Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV lessened its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,383 shares of the business services provider’s stock after selling 93 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Broadridge Financial Solutions were worth $2,381,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of BR. Norges Bank acquired a new stake in Broadridge Financial Solutions in the fourth quarter valued at approximately $67,605,000. UBS Group AG increased its stake in Broadridge Financial Solutions by 8.2% during the 4th quarter. UBS Group AG now owns 186,444 shares of the business services provider’s stock worth $38,361,000 after buying an additional 14,147 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Broadridge Financial Solutions by 4.9% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 12,205 shares of the business services provider’s stock worth $2,511,000 after buying an additional 572 shares during the period. US Bancorp DE boosted its position in Broadridge Financial Solutions by 2.1% in the 4th quarter. US Bancorp DE now owns 52,727 shares of the business services provider’s stock valued at $10,850,000 after buying an additional 1,107 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its stake in shares of Broadridge Financial Solutions by 49.0% during the fourth quarter. Allianz Asset Management GmbH now owns 22,575 shares of the business services provider’s stock valued at $4,645,000 after acquiring an additional 7,420 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Price Performance

BR opened at $210.54 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55. The company’s 50-day moving average price is $210.51 and its 200 day moving average price is $203.40. Broadridge Financial Solutions, Inc. has a fifty-two week low of $166.73 and a fifty-two week high of $223.81. The firm has a market cap of $24.88 billion, a price-to-earnings ratio of 35.93 and a beta of 1.05.

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

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be given a $0.88 dividend. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, September 12th. This represents a $3.52 annualized dividend and a yield of 1.67%. Broadridge Financial Solutions’s dividend payout ratio is 60.07%.

Analyst Ratings Changes

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

Insider Buying and Selling at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 31,539 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total value of $6,540,242.43. Following the completion of the transaction, the president now directly owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, President Christopher John Perry sold 31,539 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total value of $6,540,242.43. Following the completion of the transaction, the president now owns 67,215 shares in the company, valued at approximately $13,938,374.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Laura Matlin sold 673 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were 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 in the company, valued at approximately $1,194,480. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 134,386 shares of company stock worth $28,112,824. 1.60% of the stock is owned by company insiders.

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.