Robeco Institutional Asset Management B.V. Sells 15,998 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Robeco Institutional Asset Management B.V. reduced its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 21.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,375 shares of the business services provider’s stock after selling 15,998 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Broadridge Financial Solutions were worth $13,198,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. State Street Corp raised its position in Broadridge Financial Solutions by 1.0% in the third quarter. State Street Corp now owns 5,181,715 shares of the business services provider’s stock worth $1,118,644,000 after acquiring an additional 51,439 shares during the period. Geode Capital Management LLC raised its position in Broadridge Financial Solutions by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider’s stock worth $643,018,000 after acquiring an additional 15,208 shares during the period. Stifel Financial Corp raised its position in Broadridge Financial Solutions by 0.4% in the third quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider’s stock worth $342,856,000 after acquiring an additional 5,813 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Broadridge Financial Solutions by 2.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider’s stock worth $194,585,000 after acquiring an additional 20,775 shares during the period. Finally, abrdn plc raised its position in Broadridge Financial Solutions by 5.5% in the third quarter. abrdn plc now owns 536,083 shares of the business services provider’s stock worth $114,451,000 after acquiring an additional 27,869 shares during the period. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR opened at $238.50 on Friday. The company has a 50 day moving average of $231.26 and a 200 day moving average of $220.17. The stock has a market cap of $27.88 billion, a P/E ratio of 41.26 and a beta of 1.08. Broadridge Financial Solutions, Inc. has a 12 month low of $188.30 and a 12 month high of $241.45. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. During the same quarter in the previous year, the company earned $0.92 earnings per share. As a group, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 13th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend was Friday, December 13th. Broadridge Financial Solutions’s payout ratio is 60.90%.

Insider Transactions at Broadridge Financial Solutions

In related news, insider Douglas Richard Deschutter sold 24,185 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the transaction, the insider now owns 27,137 shares of the company’s stock, valued at approximately $5,975,838.77. This trade represents a 47.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas P. Carey sold 15,710 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following 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 disclosure for this sale can be found here. Insiders have sold 54,532 shares of company stock valued at $12,264,846 in the last quarter. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. DA Davidson reaffirmed a “neutral” rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Morgan Stanley lifted their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $226.71.

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.