SVB Wealth LLC Sells 31,051 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

SVB Wealth LLC reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 24.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 94,431 shares of the business services provider’s stock after selling 31,051 shares during the quarter. SVB Wealth LLC owned approximately 0.08% of Broadridge Financial Solutions worth $19,429,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB lifted its position in shares of Broadridge Financial Solutions by 680.1% during the 4th quarter. Nordea Investment Management AB now owns 85,325 shares of the business services provider’s stock valued at $17,584,000 after acquiring an additional 74,387 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at $227,750,000. Crown Oak Advisors LLC acquired a new position in shares of Broadridge Financial Solutions during the 4th quarter valued at $7,032,000. Comerica Bank acquired a new position in shares of Broadridge Financial Solutions during the 3rd quarter valued at $8,116,000. Finally, Gotham Asset Management LLC lifted its position in shares of Broadridge Financial Solutions by 176.1% during the 3rd quarter. Gotham Asset Management LLC now owns 21,357 shares of the business services provider’s stock valued at $3,824,000 after acquiring an additional 13,621 shares during the period. 90.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BR has been the topic of a number of recent analyst reports. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday. DA Davidson restated a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Royal Bank of Canada raised their price objective on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Evercore ISI restated an “outperform” rating and set a $230.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Finally, Raymond James raised their price objective on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $206.67.

Insider Buying and Selling

In related news, insider Douglas Richard Deschutter sold 12,200 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robert N. Duelks sold 830 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $201.58, for a total value of $167,311.40. Following the transaction, the director now owns 5,445 shares in the company, valued at approximately $1,097,603.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Douglas Richard Deschutter sold 12,200 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 32,480 shares in the company, valued at approximately $6,648,980.80. The disclosure for this sale can be found here. Insiders sold 48,483 shares of company stock valued at $9,745,637 over the last quarter. 1.60% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR traded down $1.31 during trading on Tuesday, hitting $194.36. The company’s stock had a trading volume of 96,541 shares, compared to its average volume of 513,860. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.40 and a quick ratio of 1.40. Broadridge Financial Solutions, Inc. has a 12 month low of $139.52 and a 12 month high of $210.24. The company has a 50-day moving average of $201.16 and a 200-day moving average of $193.79. The firm has a market cap of $22.89 billion, a price-to-earnings ratio of 34.09 and a beta of 0.99.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the company earned $0.91 earnings per share. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Thursday, March 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 55.75%.

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.