Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC reduced its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 21.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,112 shares of the business services provider’s stock after selling 872 shares during the period. Private Advisor Group LLC’s holdings in Broadridge Financial Solutions were worth $613,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. LifeSteps Financial Inc. bought a new stake in shares of Broadridge Financial Solutions in the 1st quarter valued at approximately $32,000. EdgeRock Capital LLC bought a new stake in Broadridge Financial Solutions during the second quarter valued at $32,000. Rothschild Investment LLC bought a new stake in Broadridge Financial Solutions during the second quarter valued at $32,000. New Covenant Trust Company N.A. bought a new position in shares of Broadridge Financial Solutions in the 1st quarter worth about $34,000. Finally, Family Firm Inc. acquired a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at about $37,000. Institutional investors own 90.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BR shares. Royal Bank of Canada increased their price objective on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. raised their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. DA Davidson restated a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Finally, StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $213.33.

Insider Buying and Selling

In other news, VP Laura Matlin sold 673 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total value of $145,368.00. Following the sale, the vice president now owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Laura Matlin sold 673 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the transaction, the vice president now directly owns 5,530 shares of the company’s stock, valued at $1,194,480. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Christopher John Perry sold 31,539 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the completion of the sale, the president now directly owns 67,215 shares of the company’s stock, valued at $13,938,374.55. The disclosure for this sale can be found here. Insiders have sold a total of 134,386 shares of company stock valued at $28,112,824 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Stock Down 0.3 %

Shares of Broadridge Financial Solutions stock opened at $210.96 on Wednesday. Broadridge Financial Solutions, Inc. has a 1-year low of $166.73 and a 1-year high of $223.81. The company has a market capitalization of $24.93 billion, a P/E ratio of 36.00 and a beta of 1.05. The business’s fifty day moving average price is $209.91 and its two-hundred day moving average price is $203.19. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.49 by $0.01. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.21 earnings per share. As a group, research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Thursday, September 12th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 60.07%.

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.