ING Groep NV Sells 3,680 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

ING Groep NV cut its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.9% in the 4th quarter, HoldingsChannel reports. The fund owned 49,389 shares of the business services provider’s stock after selling 3,680 shares during the period. ING Groep NV’s holdings in Broadridge Financial Solutions were worth $11,166,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Qsemble Capital Management LP bought a new stake in Broadridge Financial Solutions in the 3rd quarter worth about $1,412,000. Atria Investments Inc grew its position in Broadridge Financial Solutions by 9.7% in the 3rd quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock worth $6,373,000 after purchasing an additional 2,610 shares in the last quarter. Horizon Kinetics Asset Management LLC bought a new stake in Broadridge Financial Solutions in the 3rd quarter worth about $483,000. Thurston Springer Miller Herd & Titak Inc. grew its position in Broadridge Financial Solutions by 53.5% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock worth $2,434,000 after purchasing an additional 3,753 shares in the last quarter. Finally, Miracle Mile Advisors LLC grew its position in Broadridge Financial Solutions by 98.0% in the 4th quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider’s stock worth $550,000 after purchasing an additional 1,204 shares in the last quarter. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $236.14 on Friday. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $244.47. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a market capitalization of $27.63 billion, a PE ratio of 36.95 and a beta of 1.08. The company’s 50 day simple moving average is $232.75 and its two-hundred day simple moving average is $223.18.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, topping 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 period last year, the business posted $0.92 EPS. Analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is 55.09%.

Insider Transactions at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 15,710 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the transaction, the vice president now owns 12,146 shares of the company’s stock, valued at approximately $2,797,466.72. This trade represents a 56.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brett Keller sold 5,442 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the transaction, the director now directly owns 15,536 shares in the company, valued at approximately $3,734,854.40. This represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,666 shares of company stock valued at $5,050,766 in the last quarter. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

BR has been the topic of a number of research analyst reports. UBS Group boosted their target price 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. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price 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. DA Davidson restated a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada upped their price target on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $239.17.

Broadridge Financial Solutions Company 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.