Sentry Investment Management LLC Decreases Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Sentry Investment Management LLC cut its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 17.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 512 shares of the business services provider’s stock after selling 105 shares during the quarter. Sentry Investment Management LLC’s holdings in Broadridge Financial Solutions were worth $101,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Confluence Investment Management LLC purchased a new stake in shares of Broadridge Financial Solutions during the 1st quarter valued at approximately $144,033,000. APG Asset Management US Inc. purchased a new position in shares of Broadridge Financial Solutions in the fourth quarter valued at $70,498,000. Norges Bank bought a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at $67,605,000. Veritas Investment Partners UK Ltd. lifted its holdings in Broadridge Financial Solutions by 16.9% during the 4th quarter. Veritas Investment Partners UK Ltd. now owns 1,020,533 shares of the business services provider’s stock worth $210,031,000 after purchasing an additional 147,293 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Broadridge Financial Solutions by 206.1% in the 4th 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 during the period. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock opened at $210.52 on Friday. Broadridge Financial Solutions, Inc. has a fifty-two week low of $166.73 and a fifty-two week high of $223.81. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market cap of $24.88 billion, a P/E ratio of 35.92 and a beta of 1.05. The firm’s fifty day moving average price is $209.52 and its 200-day moving average price is $203.03.

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

Broadridge Financial Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be paid a $0.88 dividend. The ex-dividend date of this dividend is 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 yield of 1.67%. Broadridge Financial Solutions’s payout ratio is currently 60.07%.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 25,000 shares of Broadridge Financial Solutions stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $209.11, for a total value of $5,227,750.00. Following the transaction, the chief executive officer now owns 200,675 shares in the company, valued at $41,963,149.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, VP Laura Matlin sold 673 shares of the company’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 completion of the transaction, the vice president now directly owns 5,530 shares of the company’s stock, valued at $1,194,480. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy C. Gokey sold 25,000 shares of the business’s 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 transaction, the chief executive officer now owns 200,675 shares in the company, valued at approximately $41,963,149.25. The disclosure for this sale can be found here. Insiders sold a total of 134,386 shares of company stock worth $28,112,824 over the last three months. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

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

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.