Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 896,718 shares of the business services provider’s stock after acquiring an additional 20,694 shares during the period. Bank of New York Mellon Corp’s holdings in Broadridge Financial Solutions were worth $202,739,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BR. CWS Financial Advisors LLC raised its stake in Broadridge Financial Solutions by 54.6% during the 4th quarter. CWS Financial Advisors LLC now owns 1,911 shares of the business services provider’s stock valued at $432,000 after acquiring an additional 675 shares in the last quarter. Crestwood Advisors Group LLC bought a new stake in shares of Broadridge Financial Solutions during the fourth quarter valued at about $206,000. Union Bancaire Privee UBP SA bought a new stake in shares of Broadridge Financial Solutions during the fourth quarter valued at about $2,328,000. MONECO Advisors LLC lifted its holdings in Broadridge Financial Solutions by 14.6% in the fourth quarter. MONECO Advisors LLC now owns 1,795 shares of the business services provider’s stock worth $406,000 after purchasing an additional 229 shares during the period. Finally, Wealthspire Advisors LLC bought a new position in Broadridge Financial Solutions in the 4th quarter valued at about $225,000. 90.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BR has been the subject of a number of research analyst reports. Morgan Stanley upped their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. upped their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. UBS Group lifted their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Finally, Royal Bank of Canada lifted their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $239.17.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR opened at $237.17 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. The company has a market capitalization of $27.75 billion, a PE ratio of 37.12 and a beta of 1.08. The stock has a fifty day moving average of $233.55 and a 200-day moving average of $223.96. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $244.47.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly 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 last year, the business posted $0.92 earnings per share. As a group, equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 55.09%.

Insider Activity

In other news, VP Laura Matlin sold 514 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the transaction, the vice president now owns 6,602 shares in the company, valued at $1,595,043.20. This represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas P. Carey sold 15,710 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the sale, the vice president now owns 12,146 shares of the company’s stock, valued at approximately $2,797,466.72. This represents a 56.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,666 shares of company stock worth $5,050,766 over the last 90 days. 1.30% of the stock is owned by company insiders.

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.