1832 Asset Management L.P. Decreases Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

1832 Asset Management L.P. cut its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 8.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,251 shares of the business services provider’s stock after selling 1,494 shares during the quarter. 1832 Asset Management L.P.’s holdings in Broadridge Financial Solutions were worth $3,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. LifeSteps Financial Inc. purchased a new position in shares of Broadridge Financial Solutions in the first quarter worth $32,000. EdgeRock Capital LLC bought a new stake in Broadridge Financial Solutions in the 2nd quarter worth $32,000. Rothschild Investment LLC purchased a new stake in shares of Broadridge Financial Solutions during the second quarter worth about $32,000. New Covenant Trust Company N.A. bought a new stake in shares of Broadridge Financial Solutions in the first quarter worth about $34,000. Finally, Family Firm Inc. bought a new position in Broadridge Financial Solutions during the 2nd quarter valued at approximately $37,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Down 0.0 %

NYSE:BR opened at $210.56 on Wednesday. The firm has a 50-day simple moving average of $210.53 and a two-hundred day simple moving average of $203.45. The firm has a market cap of $24.88 billion, a P/E ratio of 35.93 and a beta of 1.05. 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.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the business earned $3.21 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. Analysts predict 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 disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.67%. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.07%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, President Christopher John Perry sold 31,539 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the sale, the president now owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, President Christopher John Perry sold 31,539 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the transaction, the president now directly owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Laura Matlin sold 673 shares of Broadridge Financial Solutions stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total value of $145,368.00. Following the completion of the sale, the vice president now directly owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,386 shares of company stock valued at $28,112,824. 1.60% of the stock is owned by 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.