EP Wealth Advisors LLC Sells 2,334 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

EP Wealth Advisors LLC lowered its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 27.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,228 shares of the business services provider’s stock after selling 2,334 shares during the quarter. EP Wealth Advisors LLC’s holdings in Broadridge Financial Solutions were worth $1,339,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bogart Wealth LLC lifted its stake in shares of Broadridge Financial Solutions by 384.0% during the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 96 shares during the period. EdgeRock Capital LLC acquired a new position in Broadridge Financial Solutions during the 2nd quarter valued at about $32,000. Rothschild Investment LLC bought a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at about $32,000. True Wealth Design LLC grew its position in shares of Broadridge Financial Solutions by 2,028.6% during the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after buying an additional 142 shares during the period. Finally, Family Firm Inc. bought a new stake in shares of Broadridge Financial Solutions during the second quarter worth approximately $37,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BR. JPMorgan Chase & Co. lifted their target price 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. UBS Group started coverage on Broadridge Financial Solutions in a research note on Thursday, November 21st. They set a “neutral” rating and a $250.00 price objective for the company. StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Morgan Stanley raised their target price on 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, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Broadridge Financial Solutions presently has a consensus rating of “Hold” and an average target price of $222.43.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,880 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $227.02, for a total transaction of $880,837.60. Following the sale, the director now directly owns 27,788 shares of the company’s stock, valued at $6,308,431.76. The trade was a 12.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Thomas P. Carey sold 10,757 shares of Broadridge Financial Solutions stock in a transaction dated 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 completion of the sale, the vice president now directly owns 12,689 shares in the company, valued at approximately $2,878,118.98. This represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,532 shares of company stock valued at $12,264,846 over the last three months. Company insiders own 1.30% of the company’s stock.

Broadridge Financial Solutions Trading Down 0.7 %

NYSE:BR opened at $233.71 on Tuesday. The business’s 50-day simple moving average is $222.78 and its 200-day simple moving average is $211.94. Broadridge Financial Solutions, Inc. has a fifty-two week low of $188.30 and a fifty-two week high of $237.96. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. The stock has a market capitalization of $27.32 billion, a PE ratio of 40.43 and a beta of 1.07.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the company earned $1.09 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. Sell-side analysts expect that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.51%. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 60.90%.

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.