SRN Advisors LLC Sells 8,058 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

SRN Advisors LLC trimmed its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 67.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,866 shares of the business services provider’s stock after selling 8,058 shares during the period. SRN Advisors LLC’s holdings in Broadridge Financial Solutions were worth $831,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BR. Barnes Pettey Financial Advisors LLC acquired a new position in Broadridge Financial Solutions during the 3rd quarter worth $215,000. Goldstein Advisors LLC bought a new position in Broadridge Financial Solutions in the third quarter valued at about $207,000. GHP Investment Advisors Inc. increased its position in Broadridge Financial Solutions by 2.7% in the third quarter. GHP Investment Advisors Inc. now owns 41,132 shares of the business services provider’s stock worth $8,845,000 after purchasing an additional 1,094 shares during the period. Covenant Partners LLC bought a new stake in Broadridge Financial Solutions during the 3rd quarter worth about $209,000. Finally, PFG Investments LLC lifted its position in Broadridge Financial Solutions by 48.2% during the 3rd quarter. PFG Investments LLC now owns 4,423 shares of the business services provider’s stock valued at $951,000 after purchasing an additional 1,438 shares during the period. 90.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BR has been the subject of several analyst reports. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Thursday. 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. Finally, Royal Bank of Canada increased their price target on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $213.33.

Insider Transactions at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $209.11, for a total value of $5,227,750.00. Following the completion of the transaction, the chief executive officer now directly owns 200,675 shares in the company, valued at approximately $41,963,149.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, President Christopher John Perry sold 17,534 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total value of $3,741,930.94. Following the sale, the president now directly owns 50,237 shares in the company, valued at $10,721,078.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Timothy C. Gokey sold 25,000 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $209.11, for a total value of $5,227,750.00. Following the completion of the sale, the chief executive officer now directly owns 200,675 shares in the company, valued at approximately $41,963,149.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,386 shares of company stock valued at $28,112,824 over the last 90 days. 1.60% of the stock is owned by company insiders.

Broadridge Financial Solutions Stock Down 1.3 %

Broadridge Financial Solutions stock opened at $214.03 on Friday. The firm has a market capitalization of $25.29 billion, a price-to-earnings ratio of 36.52 and a beta of 1.05. The company’s 50 day simple moving average is $213.32 and its 200 day simple moving average is $205.64. 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, Inc. has a fifty-two week low of $166.73 and a fifty-two week high of $224.32.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the firm posted $3.21 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a $0.88 dividend. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend was Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio 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.