Franklin Resources Inc. Sells 40,440 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Franklin Resources Inc. trimmed its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 888,643 shares of the business services provider’s stock after selling 40,440 shares during the quarter. Franklin Resources Inc. owned 0.76% of Broadridge Financial Solutions worth $200,913,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BR. Summit Financial LLC lifted its holdings in Broadridge Financial Solutions by 16.9% during the fourth quarter. Summit Financial LLC now owns 5,272 shares of the business services provider’s stock worth $1,197,000 after acquiring an additional 761 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Broadridge Financial Solutions by 0.4% during the 4th quarter. Alliancebernstein L.P. now owns 476,129 shares of the business services provider’s stock valued at $107,648,000 after purchasing an additional 1,956 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Broadridge Financial Solutions by 28.4% in the 4th quarter. Wellington Management Group LLP now owns 4,636 shares of the business services provider’s stock valued at $1,048,000 after purchasing an additional 1,026 shares during the period. O Shaughnessy Asset Management LLC increased its stake in Broadridge Financial Solutions by 13.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 24,184 shares of the business services provider’s stock worth $5,468,000 after purchasing an additional 2,837 shares in the last quarter. Finally, Physician Wealth Advisors Inc. acquired a new stake in Broadridge Financial Solutions during the 4th quarter worth approximately $52,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Activity

In other news, CEO Timothy C. Gokey sold 95,956 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $235.43, for a total transaction of $22,590,921.08. Following the completion of the sale, the chief executive officer now owns 169,788 shares in the company, valued at approximately $39,973,188.84. This trade represents a 36.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Laura Matlin sold 514 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total transaction of $124,182.40. Following the completion of the transaction, the vice president now owns 6,602 shares in the company, 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. In the last ninety days, insiders have sold 124,754 shares of company stock valued at $29,397,793. 1.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

BR has been the subject of several research reports. DA Davidson reissued a “neutral” rating and set a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. UBS Group increased their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Morgan Stanley boosted their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. Royal Bank of Canada increased their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. boosted their target price on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $241.00.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $244.70 on Wednesday. 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 of $237.43 and a 200-day moving average of $228.23. The stock has a market capitalization of $28.63 billion, a price-to-earnings ratio of 38.29 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $246.58.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates 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 in the prior year, the business earned $0.92 earnings per share. As a group, sell-side analysts predict 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. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.88 per share. The ex-dividend date is Thursday, March 13th. This represents a $3.52 annualized dividend and a dividend yield of 1.44%. Broadridge Financial Solutions’s dividend payout ratio 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.