Broadridge Financial Solutions, Inc. (NYSE:BR) Stock Holdings Cut by TIAA Trust National Association

TIAA Trust National Association lessened its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,866 shares of the business services provider’s stock after selling 63 shares during the quarter. TIAA Trust National Association’s holdings in Broadridge Financial Solutions were worth $1,100,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BR. Thrivent Financial for Lutherans raised its position in Broadridge Financial Solutions by 24.5% in the third quarter. Thrivent Financial for Lutherans now owns 6,204 shares of the business services provider’s stock worth $1,335,000 after acquiring an additional 1,219 shares in the last quarter. Great Valley Advisor Group Inc. bought a new stake in shares of Broadridge Financial Solutions in the 3rd quarter worth approximately $204,000. Cerity Partners LLC lifted its stake in Broadridge Financial Solutions by 58.1% during the third quarter. Cerity Partners LLC now owns 21,914 shares of the business services provider’s stock valued at $4,713,000 after purchasing an additional 8,051 shares during the last quarter. Algert Global LLC bought a new stake in Broadridge Financial Solutions during the third quarter worth approximately $542,000. Finally, Swedbank AB grew its position in Broadridge Financial Solutions by 2.9% in the third quarter. Swedbank AB now owns 25,135 shares of the business services provider’s stock worth $5,405,000 after buying an additional 715 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Up 0.4 %

Shares of Broadridge Financial Solutions stock opened at $239.12 on Friday. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $246.58. The company has a market cap of $27.98 billion, a P/E ratio of 37.42 and a beta of 1.05. 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 50-day moving average price of $236.82 and a 200 day moving average price of $227.38.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates 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 prior year, the business posted $0.92 EPS. As a group, analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 55.09%.

Insider Activity

In related news, VP Laura Matlin sold 514 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the transaction, the vice president now owns 6,602 shares of the company’s stock, valued at approximately $1,595,043.20. This trade represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy C. Gokey sold 95,956 shares of the business’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 transaction of $22,590,921.08. Following the completion of the sale, the chief executive officer now directly owns 169,788 shares of the company’s stock, valued at $39,973,188.84. This represents a 36.11 % 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 worth $29,397,793 in the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BR shares. DA Davidson reissued a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Royal Bank of Canada increased their price target on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. UBS Group upped their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Broadridge Financial Solutions currently has an average rating of “Hold” and an average target price of $241.00.

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.