Broadridge Financial Solutions, Inc. (NYSE:BR) Stake Decreased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. decreased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 49.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,842 shares of the business services provider’s stock after selling 4,702 shares during the period. Harbor Capital Advisors Inc.’s holdings in Broadridge Financial Solutions were worth $1,174,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC increased its stake in shares of Broadridge Financial Solutions by 2,620.0% in the first quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider’s stock worth $33,000 after acquiring an additional 131 shares during the last quarter. Minot DeBlois Advisors LLC bought a new stake in Broadridge Financial Solutions during the fourth quarter valued at about $34,000. Gen Wealth Partners Inc bought a new stake in Broadridge Financial Solutions during the fourth quarter valued at about $36,000. Curio Wealth LLC bought a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at about $45,000. Finally, Promus Capital LLC bought a new stake in shares of Broadridge Financial Solutions in the fourth quarter valued at about $52,000. Institutional investors own 90.03% of the company’s stock.

Analyst Upgrades and Downgrades

BR has been the subject of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $259.00 price target on shares of Broadridge Financial Solutions in a research report on Monday, May 19th. Needham & Company LLC assumed coverage on shares of Broadridge Financial Solutions in a report on Tuesday, May 6th. They set a “buy” rating and a $300.00 price objective for the company. Finally, Wall Street Zen raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $250.83.

Broadridge Financial Solutions Price Performance

Shares of BR stock opened at $239.76 on Friday. The firm’s 50 day moving average price is $236.97 and its two-hundred day moving average price is $235.04. The stock has a market cap of $28.16 billion, a PE ratio of 37.52 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a 52-week low of $192.68 and a 52-week high of $247.01. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.03. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm posted $2.23 earnings per share. As a group, analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be issued a dividend of $0.88 per share. The ex-dividend date is Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.47%. Broadridge Financial Solutions’s payout ratio is 52.93%.

Insider Buying and Selling

In other news, Director Maura A. Markus sold 3,556 shares of the business’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total transaction of $864,392.48. Following the transaction, the director now directly owns 30,892 shares in the company, valued at $7,509,227.36. The trade was a 10.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Hope M. Jarkowski sold 1,068 shares of the business’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total transaction of $251,214.96. Following the transaction, the insider now owns 1,070 shares in the company, valued at $251,685.40. This represents a 49.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,116 shares of company stock worth $4,352,298 over the last ninety days. Company insiders own 1.30% of the company’s stock.

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.