Gateway Advisory LLC Sells 80 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Gateway Advisory LLC reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,086 shares of the business services provider’s stock after selling 80 shares during the quarter. Gateway Advisory LLC’s holdings in Broadridge Financial Solutions were worth $608,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth approximately $67,605,000. UBS Group AG boosted its position in Broadridge Financial Solutions by 8.2% during the 4th quarter. UBS Group AG now owns 186,444 shares of the business services provider’s stock valued at $38,361,000 after acquiring an additional 14,147 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Broadridge Financial Solutions by 4.9% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 12,205 shares of the business services provider’s stock valued at $2,511,000 after acquiring an additional 572 shares in the last quarter. US Bancorp DE raised its position in shares of Broadridge Financial Solutions by 2.1% in the 4th quarter. US Bancorp DE now owns 52,727 shares of the business services provider’s stock worth $10,850,000 after acquiring an additional 1,107 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its position in shares of Broadridge Financial Solutions by 49.0% in the 4th quarter. Allianz Asset Management GmbH now owns 22,575 shares of the business services provider’s stock worth $4,645,000 after acquiring an additional 7,420 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Stock Up 1.1 %

NYSE:BR opened at $210.54 on Tuesday. The company’s 50 day moving average is $210.51 and its two-hundred day moving average is $203.40. The company has a market cap of $24.88 billion, a PE ratio of 35.93 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a twelve month low of $166.73 and a twelve month high of $223.81. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55.

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 for the quarter, beating analysts’ consensus estimates of $3.49 by $0.01. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.21 earnings per share. Analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued a dividend of $0.88 per share. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.67%. Broadridge Financial Solutions’s payout ratio is 60.07%.

Insider Activity at Broadridge Financial Solutions

In other news, VP Laura Matlin sold 673 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the sale, the vice president now directly owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. The transaction was disclosed in a legal filing 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 dated Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following 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 through the SEC website. Also, President Christopher John Perry sold 17,534 shares of the business’s stock in a transaction dated 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 transaction, the president now directly owns 50,237 shares of the company’s stock, valued at approximately $10,721,078.17. The disclosure for this sale can be found here. Insiders have sold a total of 134,386 shares of company stock worth $28,112,824 over the last quarter. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. DA Davidson reiterated a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. JPMorgan Chase & Co. raised their target price 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. Finally, Royal Bank of Canada upped their price target 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. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Broadridge Financial Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of $213.33.

About Broadridge Financial Solutions

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.