Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by LGT Financial Advisors LLC

LGT Financial Advisors LLC lessened its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 53.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 353 shares of the business services provider’s stock after selling 404 shares during the period. LGT Financial Advisors LLC’s holdings in Broadridge Financial Solutions were worth $69,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in BR. New England Research & Management Inc. purchased a new stake in Broadridge Financial Solutions in the 1st quarter valued at $1,465,000. Bank of Nova Scotia boosted its stake in shares of Broadridge Financial Solutions by 642.3% during the fourth quarter. Bank of Nova Scotia now owns 81,202 shares of the business services provider’s stock worth $16,707,000 after buying an additional 70,263 shares during the period. UBS Group AG grew its holdings in shares of Broadridge Financial Solutions by 8.2% during the fourth quarter. UBS Group AG now owns 186,444 shares of the business services provider’s stock worth $38,361,000 after buying an additional 14,147 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Broadridge Financial Solutions by 108.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 83,923 shares of the business services provider’s stock valued at $17,192,000 after acquiring an additional 43,710 shares during the period. Finally, Tidal Investments LLC raised its stake in Broadridge Financial Solutions by 99.6% during the 1st quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider’s stock valued at $3,627,000 after acquiring an additional 8,837 shares during the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insider Buying and Selling

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 25,000 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the sale, the chief executive officer now directly owns 200,675 shares in the company, valued at $41,963,149.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Laura Matlin sold 673 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of the transaction, the vice president now directly owns 5,530 shares in the company, valued at approximately $1,194,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $209.11, for a total value of $5,227,750.00. Following the sale, the chief executive officer now owns 200,675 shares in the company, valued at approximately $41,963,149.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 94,914 shares of company stock valued at $19,815,248. 1.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday, August 28th. DA Davidson restated a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Finally, Royal Bank of Canada raised their target price on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $213.33.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock opened at $210.82 on Friday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08. Broadridge Financial Solutions, Inc. has a one year low of $166.73 and a one year high of $223.81. The company has a market cap of $24.91 billion, a P/E ratio of 35.98 and a beta of 1.05. The business has a fifty day moving average of $208.25 and a two-hundred day moving average of $202.59.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the firm earned $3.21 earnings per share. The firm’s revenue was up 5.7% on a year-over-year basis. As a group, analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 earnings per share for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be paid a $0.88 dividend. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 60.07%.

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.