Forza Wealth Management LLC Sells 150 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Forza Wealth Management LLC cut its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,000 shares of the business services provider’s stock after selling 150 shares during the period. Forza Wealth Management LLC’s holdings in Broadridge Financial Solutions were worth $615,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BR. Nordea Investment Management AB boosted its stake 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 worth $17,584,000 after purchasing an additional 74,387 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter worth about $227,750,000. Crown Oak Advisors LLC purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter worth about $7,032,000. Comerica Bank purchased a new position in shares of Broadridge Financial Solutions during the 3rd quarter worth about $8,116,000. Finally, Cornercap Investment Counsel Inc. purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter worth about $1,089,000. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Stock Up 1.1 %

Shares of NYSE:BR traded up $2.14 during trading hours on Monday, hitting $196.29. The company’s stock had a trading volume of 315,243 shares, compared to its average volume of 498,412. Broadridge Financial Solutions, Inc. has a 52 week low of $143.95 and a 52 week high of $210.24. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.40 and a quick ratio of 1.40. The company has a market capitalization of $23.12 billion, a price-to-earnings ratio of 34.20 and a beta of 0.99. The firm’s fifty day moving average price is $200.51 and its 200 day moving average price is $194.83.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. Broadridge Financial Solutions had a net margin of 10.82% and a return on equity of 41.12%. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the business posted $0.91 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, research analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a $0.80 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.20 annualized dividend and a dividend yield of 1.63%. Broadridge Financial Solutions’s dividend payout ratio is currently 55.75%.

Insider Activity

In related news, VP Thomas P. Carey sold 12,731 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the completion of the transaction, the vice president now owns 13,303 shares in the company, valued at approximately $2,674,169.06. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Thomas P. Carey sold 12,731 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the completion of the transaction, the vice president now owns 13,303 shares in the company, valued at approximately $2,674,169.06. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Douglas Richard Deschutter sold 22,722 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the transaction, the insider now owns 44,680 shares of the company’s stock, valued at approximately $8,891,320. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,483 shares of company stock worth $9,745,637. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Raymond James lifted their price target on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Evercore ISI reissued an “outperform” rating and issued a $230.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Royal Bank of Canada boosted their price objective 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. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Friday. Finally, DA Davidson reissued a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Broadridge Financial Solutions currently has a consensus rating of “Hold” and an average price target of $206.67.

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.