Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Appleton Partners Inc. MA

Appleton Partners Inc. MA cut its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,330 shares of the business services provider’s stock after selling 468 shares during the quarter. Appleton Partners Inc. MA’s holdings in Broadridge Financial Solutions were worth $2,731,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Stifel Financial Corp raised its stake in Broadridge Financial Solutions by 1,700.7% during the 3rd quarter. Stifel Financial Corp now owns 1,542,507 shares of the business services provider’s stock valued at $276,194,000 after acquiring an additional 1,456,847 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Broadridge Financial Solutions by 124.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 687,830 shares of the business services provider’s stock valued at $123,156,000 after acquiring an additional 381,882 shares during the last quarter. APG Asset Management US Inc. purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $70,498,000. Norges Bank purchased a new position in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $67,605,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Broadridge Financial Solutions by 28.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,452,720 shares of the business services provider’s stock worth $286,360,000 after buying an additional 323,051 shares in the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 2,500 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.40, for a total transaction of $501,000.00. Following the sale, the vice president now owns 9,361 shares in the company, valued at $1,875,944.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Thomas P. Carey sold 2,500 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.40, for a total transaction of $501,000.00. Following the sale, the vice president now owns 9,361 shares in the company, valued at $1,875,944.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert N. Duelks sold 3,473 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total value of $687,862.38. Following the sale, the director now owns 22,588 shares in the company, valued at approximately $4,473,779.28. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BR. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Friday. DA Davidson reissued a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Finally, Evercore ISI reissued an “outperform” rating and set a $230.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $206.67.

Broadridge Financial Solutions Price Performance

NYSE BR traded up $0.15 during mid-day trading on Tuesday, hitting $197.80. The stock had a trading volume of 58,015 shares, compared to its average volume of 510,143. Broadridge Financial Solutions, Inc. has a 52-week low of $157.00 and a 52-week high of $210.24. The company has a market cap of $23.38 billion, a price-to-earnings ratio of 33.74 and a beta of 1.03. The company has a 50 day simple moving average of $197.73 and a 200 day simple moving average of $199.58. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Wednesday, May 8th. The business services provider reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. Broadridge Financial Solutions’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.05 EPS. Equities analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 54.61%.

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.