Cetera Investment Advisers Has $4.97 Million Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Cetera Investment Advisers trimmed its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,247 shares of the business services provider’s stock after selling 1,823 shares during the quarter. Cetera Investment Advisers’ holdings in Broadridge Financial Solutions were worth $4,974,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Goldman Sachs Group Inc. raised its position in Broadridge Financial Solutions by 22.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 472,031 shares of the business services provider’s stock worth $97,120,000 after purchasing an additional 86,853 shares during the last quarter. Elo Mutual Pension Insurance Co bought a new position in shares of Broadridge Financial Solutions during the fourth quarter worth about $2,122,000. State of Tennessee Treasury Department boosted its holdings in Broadridge Financial Solutions by 35.6% in the fourth quarter. State of Tennessee Treasury Department now owns 72,211 shares of the business services provider’s stock valued at $14,857,000 after acquiring an additional 18,945 shares during the last quarter. Unigestion Holding SA increased its position in Broadridge Financial Solutions by 66.9% during the 4th quarter. Unigestion Holding SA now owns 4,335 shares of the business services provider’s stock valued at $892,000 after purchasing an additional 1,737 shares during the period. Finally, Power Corp of Canada bought a new position in Broadridge Financial Solutions during the 4th quarter worth approximately $6,201,000. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $216.84 on Wednesday. The stock has a 50-day moving average of $211.78 and a 200-day moving average of $204.24. Broadridge Financial Solutions, Inc. has a one year low of $166.73 and a one year high of $223.81. 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 cap of $25.63 billion, a PE ratio of 37.00 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data 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. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the company posted $3.21 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a dividend of $0.88 per share. The ex-dividend date was Thursday, September 12th. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 1.62%. Broadridge Financial Solutions’s payout ratio is presently 60.07%.

Analysts Set New Price Targets

BR has been the topic of a number of analyst reports. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday. Royal Bank of Canada increased their price target on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, DA Davidson reiterated a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of “Hold” and a consensus price target of $213.33.

Insider Buying and Selling

In other Broadridge Financial Solutions news, President Christopher John Perry sold 17,534 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the transaction, the president now owns 50,237 shares in the company, valued at approximately $10,721,078.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $5,227,750.00. Following the completion of the sale, the chief executive officer now owns 200,675 shares in the company, valued at $41,963,149.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Christopher John Perry sold 17,534 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the transaction, the president now directly owns 50,237 shares in the company, valued at $10,721,078.17. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,386 shares of company stock worth $28,112,824 in the last quarter. Insiders own 1.60% of the company’s stock.

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.