Forza Wealth Management LLC Trims Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Forza Wealth Management LLC lessened its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 3,000 shares of the business services provider’s stock after selling 150 shares during the quarter. Forza Wealth Management LLC’s holdings in Broadridge Financial Solutions were worth $615,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. OFI Invest Asset Management purchased a new stake in shares of Broadridge Financial Solutions during the 3rd quarter worth approximately $25,000. Headinvest LLC purchased a new stake in Broadridge Financial Solutions in the 3rd quarter valued at $32,000. First Command Advisory Services Inc. purchased a new stake in Broadridge Financial Solutions in the 3rd quarter valued at $34,000. Stuart Chaussee & Associates Inc. purchased a new stake in Broadridge Financial Solutions in the 4th quarter valued at $34,000. Finally, Manchester Capital Management LLC raised its position in Broadridge Financial Solutions by 57.1% in the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on BR shares. Royal Bank of Canada upped their price target on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Raymond James upped their price target on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. 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. DA Davidson reiterated a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. Finally, StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Friday. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $206.67.

Insider Transactions at Broadridge Financial Solutions

In other news, insider Douglas Richard Deschutter sold 12,200 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the transaction, the insider now directly 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 accessible through the SEC website. In related news, VP Thomas P. Carey sold 12,731 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total value of $2,559,185.62. Following the sale, the vice president now directly owns 13,303 shares of the company’s stock, valued at approximately $2,674,169.06. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Douglas Richard Deschutter sold 12,200 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the completion of the sale, the insider now directly owns 32,480 shares in the company, valued at $6,648,980.80. The disclosure for this sale can be found here. Insiders have sold a total of 48,483 shares of company stock valued at $9,745,637 in the last ninety days. 1.60% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock traded up $2.14 during trading hours on Monday, reaching $196.29. 315,243 shares of the stock were exchanged, compared to its average volume of 498,412. The stock has a market cap of $23.12 billion, a P/E ratio of 34.20 and a beta of 0.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.40 and a current ratio of 1.40. Broadridge Financial Solutions, Inc. has a 52-week low of $143.95 and a 52-week high of $210.24. The firm’s 50 day moving average is $200.51 and its 200 day moving average is $194.83.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Thursday, February 1st. The business services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. Broadridge Financial Solutions’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 EPS. Analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a dividend of $0.80 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.63%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.75%.

Broadridge Financial Solutions 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.