Massmutual Trust Co. FSB ADV Decreases Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Massmutual Trust Co. FSB ADV decreased its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 39.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 430 shares of the business services provider’s stock after selling 281 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Broadridge Financial Solutions were worth $88,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of BR. Kestra Advisory Services LLC raised its position in Broadridge Financial Solutions by 4.8% in the 3rd quarter. Kestra Advisory Services LLC now owns 6,791 shares of the business services provider’s stock worth $1,216,000 after buying an additional 312 shares during the last quarter. Rafferty Asset Management LLC raised its position in Broadridge Financial Solutions by 10.1% in the 3rd quarter. Rafferty Asset Management LLC now owns 9,392 shares of the business services provider’s stock worth $1,682,000 after buying an additional 858 shares during the last quarter. QRG Capital Management Inc. purchased a new position in Broadridge Financial Solutions in the 3rd quarter worth about $556,000. Nordea Investment Management AB raised its position in Broadridge Financial Solutions by 47.7% in the 3rd quarter. Nordea Investment Management AB now owns 10,938 shares of the business services provider’s stock worth $1,987,000 after buying an additional 3,530 shares during the last quarter. Finally, FMR LLC raised its position in Broadridge Financial Solutions by 3.9% in the 3rd quarter. FMR LLC now owns 67,216 shares of the business services provider’s stock worth $12,035,000 after buying an additional 2,544 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 3,473 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total value of $687,862.38. Following the completion of the transaction, the director now directly owns 22,588 shares in the company, valued at approximately $4,473,779.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 3,473 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total value of $687,862.38. Following the completion of the transaction, the director now directly owns 22,588 shares in the company, valued at approximately $4,473,779.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas P. Carey sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.40, for a total value of $501,000.00. Following the completion of the transaction, the vice president now owns 9,361 shares of the company’s stock, valued at $1,875,944.40. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Trading Up 0.4 %

Shares of NYSE:BR opened at $200.78 on Friday. The stock has a 50 day moving average of $197.51 and a 200 day moving average of $199.65. The company has a market cap of $23.73 billion, a PE ratio of 34.26 and a beta of 1.03. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions, Inc. has a 12-month low of $157.00 and a 12-month high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Wednesday, May 8th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.05 earnings per share. As a group, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.59%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 54.61%.

Analyst Ratings Changes

Several equities research analysts have recently commented on BR shares. Evercore ISI reaffirmed an “outperform” rating and set a $230.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. DA Davidson reaffirmed a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Finally, StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Five 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, the company presently has an average rating of “Hold” and a consensus target price of $206.67.

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.