Advisors Asset Management Inc. Sells 1,270 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Advisors Asset Management Inc. trimmed its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,471 shares of the business services provider’s stock after selling 1,270 shares during the quarter. Advisors Asset Management Inc. owned approximately 0.05% of Broadridge Financial Solutions worth $14,124,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its stake in Broadridge Financial Solutions by 2,028.6% during the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after buying an additional 142 shares during the last quarter. Fortitude Family Office LLC grew its stake in Broadridge Financial Solutions by 246.7% during 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. FSA Wealth Management LLC bought a new stake in Broadridge Financial Solutions during the third quarter worth about $39,000. Global X Japan Co. Ltd. bought a new stake in Broadridge Financial Solutions during the fourth quarter worth about $41,000. Finally, Truvestments Capital LLC acquired a new position in shares of Broadridge Financial Solutions during the third quarter worth approximately $45,000. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Trading Up 1.6 %

Shares of NYSE BR opened at $231.21 on Tuesday. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $246.58. 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 firm has a market capitalization of $27.06 billion, a P/E ratio of 36.18 and a beta of 1.05. The company’s 50 day simple moving average is $235.52 and its 200 day simple moving average is $226.24.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating the consensus estimate 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 in the prior year, the firm earned $0.92 earnings per share. On average, 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 disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio is 55.09%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. JPMorgan Chase & Co. upped 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. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. DA Davidson reiterated a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Finally, UBS Group upped their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $239.17.

Insider Transactions at Broadridge Financial Solutions

In related news, Director Brett Keller sold 5,442 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $240.40, for a total value of $1,308,256.80. Following the completion of the transaction, the director now owns 15,536 shares of the company’s stock, valued at approximately $3,734,854.40. This trade represents a 25.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert N. Duelks sold 485 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $237.93, for a total transaction of $115,396.05. Following the completion of the transaction, the director now directly owns 4,960 shares of the company’s stock, valued at approximately $1,180,132.80. This trade represents a 8.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 124,754 shares of company stock valued at $29,397,793 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

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.