sells 18,321 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Intech Investment Management LLC lowered its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 34.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 34,150 shares of the business services provider’s stock after selling 18,321 shares during the period. Intech Investment Management LLC’s holdings in Broadridge Financial Solutions were worth $7,721,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of BR. State Street Corp grew its holdings in Broadridge Financial Solutions by 1.0% in the third quarter. State Street Corp now owns 5,181,715 shares of the business services provider’s stock worth $1,118,644,000 after purchasing an additional 51,439 shares during the period. Geode Capital Management LLC boosted its position in shares of Broadridge Financial Solutions by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider’s stock worth $643,018,000 after purchasing an additional 15,208 shares in the last quarter. Stifel Financial Corp grew its stake in shares of Broadridge Financial Solutions by 0.4% in the 3rd quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider’s stock worth $342,856,000 after buying an additional 5,813 shares during the last quarter. Bahl & Gaynor Inc. increased its position in Broadridge Financial Solutions by 2.7% during the 4th quarter. Bahl & Gaynor Inc. now owns 1,129,824 shares of the business services provider’s stock valued at $255,442,000 after buying an additional 29,483 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Broadridge Financial Solutions by 2.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider’s stock valued at $194,585,000 after buying an additional 20,775 shares during the last quarter. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

NYSE BR opened at $231.11 on Wednesday. The company has a 50-day moving average price of $235.61 and a 200-day moving average price of $226.37. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $246.58. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $27.04 billion, a P/E ratio of 36.17 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same quarter in the previous year, the company earned $0.92 earnings per share. Equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is 55.09%.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of the stock in a transaction 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 completion of the sale, the vice president now owns 6,602 shares in the company, valued at approximately $1,595,043.20. This represents a 7.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Timothy C. Gokey sold 95,956 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $235.43, for a total value of $22,590,921.08. Following the completion of the transaction, the chief executive officer now owns 169,788 shares in the company, valued at $39,973,188.84. The trade was a 36.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 124,754 shares of company stock worth $29,397,793. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

BR has been the subject of several analyst reports. Royal Bank of Canada raised their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. raised their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Morgan Stanley raised their price target on shares of 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. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Broadridge Financial Solutions presently has an average rating of “Hold” and an average price target of $239.17.

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.