Kesler Norman & Wride LLC Reduces Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Kesler Norman & Wride LLC lowered its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,284 shares of the business services provider’s stock after selling 488 shares during the quarter. Kesler Norman & Wride LLC’s holdings in Broadridge Financial Solutions were worth $1,567,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BR. Oregon Public Employees Retirement Fund raised its position in Broadridge Financial Solutions by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 10,155 shares of the business services provider’s stock valued at $2,001,000 after purchasing an additional 50 shares during the last quarter. Garrison Asset Management LLC lifted its holdings in shares of Broadridge Financial Solutions by 0.3% during the second quarter. Garrison Asset Management LLC now owns 17,943 shares of the business services provider’s stock worth $3,535,000 after purchasing an additional 50 shares during the period. Hutchens & Kramer Investment Management Group LLC grew its position in Broadridge Financial Solutions by 4.5% in the 1st quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,193 shares of the business services provider’s stock valued at $242,000 after buying an additional 51 shares during the last quarter. TIAA Trust National Association raised its position in Broadridge Financial Solutions by 1.0% during the 1st quarter. TIAA Trust National Association now owns 5,469 shares of the business services provider’s stock worth $1,120,000 after buying an additional 52 shares during the last quarter. Finally, Brighton Jones LLC increased its stake in shares of Broadridge Financial Solutions by 2.5% during the second quarter. Brighton Jones LLC now owns 2,173 shares of the business services provider’s stock worth $428,000 after acquiring an additional 52 shares during the period. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Trading Down 0.1 %

Shares of Broadridge Financial Solutions stock opened at $215.18 on Tuesday. The business has a 50 day moving average price of $211.75 and a 200 day moving average price of $204.15. The company has a market capitalization of $25.43 billion, a P/E ratio of 36.72 and a beta of 1.05. 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, Inc. has a 1 year low of $166.73 and a 1 year high of $223.81.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Broadridge Financial Solutions’s revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the business earned $3.21 earnings per share. Sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.64%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, September 12th. Broadridge Financial Solutions’s payout ratio is 60.07%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BR shares. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. DA Davidson restated a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Royal Bank of Canada boosted 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. increased their target price on shares of 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 four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.33.

Insider Transactions at Broadridge Financial Solutions

In other news, VP Laura Matlin sold 673 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of the transaction, the vice president now directly owns 5,530 shares in the company, valued at approximately $1,194,480. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, VP Laura Matlin sold 673 shares of Broadridge Financial Solutions stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the completion of the transaction, the vice president now directly owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Christopher John Perry sold 162 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $210.00, for a total value of $34,020.00. Following the sale, the president now owns 67,267 shares in the company, valued at $14,126,070. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,386 shares of company stock valued at $28,112,824 over the last quarter. Company 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.