Broadridge Financial Solutions, Inc. $BR Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. lowered its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 4.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,799 shares of the business services provider’s stock after selling 77 shares during the quarter. Bridges Investment Management Inc.’s holdings in Broadridge Financial Solutions were worth $437,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. ORG Partners LLC raised its position in shares of Broadridge Financial Solutions by 360.0% during the 2nd quarter. ORG Partners LLC now owns 115 shares of the business services provider’s stock worth $28,000 after purchasing an additional 90 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in Broadridge Financial Solutions during the 1st quarter worth approximately $29,000. Continuum Advisory LLC increased its stake in Broadridge Financial Solutions by 48.4% during the 1st quarter. Continuum Advisory LLC now owns 141 shares of the business services provider’s stock worth $34,000 after buying an additional 46 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd raised its holdings in shares of Broadridge Financial Solutions by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 117 shares during the last quarter. Finally, Olde Wealth Management LLC purchased a new position in shares of Broadridge Financial Solutions in the first quarter valued at approximately $36,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 84,571 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $259.53, for a total transaction of $21,948,711.63. Following the completion of the transaction, the chief executive officer directly owned 165,634 shares in the company, valued at approximately $42,986,992.02. This represents a 33.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Christopher John Perry sold 7,036 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the completion of the sale, the president owned 48,813 shares in the company, valued at approximately $12,824,151.36. This trade represents a 12.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,532 shares of company stock worth $38,417,208. Corporate insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Trading Up 1.1%

Shares of BR opened at $228.97 on Friday. Broadridge Financial Solutions, Inc. has a 12-month low of $208.20 and a 12-month high of $271.91. The firm has a market capitalization of $26.73 billion, a P/E ratio of 32.30 and a beta of 0.95. The firm has a 50-day moving average price of $246.88 and a 200 day moving average price of $242.21. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.04.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share for the quarter. The company had revenue of $1.05 billion for the quarter. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. Sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th were given a $0.975 dividend. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. This represents a $3.90 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Thursday, September 11th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is presently 55.01%.

Analysts Set New Price Targets

Several brokerages recently commented on BR. Weiss Ratings reiterated a “buy (b)” rating on shares of Broadridge Financial Solutions in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. UBS Group raised their price target on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a “neutral” rating in a research note on Friday, August 8th. Needham & Company LLC upped their price objective on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Finally, Morgan Stanley increased their price objective on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $261.50.

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.