Ashton Thomas Private Wealth LLC Sells 581 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Ashton Thomas Private Wealth LLC lessened its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 17.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,720 shares of the business services provider’s stock after selling 581 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Broadridge Financial Solutions were worth $536,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BR. New England Research & Management Inc. acquired a new stake in Broadridge Financial Solutions in the first quarter valued at $1,465,000. Bank of Nova Scotia raised its position in shares of Broadridge Financial Solutions by 642.3% during the fourth quarter. Bank of Nova Scotia now owns 81,202 shares of the business services provider’s stock worth $16,707,000 after acquiring an additional 70,263 shares during the last quarter. UBS Group AG lifted its stake in shares of Broadridge Financial Solutions by 8.2% in the fourth quarter. UBS Group AG now owns 186,444 shares of the business services provider’s stock worth $38,361,000 after acquiring an additional 14,147 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Broadridge Financial Solutions by 108.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 83,923 shares of the business services provider’s stock valued at $17,192,000 after acquiring an additional 43,710 shares during the last quarter. Finally, Tidal Investments LLC increased its position in Broadridge Financial Solutions by 99.6% during the 1st quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider’s stock valued at $3,627,000 after purchasing an additional 8,837 shares during the period. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $211.25 on Thursday. Broadridge Financial Solutions, Inc. has a one year low of $166.73 and a one year high of $223.81. The company has a market cap of $24.65 billion, a PE ratio of 36.05 and a beta of 1.05. The stock has a 50-day moving average of $209.30 and a 200-day moving average of $202.98. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter last year, the firm posted $3.21 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities research 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 disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be issued a dividend of $0.88 per share. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 54.61%.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Chairman Richard J. Daly sold 21,938 shares of Broadridge Financial Solutions stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the completion of the transaction, the chairman now owns 105,094 shares in the company, valued at approximately $21,823,820.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Broadridge Financial Solutions news, VP Laura Matlin sold 673 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard J. Daly sold 21,938 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the transaction, the chairman now directly owns 105,094 shares in the company, valued at approximately $21,823,820.04. The disclosure for this sale can be found here. Insiders sold a total of 116,852 shares of company stock valued at $24,370,893 over the last three months. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.