Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by EP Wealth Advisors LLC

EP Wealth Advisors LLC trimmed its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 8.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,562 shares of the business services provider’s stock after selling 811 shares during the period. EP Wealth Advisors LLC’s holdings in Broadridge Financial Solutions were worth $1,687,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BR. Confluence Investment Management LLC purchased a new position in shares of Broadridge Financial Solutions during the first quarter valued at approximately $144,033,000. Veritas Investment Partners UK Ltd. boosted its holdings in shares of 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 grew its position in shares of Broadridge Financial Solutions by 1,966.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 133,909 shares of the business services provider’s stock valued at $27,552,000 after purchasing an additional 127,428 shares during the period. Vanguard Group Inc. increased its stake in Broadridge Financial Solutions by 0.8% in the fourth 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. Finally, Morningstar Investment Services LLC lifted its position in Broadridge Financial Solutions by 95.7% during the fourth quarter. Morningstar Investment Services LLC now owns 189,737 shares of the business services provider’s stock worth $39,053,000 after buying an additional 92,763 shares during the period. 90.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. DA Davidson restated a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. 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, StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Four investment 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, Broadridge Financial Solutions presently has an average rating of “Moderate Buy” and an average price target of $213.33.

Broadridge Financial Solutions Trading Down 0.2 %

NYSE:BR opened at $214.70 on Wednesday. Broadridge Financial Solutions, Inc. has a 12 month low of $166.73 and a 12 month high of $223.81. The business’s 50-day moving average is $211.26 and its two-hundred day moving average is $203.82. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $25.37 billion, a PE ratio of 36.64 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, topping the consensus estimate of $3.49 by $0.01. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the company posted $3.21 EPS. Broadridge Financial Solutions’s revenue for the quarter was up 5.7% on a year-over-year basis. Research 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 company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued 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 positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.07%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 25,000 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at approximately $41,963,149.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Timothy C. Gokey sold 25,000 shares of the business’s 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 legal filing with the SEC, which is available at this hyperlink. Also, VP Laura Matlin sold 673 shares of the firm’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 of the company’s stock, valued at approximately $1,194,480. The disclosure for this sale can be found here. Insiders have sold 134,386 shares of company stock valued at $28,112,824 in 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.