Motley Fool Asset Management LLC Sells 6,118 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Motley Fool Asset Management LLC cut its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 13.2% in the fourth quarter, HoldingsChannel reports. The firm owned 40,395 shares of the business services provider’s stock after selling 6,118 shares during the period. Motley Fool Asset Management LLC’s holdings in Broadridge Financial Solutions were worth $9,133,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC lifted its position in shares of Broadridge Financial Solutions by 246.7% in the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after buying an additional 111 shares during the last quarter. Global X Japan Co. Ltd. acquired a new stake in Broadridge Financial Solutions in the 4th quarter worth approximately $41,000. Curio Wealth LLC acquired a new stake in Broadridge Financial Solutions in the 4th quarter worth approximately $45,000. Salem Investment Counselors Inc. boosted its position in Broadridge Financial Solutions by 200.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 225 shares of the business services provider’s stock worth $51,000 after purchasing an additional 150 shares during the period. Finally, Promus Capital LLC acquired a new position in Broadridge Financial Solutions during the fourth quarter valued at approximately $52,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $246.68 on Thursday. The firm’s 50-day moving average is $237.66 and its 200-day moving average is $228.36. The company has a market cap of $28.87 billion, a price-to-earnings ratio of 38.60 and a beta of 1.05. 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, Inc. has a 52-week low of $188.30 and a 52-week high of $247.01.

Broadridge Financial Solutions (NYSE:BR) last issued 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 quarter last year, the business earned $0.92 EPS. Equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.43%. Broadridge Financial Solutions’s payout ratio is 55.09%.

Insider Buying and Selling

In related news, President Christopher John Perry sold 22,357 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $235.23, for a total value of $5,259,037.11. Following the completion of the transaction, the president now owns 52,524 shares of the company’s stock, valued at $12,355,220.52. This represents a 29.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy C. Gokey sold 95,956 shares of Broadridge Financial Solutions stock in a transaction that occurred on 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 sale, the chief executive officer now directly 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. Insiders sold a total of 124,754 shares of company stock valued at $29,397,793 over the last ninety days. 1.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BR. JPMorgan Chase & Co. boosted their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday. Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. UBS Group lifted their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley increased their target price on 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. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $241.00.

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.