Barclays PLC Reduces Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Barclays PLC reduced its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,608,021 shares of the business services provider’s stock after selling 54,032 shares during the period. Barclays PLC owned about 1.38% of Broadridge Financial Solutions worth $345,771,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bogart Wealth LLC boosted 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 purchasing an additional 96 shares during the period. True Wealth Design LLC boosted its holdings in shares of Broadridge Financial Solutions by 2,028.6% in the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 142 shares during the period. EdgeRock Capital LLC purchased a new position in shares of Broadridge Financial Solutions during the second quarter worth approximately $32,000. Rothschild Investment LLC acquired a new position in shares of Broadridge Financial Solutions in the 2nd quarter valued at $32,000. Finally, Hazlett Burt & Watson Inc. purchased a new stake in Broadridge Financial Solutions in the 3rd quarter valued at $38,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insider Activity

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 10,757 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the transaction, the vice president now directly owns 12,689 shares of the company’s stock, valued at $2,878,118.98. The trade was a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Maura A. Markus sold 3,880 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were 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 directly owns 27,788 shares in the company, valued at approximately $6,308,431.76. This represents a 12.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,532 shares of company stock valued at $12,264,846 in the last 90 days. 1.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. UBS Group began coverage on Broadridge Financial Solutions in a report on Thursday, November 21st. They set a “neutral” rating and a $250.00 price target for the company. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. JPMorgan Chase & Co. increased their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Morgan Stanley lifted their price objective on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $246.00 target price on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $222.43.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $233.71 on Tuesday. 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 has a market cap of $27.32 billion, a price-to-earnings ratio of 40.43 and a beta of 1.07. The company’s 50-day moving average price is $222.78 and its 200 day moving average price is $211.94. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $237.96.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. The company had revenue of $1.42 billion for 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 firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 EPS. As a group, research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.52 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.51%. The ex-dividend date is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 60.90%.

Broadridge Financial Solutions 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.