Strategy Asset Managers LLC Trims Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Strategy Asset Managers LLC lowered its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 9.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,699 shares of the business services provider’s stock after selling 185 shares during the quarter. Strategy Asset Managers LLC’s holdings in Broadridge Financial Solutions were worth $365,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Prospera Private Wealth LLC bought a new position in Broadridge Financial Solutions during the third quarter worth $51,000. PNC Financial Services Group Inc. boosted its holdings in shares of Broadridge Financial Solutions by 1.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 49,948 shares of the business services provider’s stock valued at $10,740,000 after buying an additional 504 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Broadridge Financial Solutions during the 3rd quarter valued at about $44,746,000. Meeder Asset Management Inc. raised its stake in Broadridge Financial Solutions by 0.4% during the third quarter. Meeder Asset Management Inc. now owns 41,583 shares of the business services provider’s stock worth $8,942,000 after acquiring an additional 176 shares during the period. Finally, Caprock Group LLC lifted its holdings in Broadridge Financial Solutions by 12.0% in the third quarter. Caprock Group LLC now owns 4,113 shares of the business services provider’s stock worth $888,000 after acquiring an additional 440 shares during the last quarter. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Up 0.2 %

Shares of Broadridge Financial Solutions stock opened at $225.39 on Thursday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. Broadridge Financial Solutions, Inc. has a 1-year low of $183.60 and a 1-year high of $230.00. The business’s fifty day moving average price is $216.78 and its two-hundred day moving average price is $208.75. The company has a market capitalization of $26.35 billion, a P/E ratio of 38.99 and a beta of 1.05.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The company’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business earned $1.09 earnings per share. As a group, research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio is currently 60.90%.

Insider Activity

In other news, VP Thomas P. Carey sold 10,757 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $226.82, for a total value of $2,439,902.74. Following the completion of the sale, the vice president now owns 12,689 shares in the company, valued at $2,878,118.98. This represents a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Christopher John Perry sold 17,534 shares of the firm’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 transaction, the president now directly owns 50,237 shares of the company’s stock, valued at $10,721,078.17. This represents a 25.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 109,033 shares of company stock worth $23,382,322 over the last three months. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

BR has been the subject of several recent research reports. JPMorgan Chase & Co. upped their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Royal Bank of Canada reissued an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Finally, Morgan Stanley upped their price target on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Broadridge Financial Solutions currently has an average rating of “Hold” and an average price target of $217.83.

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.