Broadridge Financial Solutions, Inc. (NYSE:BR) Stake Lessened by Convergence Investment Partners LLC

Convergence Investment Partners LLC lowered its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,456 shares of the business services provider’s stock after selling 172 shares during the period. Convergence Investment Partners LLC’s holdings in Broadridge Financial Solutions were worth $711,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. OFI Invest Asset Management purchased a new stake in shares of Broadridge Financial Solutions during the third quarter worth $25,000. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Broadridge Financial Solutions during the fourth quarter worth $34,000. Headinvest LLC bought a new position in Broadridge Financial Solutions during the third quarter valued at about $32,000. BKM Wealth Management LLC bought a new position in Broadridge Financial Solutions during the fourth quarter valued at about $37,000. Finally, First Command Advisory Services Inc. bought a new position in Broadridge Financial Solutions during the third quarter valued at about $34,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR traded down $1.41 during midday trading on Friday, hitting $194.15. The company’s stock had a trading volume of 211,848 shares, compared to its average volume of 369,147. The stock has a market capitalization of $22.87 billion, a price-to-earnings ratio of 33.82 and a beta of 0.99. The stock’s 50 day simple moving average is $200.54 and its 200 day simple moving average is $194.55. Broadridge Financial Solutions, Inc. has a fifty-two week low of $140.06 and a fifty-two week high of $210.24. 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 (NYSE:BR) last released its earnings results 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 return on equity of 41.12% and a net margin of 10.82%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the business earned $0.91 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.75%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Evercore ISI restated an “outperform” rating and set a $230.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. DA Davidson restated a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Friday. Raymond James raised their target price on Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, Royal Bank of Canada raised their price target on Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Broadridge Financial Solutions presently has an average rating of “Hold” and a consensus price target of $206.67.

Insider Buying and Selling

In related news, insider Douglas Richard Deschutter sold 12,200 shares of Broadridge Financial Solutions 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 sale, the insider now directly owns 32,480 shares of the company’s stock, valued at $6,648,980.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 12,200 shares of Broadridge Financial Solutions stock in a transaction that occurred on 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 sale, the insider now directly owns 32,480 shares of the company’s stock, valued at $6,648,980.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the vice president now directly owns 13,303 shares in the company, valued at $2,674,169.06. The disclosure for this sale can be found here. Insiders have sold a total of 48,483 shares of company stock valued at $9,745,637 over the last three months. 1.60% of the stock is owned by corporate insiders.

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.