Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Brady Family Wealth LLC

Brady Family Wealth LLC lessened its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.7% during the third quarter, HoldingsChannel reports. The firm owned 28,574 shares of the business services provider’s stock after selling 482 shares during the period. Broadridge Financial Solutions accounts for 1.8% of Brady Family Wealth LLC’s portfolio, making the stock its 17th largest position. Brady Family Wealth LLC’s holdings in Broadridge Financial Solutions were worth $6,144,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Broadridge Financial Solutions by 0.3% during the first quarter. Vanguard Group Inc. now owns 13,991,206 shares of the business services provider’s stock worth $2,866,238,000 after purchasing an additional 39,537 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Broadridge Financial Solutions by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,168,197 shares of the business services provider’s stock worth $853,898,000 after purchasing an additional 28,180 shares in the last quarter. Capital International Investors increased its position in shares of Broadridge Financial Solutions by 0.3% during the first quarter. Capital International Investors now owns 3,061,983 shares of the business services provider’s stock worth $627,278,000 after acquiring an additional 7,970 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Broadridge Financial Solutions by 3.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,496,678 shares of the business services provider’s stock worth $306,609,000 after acquiring an additional 43,958 shares during the last quarter. Finally, Bahl & Gaynor Inc. increased its position in shares of Broadridge Financial Solutions by 0.6% during the second quarter. Bahl & Gaynor Inc. now owns 1,108,867 shares of the business services provider’s stock worth $218,447,000 after acquiring an additional 6,634 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Up 0.2 %

Shares of Broadridge Financial Solutions stock opened at $221.91 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. The business’s 50 day simple moving average is $212.35 and its 200-day simple moving average is $204.83. The stock has a market capitalization of $26.23 billion, a price-to-earnings ratio of 37.87 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a twelve month low of $166.73 and a twelve month 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. The business had revenue of $1.94 billion for 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%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.21 EPS. Equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were 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 1.59%. The ex-dividend date was Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 60.07%.

Analyst Upgrades and Downgrades

BR has been the topic of a number of analyst reports. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada lifted their target price on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Broadridge Financial Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $213.33.

Insider Activity at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 17,534 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, President Christopher John Perry sold 17,534 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard J. Daly sold 21,938 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chairman now owns 105,094 shares in the company, valued at approximately $21,823,820.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 134,386 shares of company stock worth $28,112,824 in the last three months. 1.60% of the stock is owned by company insiders.

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.