Resources Management Corp CT ADV Trims Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Resources Management Corp CT ADV reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 11.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,975 shares of the business services provider’s stock after selling 254 shares during the period. Resources Management Corp CT ADV’s holdings in Broadridge Financial Solutions were worth $389,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BR. Confluence Investment Management LLC acquired a new stake in Broadridge Financial Solutions in the 1st quarter worth about $144,033,000. APG Asset Management US Inc. purchased a new stake in Broadridge Financial Solutions in the fourth quarter valued at approximately $70,498,000. Veritas Investment Partners UK Ltd. increased its position in Broadridge Financial Solutions by 16.9% during the fourth 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 during the last quarter. Public Employees Retirement Association of Colorado raised its stake in Broadridge Financial Solutions by 1,966.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 133,909 shares of the business services provider’s stock worth $27,552,000 after purchasing an additional 127,428 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Broadridge Financial Solutions by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 13,951,669 shares of the business services provider’s stock valued at $2,870,556,000 after purchasing an additional 110,886 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Down 0.0 %

NYSE BR opened at $210.56 on Wednesday. The stock has a market cap of $24.88 billion, a PE ratio of 35.93 and a beta of 1.05. The business has a 50 day moving average price of $210.53 and a two-hundred day moving average price of $203.45. 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 quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, beating 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 business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the business earned $3.21 EPS. The business’s revenue was up 5.7% on a year-over-year basis. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be paid a $0.88 dividend. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, September 12th. This represents a $3.52 annualized dividend and a dividend yield of 1.67%. Broadridge Financial Solutions’s payout ratio is 60.07%.

Analysts Set New Price Targets

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

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Laura Matlin sold 673 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, President Christopher John Perry sold 17,534 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total value of $3,741,930.94. Following the completion of the sale, the president now owns 50,237 shares of the company’s stock, valued at approximately $10,721,078.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Laura Matlin sold 673 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the sale, the vice president now owns 5,530 shares in the company, valued at approximately $1,194,480. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 134,386 shares of company stock valued at $28,112,824. Insiders own 1.60% of the company’s stock.

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.