Securian Asset Management Inc. Reduces Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Securian Asset Management Inc. trimmed its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,157 shares of the business services provider’s stock after selling 200 shares during the quarter. Securian Asset Management Inc.’s holdings in Broadridge Financial Solutions were worth $1,392,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Assetmark Inc. lifted its position in shares of Broadridge Financial Solutions by 130.0% during the third quarter. Assetmark Inc. now owns 667 shares of the business services provider’s stock worth $143,000 after purchasing an additional 377 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Broadridge Financial Solutions during the third quarter worth $529,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Broadridge Financial Solutions by 1.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 265,440 shares of the business services provider’s stock worth $57,078,000 after purchasing an additional 2,715 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its position in shares of Broadridge Financial Solutions by 13.6% during the third quarter. Ashton Thomas Private Wealth LLC now owns 3,091 shares of the business services provider’s stock worth $665,000 after purchasing an additional 371 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC bought a new stake in shares of Broadridge Financial Solutions during the third quarter worth $210,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions 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. The trade was a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brett Keller sold 5,442 shares of the business’s 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 sale, the director now owns 15,536 shares in the company, valued at $3,734,854.40. The trade was a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 124,754 shares of company stock worth $29,397,793 over the last quarter. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

BR has been the subject of several research analyst reports. Morgan Stanley lifted their target price 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. UBS Group lifted their target price on Broadridge Financial Solutions from $250.00 to $260.00 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. JPMorgan Chase & Co. lifted their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Broadridge Financial Solutions currently has an average rating of “Hold” and an average price target of $239.17.

Broadridge Financial Solutions Stock Performance

BR stock opened at $227.76 on Friday. 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 business has a 50-day moving average price of $235.43 and a 200 day moving average price of $225.77. The company has a market capitalization of $26.65 billion, a P/E ratio of 35.64 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 1-year low of $188.30 and a 1-year high of $246.58.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results 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 return on equity of 44.40% and a net margin of 11.36%. During the same period last year, the firm earned $0.92 EPS. As a group, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be paid a $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a yield of 1.55%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

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.