KBC Group NV Sells 1,771 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

KBC Group NV cut its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 6.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,131 shares of the business services provider’s stock after selling 1,771 shares during the quarter. KBC Group NV’s holdings in Broadridge Financial Solutions were worth $5,619,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Huntington National Bank grew its holdings in shares of Broadridge Financial Solutions by 2.8% in the 3rd quarter. Huntington National Bank now owns 2,233 shares of the business services provider’s stock worth $480,000 after purchasing an additional 61 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in Broadridge Financial Solutions by 3.9% in the third quarter. Oppenheimer & Co. Inc. now owns 4,847 shares of the business services provider’s stock valued at $1,042,000 after buying an additional 180 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in Broadridge Financial Solutions by 1.5% during the third quarter. Oppenheimer Asset Management Inc. now owns 12,892 shares of the business services provider’s stock worth $2,772,000 after buying an additional 194 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Broadridge Financial Solutions by 6.0% during the third quarter. Victory Capital Management Inc. now owns 50,736 shares of the business services provider’s stock worth $10,910,000 after buying an additional 2,871 shares in the last quarter. Finally, Aptus Capital Advisors LLC raised its stake in shares of Broadridge Financial Solutions by 67.9% in the third quarter. Aptus Capital Advisors LLC now owns 83,196 shares of the business services provider’s stock valued at $17,890,000 after acquiring an additional 33,636 shares during the last quarter. Institutional investors own 90.03% of the company’s stock.

Insider Activity

In other news, Director Maura A. Markus sold 3,880 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the completion of the transaction, the director now directly owns 27,788 shares of the company’s stock, valued at $6,308,431.76. This represents a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Leslie A. Brun sold 5,739 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $210.05, for a total value of $1,205,476.95. Following the completion of the sale, the director now directly owns 77,318 shares in the company, valued at approximately $16,240,645.90. This represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 115,534 shares of company stock worth $24,748,962 over the last quarter. 1.30% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Stock Up 0.1 %

Shares of NYSE BR opened at $227.78 on Monday. The firm has a 50 day moving average price of $215.95 and a 200 day moving average price of $208.23. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. The stock has a market cap of $26.63 billion, a P/E ratio of 39.41 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 52-week low of $180.31 and a 52-week high of $230.00.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The company’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 earnings per share. Analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Friday, December 13th. Broadridge Financial Solutions’s payout ratio is currently 60.90%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BR. Royal Bank of Canada reiterated an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Morgan Stanley increased their price objective on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 6th. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, JPMorgan Chase & Co. increased their price target 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. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $217.83.

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.