Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lowered its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 10.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,948 shares of the business services provider’s stock after selling 345 shares during the quarter. OLD National Bancorp IN’s holdings in Broadridge Financial Solutions were worth $607,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nordea Investment Management AB grew its holdings in shares of Broadridge Financial Solutions by 680.1% during the fourth quarter. Nordea Investment Management AB now owns 85,325 shares of the business services provider’s stock worth $17,584,000 after buying an additional 74,387 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth about $227,750,000. Crown Oak Advisors LLC purchased a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth about $7,032,000. Comerica Bank purchased a new stake in Broadridge Financial Solutions in the third quarter valued at approximately $8,116,000. Finally, Cornercap Investment Counsel Inc. acquired a new position in Broadridge Financial Solutions during the fourth quarter worth approximately $1,089,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 12,200 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the transaction, the insider now owns 32,480 shares of the company’s stock, valued at approximately $6,648,980.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP Thomas P. Carey sold 12,731 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total value of $2,559,185.62. Following the transaction, the vice president now owns 13,303 shares of the company’s stock, valued at approximately $2,674,169.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas Richard Deschutter sold 12,200 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the completion of the transaction, the insider now owns 32,480 shares of the company’s stock, valued at $6,648,980.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,483 shares of company stock valued at $9,745,637. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BR shares. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Royal Bank of Canada increased their price objective on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Raymond James increased their price objective on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Evercore ISI reissued an “outperform” rating and issued a $230.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Finally, DA Davidson restated a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Broadridge Financial Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $206.67.

Broadridge Financial Solutions Trading Down 0.4 %

Broadridge Financial Solutions stock opened at $195.08 on Thursday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.40 and a current ratio of 1.40. Broadridge Financial Solutions, Inc. has a 1 year low of $139.52 and a 1 year high of $210.24. The firm’s 50-day moving average is $200.70 and its 200-day moving average is $194.45. The company has a market cap of $22.97 billion, a P/E ratio of 33.99 and a beta of 0.99.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Thursday, February 1st. The business services provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter last year, the company earned $0.91 EPS. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a dividend of $0.80 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.20 annualized dividend and a yield of 1.64%. Broadridge Financial Solutions’s payout ratio is 55.75%.

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.