Benjamin Edwards Inc. Reduces Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Benjamin Edwards Inc. cut its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,118 shares of the business services provider’s stock after selling 166 shares during the quarter. Benjamin Edwards Inc.’s holdings in Broadridge Financial Solutions were worth $1,205,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund lifted its holdings in Broadridge Financial Solutions by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 10,155 shares of the business services provider’s stock valued at $2,001,000 after purchasing an additional 50 shares during the last quarter. Garrison Asset Management LLC lifted its holdings in shares of Broadridge Financial Solutions by 0.3% in the second quarter. Garrison Asset Management LLC now owns 17,943 shares of the business services provider’s stock worth $3,535,000 after buying an additional 50 shares in the last quarter. Hutchens & Kramer Investment Management Group LLC lifted its holdings in shares of Broadridge Financial Solutions by 4.5% in the first quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,193 shares of the business services provider’s stock worth $242,000 after buying an additional 51 shares in the last quarter. TIAA Trust National Association lifted its holdings in shares of Broadridge Financial Solutions by 1.0% in the first quarter. TIAA Trust National Association now owns 5,469 shares of the business services provider’s stock worth $1,120,000 after buying an additional 52 shares in the last quarter. Finally, Brighton Jones LLC lifted its holdings in shares of Broadridge Financial Solutions by 2.5% in the second quarter. Brighton Jones LLC now owns 2,173 shares of the business services provider’s stock worth $428,000 after buying an additional 52 shares in the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Up 0.2 %

BR stock opened at $208.99 on Friday. 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 company’s 50 day moving average is $210.29 and its 200 day moving average is $203.28. The stock has a market cap of $24.70 billion, a price-to-earnings ratio of 35.66 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 1-year low of $166.73 and a 1-year high of $223.81.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results 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 net margin of 10.73% and a return on equity of 42.77%. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the business earned $3.21 earnings per share. The business’s quarterly revenue was up 5.7% on a year-over-year basis. Sell-side 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 declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be given 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 yield of 1.68%. The ex-dividend date of this dividend is Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.07%.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Laura Matlin sold 673 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction of $145,368.00. Following the transaction, the vice president now directly owns 5,530 shares in the company, valued at $1,194,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Broadridge Financial Solutions news, VP Laura Matlin sold 673 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction of $145,368.00. Following the transaction, the vice president now directly owns 5,530 shares in the company, valued at $1,194,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Christopher John Perry sold 17,534 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were 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 in the company, valued at $10,721,078.17. The disclosure for this sale can be found here. Insiders have sold 134,386 shares of company stock worth $28,112,824 over the last ninety days. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Royal Bank of Canada increased their price target on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. DA Davidson reissued a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Finally, StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $213.33.

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.