Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 661,413 shares of the business services provider’s stock after selling 1,209 shares during the period. Charles Schwab Investment Management Inc. owned 0.57% of Broadridge Financial Solutions worth $142,224,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC grew its position in Broadridge Financial Solutions by 99.6% in the 1st quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider’s stock worth $3,627,000 after purchasing an additional 8,837 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Broadridge Financial Solutions by 5.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 55,494 shares of the business services provider’s stock worth $11,329,000 after purchasing an additional 2,685 shares during the last quarter. Atria Investments Inc boosted its holdings in Broadridge Financial Solutions by 9.7% during the third quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock worth $6,373,000 after buying an additional 2,610 shares during the last quarter. BDF Gestion acquired a new position in Broadridge Financial Solutions during the second quarter valued at approximately $3,954,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Broadridge Financial Solutions by 22.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,504 shares of the business services provider’s stock valued at $7,191,000 after buying an additional 6,690 shares during the period. Institutional investors own 90.03% of the company’s stock.

Insider Activity

In other Broadridge Financial Solutions news, President Christopher John Perry sold 17,534 shares of the firm’s stock in a transaction on 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 directly owns 50,237 shares in the company, valued at approximately $10,721,078.17. This trade represents a 25.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Thomas P. Carey sold 10,757 shares of Broadridge Financial Solutions stock in a transaction on Monday, November 11th. The shares were sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the completion of the sale, the vice president now directly owns 12,689 shares of the company’s stock, valued at approximately $2,878,118.98. This trade represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,294 shares of company stock valued at $16,944,095 over the last quarter. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BR shares. 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. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. UBS Group initiated coverage on shares of Broadridge Financial Solutions in a research note on Thursday. They issued a “neutral” rating and a $250.00 price target for the company. Morgan Stanley lifted their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. 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 report on Tuesday, August 20th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Broadridge Financial Solutions presently has a consensus rating of “Hold” and a consensus price target of $222.43.

Broadridge Financial Solutions Stock Up 1.2 %

Shares of NYSE BR opened at $230.24 on Monday. The stock’s fifty day moving average is $217.48 and its 200 day moving average is $209.27. Broadridge Financial Solutions, Inc. has a 52 week low of $185.30 and a 52 week high of $230.30. 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 capitalization of $26.91 billion, a P/E ratio of 39.83 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.03. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. Broadridge Financial Solutions’s revenue was down .6% compared to the same quarter last year. During the same period last year, the firm posted $1.09 earnings per share. Sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.53%. Broadridge Financial Solutions’s dividend payout ratio is currently 60.90%.

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.