Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by World Asset Management Inc

World Asset Management Inc lowered its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 7,836 shares of the business services provider’s stock after selling 299 shares during the quarter. World Asset Management Inc’s holdings in Broadridge Financial Solutions were worth $754,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Broadridge Financial Solutions by 1.3% during the 3rd quarter. BlackRock Inc. now owns 10,231,132 shares of the business services provider’s stock valued at $1,349,998,000 after acquiring an additional 134,591 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Broadridge Financial Solutions by 1.3% in the third quarter. Janus Henderson Group PLC now owns 6,193,580 shares of the business services provider’s stock valued at $817,243,000 after acquiring an additional 77,517 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Broadridge Financial Solutions by 71.4% during the 3rd quarter. AQR Capital Management LLC now owns 1,995,511 shares of the business services provider’s stock worth $263,308,000 after buying an additional 831,086 shares during the period. Wells Fargo & Company MN boosted its stake in Broadridge Financial Solutions by 32.0% during the third quarter. Wells Fargo & Company MN now owns 1,950,097 shares of the business services provider’s stock worth $257,315,000 after acquiring an additional 472,524 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Broadridge Financial Solutions by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 1,240,130 shares of the business services provider’s stock valued at $163,634,000 after acquiring an additional 10,581 shares during the period. Hedge funds and other institutional investors own 87.11% of the company’s stock.

NYSE BR opened at $99.74 on Thursday. Broadridge Financial Solutions, Inc. has a 52 week low of $91.34 and a 52 week high of $138.24. The stock has a market cap of $11.50 billion, a PE ratio of 23.80, a price-to-earnings-growth ratio of 2.10 and a beta of 0.84. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.06.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Thursday, February 7th. The business services provider reported $0.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.15). Broadridge Financial Solutions had a net margin of 10.25% and a return on equity of 43.95%. The firm had revenue of $953.40 million for the quarter, compared to the consensus estimate of $967.21 million. During the same quarter last year, the company earned $0.79 earnings per share. The firm’s revenue was down 5.9% on a year-over-year basis. Sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 4.65 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 3rd. Investors of record on Friday, March 15th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio is currently 46.30%.

In related news, Director Stuart R. Levine sold 8,902 shares of the firm’s stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $98.75, for a total transaction of $879,072.50. Following the completion of the sale, the director now owns 36,530 shares in the company, valued at $3,607,337.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.30% of the stock is currently owned by corporate insiders.

Several equities analysts have recently commented on BR shares. Zacks Investment Research raised Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, January 23rd. Rosenblatt Securities assumed coverage on Broadridge Financial Solutions in a research report on Wednesday, December 5th. They set a “neutral” rating and a $110.00 price target for the company. DA Davidson raised shares of Broadridge Financial Solutions from a “neutral” rating to a “buy” rating and set a $116.00 target price on the stock in a research report on Friday, February 8th. Finally, SunTrust Banks reiterated a “buy” rating and set a $110.00 price objective on shares of Broadridge Financial Solutions in a research report on Sunday, January 6th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Broadridge Financial Solutions presently has an average rating of “Hold” and a consensus price target of $118.80.

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Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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