Pitcairn Co. Has $515,000 Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Pitcairn Co. lowered its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 18.0% in the third quarter, HoldingsChannel reports. The fund owned 2,393 shares of the business services provider’s stock after selling 525 shares during the period. Pitcairn Co.’s holdings in Broadridge Financial Solutions were worth $515,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Broadridge Financial Solutions in the third quarter valued at approximately $44,746,000. Assenagon Asset Management S.A. boosted its position in shares of Broadridge Financial Solutions by 3,197.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider’s stock worth $43,945,000 after purchasing an additional 198,169 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Broadridge Financial Solutions during the third quarter worth $274,650,000. Dimensional Fund Advisors LP increased its holdings in Broadridge Financial Solutions by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock valued at $185,417,000 after purchasing an additional 72,018 shares during the last quarter. Finally, Dearborn Partners LLC boosted its holdings in Broadridge Financial Solutions by 53.5% during the second quarter. Dearborn Partners LLC now owns 135,095 shares of the business services provider’s stock worth $26,614,000 after buying an additional 47,081 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Up 1.3 %

Shares of Broadridge Financial Solutions stock opened at $233.28 on Tuesday. The firm has a market cap of $27.27 billion, a PE ratio of 40.36 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 52-week low of $185.41 and a 52-week high of $234.45. The business’s 50 day simple moving average is $217.92 and its 200 day simple moving average is $209.55. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share 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 during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the firm earned $1.09 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. On average, analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a dividend of $0.88 per share. The ex-dividend date is Friday, December 13th. This represents a $3.52 annualized dividend and a yield of 1.51%. Broadridge Financial Solutions’s payout ratio is presently 60.90%.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, President Christopher John Perry sold 17,534 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the transaction, the president now owns 50,237 shares of the company’s stock, valued at $10,721,078.17. The trade was a 25.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard J. Daly sold 21,938 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $207.66, for a total value of $4,555,645.08. Following the completion of the sale, the chairman now directly owns 105,094 shares of the company’s stock, valued at approximately $21,823,820.04. The trade was a 17.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,294 shares of company stock valued at $16,944,095. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on BR. UBS Group initiated coverage on Broadridge Financial Solutions in a research note on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price target for the company. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Royal Bank of Canada reissued an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. 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 report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. lifted their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $222.43.

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.