Capital International Investors Sells 845,500 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Capital International Investors lessened its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 21.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,054,013 shares of the business services provider’s stock after selling 845,500 shares during the quarter. Capital International Investors owned approximately 2.59% of Broadridge Financial Solutions worth $628,373,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BR. Procyon Advisors LLC lifted its holdings in Broadridge Financial Solutions by 2.3% during the fourth quarter. Procyon Advisors LLC now owns 2,319 shares of the business services provider’s stock worth $477,000 after acquiring an additional 52 shares during the period. New York Life Investment Management LLC lifted its holdings in Broadridge Financial Solutions by 0.3% during the fourth quarter. New York Life Investment Management LLC now owns 18,444 shares of the business services provider’s stock worth $3,795,000 after acquiring an additional 52 shares during the period. Optas LLC lifted its holdings in Broadridge Financial Solutions by 3.8% during the fourth quarter. Optas LLC now owns 1,565 shares of the business services provider’s stock worth $322,000 after acquiring an additional 57 shares during the period. Signaturefd LLC lifted its holdings in Broadridge Financial Solutions by 3.8% during the fourth quarter. Signaturefd LLC now owns 1,596 shares of the business services provider’s stock worth $328,000 after acquiring an additional 58 shares during the period. Finally, Manchester Capital Management LLC lifted its holdings in Broadridge Financial Solutions by 57.1% during the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock worth $34,000 after acquiring an additional 60 shares during the period. Institutional investors own 90.03% of the company’s stock.

Insiders Place Their Bets

In other news, insider Douglas Richard Deschutter sold 12,200 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $204.71, for a total value of $2,497,462.00. Following the completion of the sale, the insider now owns 32,480 shares of the company’s stock, valued at approximately $6,648,980.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Douglas Richard Deschutter sold 12,200 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $204.71, for a total value of $2,497,462.00. Following the completion of the sale, the insider now owns 32,480 shares of the company’s stock, valued at approximately $6,648,980.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Thomas P. Carey sold 2,500 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $200.40, for a total value of $501,000.00. Following the completion of the sale, the vice president now directly owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. DA Davidson reissued a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Sunday, May 12th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $230.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $206.67.

Broadridge Financial Solutions Price Performance

NYSE:BR traded down $1.73 during trading hours on Wednesday, hitting $198.25. 201,159 shares of the company’s stock traded hands, compared to its average volume of 523,435. The firm has a market cap of $23.43 billion, a P/E ratio of 34.13 and a beta of 1.03. Broadridge Financial Solutions, Inc. has a 52 week low of $152.47 and a 52 week high of $210.24. The business’s fifty day simple moving average is $198.77 and its two-hundred day simple moving average is $198.99. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Wednesday, May 8th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.01). The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. Broadridge Financial Solutions’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.05 EPS. On average, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 54.61%.

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.