Broadridge Financial Solutions, Inc. (NYSE:BR) Stock Position Decreased by Strategy Asset Managers LLC

Strategy Asset Managers LLC cut its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 9.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,699 shares of the business services provider’s stock after selling 185 shares during the period. Strategy Asset Managers LLC’s holdings in Broadridge Financial Solutions were worth $365,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BR. Bogart Wealth LLC lifted its position in shares of Broadridge Financial Solutions by 384.0% in the 3rd 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 in the last quarter. EdgeRock Capital LLC purchased a new stake in shares of Broadridge Financial Solutions in the second quarter valued at $32,000. Rothschild Investment LLC acquired a new stake in shares of Broadridge Financial Solutions in the second quarter worth $32,000. New Covenant Trust Company N.A. purchased a new position in shares of Broadridge Financial Solutions during the first quarter valued at $34,000. Finally, Family Firm Inc. acquired a new position in Broadridge Financial Solutions during the second quarter valued at $37,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Broadridge Financial Solutions

In related news, Director Maura A. Markus sold 3,880 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the completion of the transaction, the director now owns 27,788 shares of the company’s stock, valued at approximately $6,308,431.76. The trade was a 12.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $209.31, for a total value of $5,232,750.00. Following the sale, the chief executive officer now owns 206,349 shares of the company’s stock, valued at approximately $43,190,909.19. The trade was a 10.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 109,033 shares of company stock worth $23,382,322. 1.30% of the stock is owned by insiders.

Broadridge Financial Solutions Price Performance

Shares of BR opened at $225.39 on Thursday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39. The firm has a market cap of $26.35 billion, a PE ratio of 38.99 and a beta of 1.05. The firm’s 50 day moving average price is $216.78 and its 200 day moving average price is $208.75. Broadridge Financial Solutions, Inc. has a twelve month low of $183.60 and a twelve month high of $230.00.

Broadridge Financial Solutions (NYSE:BR) last posted its 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 return on equity of 41.79% and a net margin of 10.57%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the company earned $1.09 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. As a group, research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS 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 given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio is 60.90%.

Analyst Ratings Changes

A number of equities research analysts have commented on BR shares. JPMorgan Chase & Co. raised their price objective 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. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Morgan Stanley upped their price objective on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $217.83.

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.