Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC trimmed its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 98.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 915 shares of the business services provider’s stock after selling 56,832 shares during the quarter. Acadian Asset Management LLC’s holdings in Broadridge Financial Solutions were worth $179,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in BR. Confluence Investment Management LLC purchased a new position in Broadridge Financial Solutions in the 1st quarter valued at about $144,033,000. APG Asset Management US Inc. purchased a new position in shares of Broadridge Financial Solutions in the fourth quarter valued at approximately $70,498,000. Norges Bank acquired a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth approximately $67,605,000. Veritas Investment Partners UK Ltd. boosted its stake in shares of Broadridge Financial Solutions by 16.9% in the fourth quarter. Veritas Investment Partners UK Ltd. now owns 1,020,533 shares of the business services provider’s stock worth $210,031,000 after acquiring an additional 147,293 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Broadridge Financial Solutions by 206.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 200,371 shares of the business services provider’s stock worth $412,000 after purchasing an additional 134,911 shares in the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Price Performance

Shares of BR stock opened at $208.22 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market capitalization of $24.61 billion, a PE ratio of 35.53 and a beta of 1.05. The firm’s 50-day moving average is $210.40 and its two-hundred day moving average is $203.32. Broadridge Financial Solutions, Inc. has a 12 month low of $166.73 and a 12 month high of $223.81.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, beating the consensus estimate of $3.49 by $0.01. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.21 EPS. Analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, September 12th. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.69%. Broadridge Financial Solutions’s dividend payout ratio is currently 60.07%.

Insider Buying and Selling

In other news, President Christopher John Perry sold 162 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $210.00, for a total value of $34,020.00. Following the sale, the president now directly owns 67,267 shares of the company’s stock, valued at approximately $14,126,070. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the sale, the chief executive officer now owns 200,675 shares of the company’s stock, valued at $41,963,149.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Christopher John Perry sold 162 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $210.00, for a total transaction of $34,020.00. Following the completion of the transaction, the president now directly owns 67,267 shares of the company’s stock, valued at approximately $14,126,070. The disclosure for this sale can be found here. In the last ninety days, insiders sold 134,386 shares of company stock valued at $28,112,824. 1.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BR. JPMorgan Chase & Co. lifted their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. DA Davidson reaffirmed a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Finally, Royal Bank of Canada boosted their target price on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $213.33.

Broadridge Financial Solutions 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.