Broadridge Financial Solutions, Inc. (NYSE:BR) Position Reduced by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC decreased its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 10.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,672 shares of the business services provider’s stock after selling 1,533 shares during the period. Janney Montgomery Scott LLC’s holdings in Broadridge Financial Solutions were worth $2,725,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Broadridge Financial Solutions by 108.7% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 83,923 shares of the business services provider’s stock worth $17,192,000 after purchasing an additional 43,710 shares in the last quarter. Tidal Investments LLC raised its holdings in Broadridge Financial Solutions by 99.6% during the first quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider’s stock worth $3,627,000 after purchasing an additional 8,837 shares in the last quarter. QRG Capital Management Inc. raised its holdings in Broadridge Financial Solutions by 72.7% during the first quarter. QRG Capital Management Inc. now owns 7,009 shares of the business services provider’s stock worth $1,436,000 after purchasing an additional 2,950 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Broadridge Financial Solutions by 5.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 55,494 shares of the business services provider’s stock worth $11,329,000 after purchasing an additional 2,685 shares in the last quarter. Finally, BDF Gestion bought a new position in shares of Broadridge Financial Solutions in the second quarter valued at $3,954,000. Institutional investors own 90.03% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on BR. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Morgan Stanley upped their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. upped their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $217.83.

Insider Activity

In other news, insider Douglas Richard Deschutter sold 24,185 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the transaction, the insider now directly owns 27,137 shares in the company, valued at $5,975,838.77. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, President Christopher John Perry sold 31,539 shares of the company’s stock in a transaction on 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 sale, the president now directly owns 67,215 shares in the company, valued at approximately $13,938,374.55. 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 accessible through this link. Also, insider Douglas Richard Deschutter sold 24,185 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the completion of the sale, the insider now owns 27,137 shares of the company’s stock, valued at $5,975,838.77. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 157,898 shares of company stock worth $33,293,234 in the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Trading Up 0.4 %

NYSE BR opened at $226.21 on Tuesday. Broadridge Financial Solutions, Inc. has a twelve month low of $176.29 and a twelve month high of $228.06. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.08 and a current ratio of 1.39. The stock has a market cap of $26.44 billion, a price-to-earnings ratio of 39.14 and a beta of 1.05. The firm’s 50 day moving average price is $214.56 and its two-hundred day moving average price is $207.28.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the company posted $1.09 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. Equities analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

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.