Hilltop Holdings Inc. Reduces Stake in Broadridge Financial Solutions, Inc. (BR)

Hilltop Holdings Inc. trimmed its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 10.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 18,572 shares of the business services provider’s stock after selling 2,185 shares during the period. Hilltop Holdings Inc.’s holdings in Broadridge Financial Solutions were worth $2,037,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Centaurus Financial Inc. bought a new position in shares of Broadridge Financial Solutions in the 1st quarter valued at $116,000. Captrust Financial Advisors bought a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at $133,000. Assetmark Inc. raised its position in Broadridge Financial Solutions by 397.5% during the 4th quarter. Assetmark Inc. now owns 1,582 shares of the business services provider’s stock worth $143,000 after purchasing an additional 1,264 shares during the last quarter. Weatherstone Capital Management bought a new position in Broadridge Financial Solutions during the 1st quarter worth $201,000. Finally, Fiduciary Trust Co. bought a new position in Broadridge Financial Solutions during the 1st quarter worth $223,000. Institutional investors own 84.60% of the company’s stock.

Shares of Broadridge Financial Solutions opened at $115.37 on Thursday, MarketBeat.com reports. The firm has a market cap of $13.83 billion, a P/E ratio of 36.86, a P/E/G ratio of 2.79 and a beta of 0.86. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.57 and a quick ratio of 1.57. Broadridge Financial Solutions, Inc. has a 12-month low of $71.58 and a 12-month high of $119.99.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, May 8th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.21. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.03 billion. Broadridge Financial Solutions had a return on equity of 45.33% and a net margin of 9.37%. Broadridge Financial Solutions’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the company earned $0.69 EPS. analysts expect that Broadridge Financial Solutions, Inc. will post 4.21 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 3rd. Shareholders of record on Friday, June 15th will be issued a dividend of $0.365 per share. The ex-dividend date is Thursday, June 14th. This represents a $1.46 dividend on an annualized basis and a yield of 1.27%. Broadridge Financial Solutions’s payout ratio is currently 46.65%.

In other Broadridge Financial Solutions news, insider Adam D. Amsterdam sold 10,000 shares of the stock in a transaction dated Tuesday, June 5th. The stock was sold at an average price of $117.97, for a total transaction of $1,179,700.00. Following the completion of the sale, the insider now directly owns 10,882 shares in the company, valued at approximately $1,283,749.54. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Julie R. Taylor sold 1,197 shares of the stock in a transaction dated Thursday, May 10th. The stock was sold at an average price of $114.73, for a total value of $137,331.81. Following the sale, the vice president now owns 2,762 shares of the company’s stock, valued at $316,884.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 203,270 shares of company stock valued at $23,520,457. Company insiders own 2.60% of the company’s stock.

BR has been the subject of several analyst reports. ValuEngine raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research raised Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a research report on Thursday, May 10th. Sandler O’Neill reaffirmed a “hold” rating and set a $101.00 target price on shares of Broadridge Financial Solutions in a research report on Thursday, February 15th. Finally, DA Davidson raised their target price on Broadridge Financial Solutions from $90.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 28th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $100.25.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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