ING Groep NV Has $11.17 Million Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

ING Groep NV cut its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,389 shares of the business services provider’s stock after selling 3,680 shares during the period. ING Groep NV’s holdings in Broadridge Financial Solutions were worth $11,166,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of BR. Creative Planning lifted its position in Broadridge Financial Solutions by 1.3% during the third quarter. Creative Planning now owns 23,039 shares of the business services provider’s stock worth $4,954,000 after acquiring an additional 300 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Broadridge Financial Solutions by 110.7% during the third quarter. Blue Trust Inc. now owns 1,747 shares of the business services provider’s stock worth $344,000 after purchasing an additional 918 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Broadridge Financial Solutions by 93.5% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 621 shares of the business services provider’s stock worth $134,000 after purchasing an additional 300 shares during the period. Foundations Investment Advisors LLC increased its holdings in shares of Broadridge Financial Solutions by 15.7% during the third quarter. Foundations Investment Advisors LLC now owns 1,476 shares of the business services provider’s stock worth $317,000 after purchasing an additional 200 shares during the period. Finally, Eastern Bank bought a new position in shares of Broadridge Financial Solutions during the third quarter worth approximately $387,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 15,710 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total value of $3,618,327.20. Following the transaction, the vice president now owns 12,146 shares in the company, valued at $2,797,466.72. The trade was a 56.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brett Keller sold 5,442 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the completion of the transaction, the director now owns 15,536 shares in the company, valued at approximately $3,734,854.40. The trade was a 25.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,666 shares of company stock worth $5,050,766. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. UBS Group raised their target price on shares of 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 lifted their price objective on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Wolfe Research reissued a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. JPMorgan Chase & Co. lifted their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, DA Davidson reissued a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $239.17.

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $236.14 on Friday. The firm’s fifty day moving average price is $232.75 and its two-hundred day moving average price is $223.18. The stock has a market cap of $27.63 billion, a PE ratio of 36.95 and a beta of 1.08. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $244.47. 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 (NYSE:BR) last posted its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping 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 in the previous year, the firm earned $0.92 EPS. On average, equities analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.88 per share. The ex-dividend date is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.49%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.09%.

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.