Cynosure Group LLC Sells 9,569 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Cynosure Group LLC reduced its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 84.0% in the third quarter, Holdings Channel reports. The fund owned 1,820 shares of the business services provider’s stock after selling 9,569 shares during the quarter. Cynosure Group LLC’s holdings in Broadridge Financial Solutions were worth $391,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Bogart Wealth LLC boosted its holdings in Broadridge Financial Solutions by 384.0% in the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after buying an additional 96 shares during the period. EdgeRock Capital LLC purchased a new position in shares of Broadridge Financial Solutions in the second quarter valued at $32,000. Rothschild Investment LLC bought a new stake in shares of Broadridge Financial Solutions during the 2nd quarter valued at $32,000. New Covenant Trust Company N.A. purchased a new stake in Broadridge Financial Solutions during the 1st quarter worth about $34,000. Finally, Family Firm Inc. bought a new position in Broadridge Financial Solutions in the 2nd quarter worth about $37,000. Institutional investors own 90.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BR shares. Royal Bank of Canada reissued an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. JPMorgan Chase & Co. raised their price target 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 shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Morgan Stanley increased 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 report on Wednesday, November 6th. Finally, UBS Group began coverage on Broadridge Financial Solutions in a report on Thursday, November 21st. They set a “neutral” rating and a $250.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $222.43.

Broadridge Financial Solutions Trading Down 0.3 %

BR opened at $235.80 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 one year low of $186.19 and a one year high of $237.74. The firm has a market capitalization of $27.56 billion, a price-to-earnings ratio of 40.80 and a beta of 1.05. The business has a 50 day simple moving average of $218.43 and a two-hundred day simple moving average of $209.84.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.03. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.09 EPS. Analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.90%.

Insider Transactions at Broadridge Financial Solutions

In other news, insider Douglas Richard Deschutter sold 24,185 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $220.21, for a total value of $5,325,778.85. Following the sale, the insider now directly owns 27,137 shares of the company’s stock, valued at approximately $5,975,838.77. This represents a 47.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Thomas P. Carey sold 10,757 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $226.82, for a total value of $2,439,902.74. Following the transaction, the vice president now owns 12,689 shares of the company’s stock, valued at $2,878,118.98. The trade was a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,294 shares of company stock valued at $16,944,095 in the last three months. 1.30% of the stock is currently owned by company insiders.

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.