SG Americas Securities LLC Has $644,000 Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

SG Americas Securities LLC reduced its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 85.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,997 shares of the business services provider’s stock after selling 16,997 shares during the quarter. SG Americas Securities LLC’s holdings in Broadridge Financial Solutions were worth $644,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EdgeRock Capital LLC acquired a new position in Broadridge Financial Solutions in the second quarter valued at approximately $32,000. Rothschild Investment LLC acquired a new position in shares of Broadridge Financial Solutions during the second quarter worth approximately $32,000. New Covenant Trust Company N.A. acquired a new position in shares of Broadridge Financial Solutions during the first quarter worth approximately $34,000. Family Firm Inc. acquired a new position in shares of Broadridge Financial Solutions during the second quarter worth approximately $37,000. Finally, Anfield Capital Management LLC acquired a new position in shares of Broadridge Financial Solutions during the second quarter worth approximately $39,000. 90.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BR. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Royal Bank of Canada upped their target price on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $213.33.

Broadridge Financial Solutions Trading Up 0.3 %

Shares of Broadridge Financial Solutions stock opened at $221.51 on Tuesday. The company has a market capitalization of $26.18 billion, a P/E ratio of 37.80 and a beta of 1.05. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. The stock has a fifty day simple moving average of $212.28 and a 200 day simple moving average of $204.71. Broadridge Financial Solutions, Inc. has a 12-month low of $166.73 and a 12-month high of $223.81.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.21 EPS. On average, sell-side analysts anticipate 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 was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Thursday, September 12th. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s dividend payout ratio is 60.07%.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 25,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the transaction, the chief executive officer now owns 200,675 shares of the company’s stock, valued at $41,963,149.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, President Christopher John Perry sold 17,534 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the transaction, the president now owns 50,237 shares of the company’s stock, valued at $10,721,078.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy C. Gokey sold 25,000 shares of the company’s stock in a transaction on 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 directly owns 200,675 shares in the company, valued at $41,963,149.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,386 shares of company stock worth $28,112,824 in the last quarter. 1.60% of the stock is currently owned by company 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.