Broadridge Financial Solutions, Inc. (NYSE:BR) Holdings Cut by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. decreased its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.5% during the 4th quarter, HoldingsChannel reports. The firm owned 24,660 shares of the business services provider’s stock after selling 121 shares during the period. Cullen Frost Bankers Inc.’s holdings in Broadridge Financial Solutions were worth $5,575,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BR. Van ECK Associates Corp increased its position in Broadridge Financial Solutions by 11.0% in the third quarter. Van ECK Associates Corp now owns 20,967 shares of the business services provider’s stock worth $4,536,000 after buying an additional 2,079 shares during the period. Asset Management One Co. Ltd. grew its position in shares of Broadridge Financial Solutions by 14.4% during the third quarter. Asset Management One Co. Ltd. now owns 52,361 shares of the business services provider’s stock worth $11,259,000 after acquiring an additional 6,608 shares during the last quarter. QRG Capital Management Inc. increased its holdings in shares of Broadridge Financial Solutions by 7.3% in the 3rd quarter. QRG Capital Management Inc. now owns 7,293 shares of the business services provider’s stock worth $1,568,000 after acquiring an additional 498 shares during the period. Amalgamated Bank lifted its position in Broadridge Financial Solutions by 4.6% in the 3rd quarter. Amalgamated Bank now owns 26,418 shares of the business services provider’s stock valued at $5,681,000 after purchasing an additional 1,152 shares during the last quarter. Finally, Concurrent Investment Advisors LLC boosted its stake in Broadridge Financial Solutions by 5.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 8,838 shares of the business services provider’s stock valued at $1,900,000 after purchasing an additional 425 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Buying and Selling

In related news, Director Robert N. Duelks sold 485 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $237.93, for a total value of $115,396.05. Following the completion of the transaction, the director now owns 4,960 shares in the company, valued at $1,180,132.80. This trade represents a 8.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Brett Keller sold 5,442 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, February 6th. The stock was 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 directly owns 15,536 shares in the company, valued at $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 6,441 shares of company stock worth $1,547,835 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Stock Down 1.9 %

Shares of BR stock opened at $237.79 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 debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. The business’s fifty day moving average is $234.85 and its 200-day moving average is $224.98. The stock has a market cap of $27.83 billion, a PE ratio of 37.21 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping 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 quarter last year, the company earned $0.92 EPS. Equities analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 13th will be issued a $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.48%. Broadridge Financial Solutions’s payout ratio is currently 55.09%.

Analyst Ratings Changes

Several brokerages have commented on BR. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Morgan Stanley raised their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. boosted their price target 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 increased their price target 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, Royal Bank of Canada lifted their price objective 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. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Broadridge Financial Solutions currently has an average rating of “Hold” and a consensus target price of $239.17.

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.