Jensen Investment Management Inc. Reduces Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Jensen Investment Management Inc. reduced its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 5.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,643,215 shares of the business services provider’s stock after selling 95,065 shares during the period. Broadridge Financial Solutions accounts for 3.0% of Jensen Investment Management Inc.’s portfolio, making the stock its 16th biggest position. Jensen Investment Management Inc.’s holdings in Broadridge Financial Solutions were worth $353,341,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. NBC Securities Inc. raised its position in shares of Broadridge Financial Solutions by 0.8% during the 3rd quarter. NBC Securities Inc. now owns 5,951 shares of the business services provider’s stock valued at $1,279,000 after acquiring an additional 45 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Broadridge Financial Solutions by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 10,155 shares of the business services provider’s stock valued at $2,001,000 after buying an additional 50 shares during the period. Garrison Asset Management LLC grew its position in shares of Broadridge Financial Solutions by 0.3% during the 2nd quarter. Garrison Asset Management LLC now owns 17,943 shares of the business services provider’s stock valued at $3,535,000 after buying an additional 50 shares during the last quarter. TIAA Trust National Association raised its stake in Broadridge Financial Solutions by 1.0% during the first quarter. TIAA Trust National Association now owns 5,469 shares of the business services provider’s stock worth $1,120,000 after acquiring an additional 52 shares during the period. Finally, Brighton Jones LLC lifted its holdings in Broadridge Financial Solutions by 2.5% in the second quarter. Brighton Jones LLC now owns 2,173 shares of the business services provider’s stock worth $428,000 after acquiring an additional 52 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 31,539 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the completion of the sale, the president now directly owns 67,215 shares of the company’s stock, valued at $13,938,374.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, President Christopher John Perry sold 31,539 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total value of $6,540,242.43. Following the completion of the sale, the president now owns 67,215 shares in the company, valued at approximately $13,938,374.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas Richard Deschutter sold 24,185 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the transaction, the insider now owns 27,137 shares in the company, valued at approximately $5,975,838.77. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 157,898 shares of company stock valued at $33,293,234. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday. Morgan Stanley boosted their price target on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a report on Wednesday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Four equities 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, the company currently has a consensus rating of “Hold” and a consensus target price of $217.83.

Broadridge Financial Solutions Price Performance

BR stock traded up $4.03 during trading on Friday, hitting $225.21. The company had a trading volume of 466,059 shares, compared to its average volume of 452,252. The business has a 50 day moving average of $214.29 and a 200 day moving average of $206.98. The firm has a market capitalization of $26.32 billion, a price-to-earnings ratio of 38.96 and a beta of 1.05. The company has a current ratio of 1.39, a quick ratio of 1.08 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions, Inc. has a fifty-two week low of $175.21 and a fifty-two week high of $226.16.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.09 EPS. As a group, research analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current year.

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.