Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. lowered its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 50.8% in the third quarter, HoldingsChannel.com reports. The fund owned 12,959 shares of the business services provider’s stock after selling 13,389 shares during the quarter. Logan Capital Management Inc.’s holdings in Broadridge Financial Solutions were worth $2,787,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Swedbank AB lifted its stake in Broadridge Financial Solutions by 1.0% in the 2nd quarter. Swedbank AB now owns 24,420 shares of the business services provider’s stock valued at $4,811,000 after buying an additional 252 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in shares of Broadridge Financial Solutions during the second quarter valued at $44,000. Miracle Mile Advisors LLC purchased a new stake in Broadridge Financial Solutions during the 2nd quarter worth about $220,000. Blue Trust Inc. increased its position in Broadridge Financial Solutions by 29.5% during the 2nd quarter. Blue Trust Inc. now owns 829 shares of the business services provider’s stock worth $170,000 after purchasing an additional 189 shares in the last quarter. Finally, Everpar Advisors LLC raised its stake in Broadridge Financial Solutions by 12.9% in the 2nd quarter. Everpar Advisors LLC now owns 2,234 shares of the business services provider’s stock valued at $440,000 after purchasing an additional 256 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. UBS Group assumed coverage on shares of Broadridge Financial Solutions in a research note on Thursday, November 21st. They issued a “neutral” rating and a $250.00 target price for the company. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday. DA Davidson raised their price objective on Broadridge Financial Solutions from $210.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Broadridge Financial Solutions has a consensus rating of “Hold” and a consensus target price of $226.71.

Insider Activity

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,880 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $227.02, for a total value of $880,837.60. Following the completion of the transaction, the director now directly owns 27,788 shares of the company’s stock, valued at $6,308,431.76. This represents a 12.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Thomas P. Carey sold 15,710 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total value of $3,618,327.20. Following the sale, the vice president now owns 12,146 shares of the company’s stock, valued at $2,797,466.72. This represents a 56.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,532 shares of company stock worth $12,264,846. 1.30% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Trading Down 0.6 %

Shares of BR opened at $233.53 on Friday. The firm has a market capitalization of $27.30 billion, a P/E ratio of 40.40 and a beta of 1.07. Broadridge Financial Solutions, Inc. has a twelve month low of $188.30 and a twelve month high of $237.96. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. The stock’s fifty day simple moving average is $224.43 and its 200 day simple moving average is $212.75.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the firm posted $1.09 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions’s payout ratio is 60.90%.

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.