NewEdge Advisors LLC Sells 2,382 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

NewEdge Advisors LLC decreased its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 12.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,877 shares of the business services provider’s stock after selling 2,382 shares during the quarter. NewEdge Advisors LLC’s holdings in Broadridge Financial Solutions were worth $3,325,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Texas Capital Bank Wealth Management Services Inc boosted its position in Broadridge Financial Solutions by 9.7% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 1,735 shares of the business services provider’s stock worth $342,000 after purchasing an additional 154 shares during the period. Susquehanna Fundamental Investments LLC boosted its position in Broadridge Financial Solutions by 358.9% during the second quarter. Susquehanna Fundamental Investments LLC now owns 30,887 shares of the business services provider’s stock worth $6,085,000 after purchasing an additional 24,157 shares during the period. Scientech Research LLC bought a new stake in Broadridge Financial Solutions during the second quarter worth approximately $328,000. Mackenzie Financial Corp boosted its position in Broadridge Financial Solutions by 0.5% during the second quarter. Mackenzie Financial Corp now owns 383,765 shares of the business services provider’s stock worth $75,602,000 after purchasing an additional 1,997 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Broadridge Financial Solutions by 0.7% during the second quarter. The Manufacturers Life Insurance Company now owns 71,573 shares of the business services provider’s stock worth $14,100,000 after purchasing an additional 524 shares during the period. Institutional investors own 90.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BR shares. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. increased their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Royal Bank of Canada increased their price objective on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, DA Davidson reissued a “neutral” rating and issued a $185.00 price objective 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 assigned a buy rating to the stock. According to MarketBeat, Broadridge Financial Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $213.33.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 25,000 shares of Broadridge Financial Solutions stock in a transaction on Friday, August 16th. The stock was sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the completion of the transaction, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at $41,963,149.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 25,000 shares of Broadridge Financial Solutions stock in a transaction on Friday, August 16th. The stock was sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the completion of the transaction, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at $41,963,149.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Richard J. Daly sold 21,938 shares of Broadridge Financial Solutions stock in a transaction on Friday, September 6th. The shares were sold at an average price of $207.66, for a total value of $4,555,645.08. Following the transaction, the chairman now directly owns 105,094 shares of the company’s stock, valued at $21,823,820.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 134,386 shares of company stock valued at $28,112,824. 1.60% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Stock Down 0.4 %

Shares of BR stock opened at $213.75 on Thursday. The stock has a market cap of $25.26 billion, a P/E ratio of 36.48 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a one year low of $166.73 and a one year high of $223.81. The stock has a fifty day moving average price of $211.26 and a 200 day moving average price of $203.82. 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 issued its earnings results on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, topping the consensus estimate of $3.49 by $0.01. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. Broadridge Financial Solutions’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the business earned $3.21 earnings per share. Analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share 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 given a $0.88 dividend. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a yield of 1.65%. The ex-dividend date is Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 60.07%.

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.