Great Lakes Advisors LLC Trims Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Great Lakes Advisors LLC trimmed its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,634 shares of the business services provider’s stock after selling 742 shares during the period. Great Lakes Advisors LLC’s holdings in Broadridge Financial Solutions were worth $6,474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Broadridge Financial Solutions during the fourth quarter valued at $104,466,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Broadridge Financial Solutions during the 3rd quarter worth about $44,746,000. Benjamin Edwards Inc. increased its position in Broadridge Financial Solutions by 2,302.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 147,004 shares of the business services provider’s stock valued at $31,618,000 after purchasing an additional 140,886 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at about $25,773,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Broadridge Financial Solutions by 97.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 198,878 shares of the business services provider’s stock worth $42,765,000 after purchasing an additional 98,275 shares during the period. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Trading Up 0.1 %

Shares of NYSE:BR opened at $225.33 on Friday. The business’s 50-day moving average is $235.46 and its 200 day moving average is $225.77. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $246.58. The firm has a market capitalization of $26.37 billion, a P/E ratio of 35.26 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share (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 quarter in the prior year, the company earned $0.92 EPS. On average, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

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 paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.56%. Broadridge Financial Solutions’s payout ratio is currently 55.09%.

Insider Activity

In other news, Director Robert N. Duelks sold 485 shares of the firm’s stock in a transaction dated 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 directly owns 4,960 shares in the company, valued at $1,180,132.80. This trade represents a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Timothy C. Gokey sold 95,956 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $235.43, for a total value of $22,590,921.08. Following the completion of the sale, the chief executive officer now owns 169,788 shares in the company, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 124,754 shares of company stock valued at $29,397,793 over the last ninety days. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BR has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Morgan Stanley boosted their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. DA Davidson reaffirmed a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. UBS Group boosted their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.