Bank of New York Mellon Corp Increases Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Bank of New York Mellon Corp increased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 896,718 shares of the business services provider’s stock after acquiring an additional 20,694 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.77% of Broadridge Financial Solutions worth $202,739,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BR. Adero Partners LLC grew its holdings in Broadridge Financial Solutions by 2.5% in the 4th quarter. Adero Partners LLC now owns 1,837 shares of the business services provider’s stock valued at $415,000 after buying an additional 45 shares during the period. Sunburst Financial Group LLC grew its holdings in Broadridge Financial Solutions by 4.8% in the fourth quarter. Sunburst Financial Group LLC now owns 1,011 shares of the business services provider’s stock valued at $229,000 after purchasing an additional 46 shares during the period. Avestar Capital LLC increased its position in Broadridge Financial Solutions by 4.0% during the third quarter. Avestar Capital LLC now owns 1,248 shares of the business services provider’s stock worth $268,000 after purchasing an additional 48 shares during the last quarter. Foundations Investment Advisors LLC raised its stake in Broadridge Financial Solutions by 3.5% during the fourth quarter. Foundations Investment Advisors LLC now owns 1,528 shares of the business services provider’s stock worth $345,000 after purchasing an additional 52 shares during the period. Finally, UMB Bank n.a. raised its stake in Broadridge Financial Solutions by 5.5% during the fourth quarter. UMB Bank n.a. now owns 1,097 shares of the business services provider’s stock worth $248,000 after purchasing an additional 57 shares during the period. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR opened at $237.17 on Friday. The business’s 50-day simple moving average is $233.55 and its 200 day simple moving average is $223.96. The company has a market cap of $27.75 billion, a P/E ratio of 37.12 and a beta of 1.08. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $244.47.

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 analysts’ consensus estimates 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 last year, the company earned $0.92 EPS. On average, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be given a $0.88 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.48%. Broadridge Financial Solutions’s payout ratio is currently 55.09%.

Wall Street Analyst Weigh In

BR has been the subject of a number of research analyst reports. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Thursday. UBS Group upped their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. DA Davidson reaffirmed a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Finally, Morgan Stanley raised their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $239.17.

Insider Activity

In other news, VP Thomas P. Carey sold 15,710 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the completion of the transaction, the vice president now directly owns 12,146 shares in the company, valued at approximately $2,797,466.72. This represents a 56.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Laura Matlin sold 514 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total transaction of $124,182.40. Following the completion of the sale, the vice president now owns 6,602 shares of the company’s stock, valued at approximately $1,595,043.20. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,666 shares of company stock worth $5,050,766 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

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.