Broadridge Financial Solutions, Inc. $BR Holdings Lowered by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC trimmed its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 13.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,168 shares of the business services provider’s stock after selling 1,663 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Broadridge Financial Solutions were worth $2,714,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BR. 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 buying an additional 90 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Broadridge Financial Solutions in the 1st quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Broadridge Financial Solutions by 85.1% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 124 shares of the business services provider’s stock worth $30,000 after purchasing an additional 57 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd grew its stake in shares of Broadridge Financial Solutions by 450.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider’s stock worth $35,000 after purchasing an additional 117 shares during the last quarter. Finally, Olde Wealth Management LLC acquired a new position in shares of Broadridge Financial Solutions in the 1st quarter worth approximately $36,000. 90.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Timothy C. Gokey sold 84,571 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $259.53, for a total transaction of $21,948,711.63. Following the transaction, the chief executive officer directly owned 165,634 shares of the company’s stock, valued at approximately $42,986,992.02. The trade was a 33.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Christopher John Perry sold 7,036 shares of the business’s stock in a transaction that occurred on 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 transaction, the president directly owned 48,813 shares in the company, valued at $12,824,151.36. The trade was a 12.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,532 shares of company stock worth $38,417,208 over the last ninety days. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wall Street Zen cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday. UBS Group lifted their price objective 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Wednesday, October 8th. Morgan Stanley lifted their price objective on shares of Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Finally, Needham & Company LLC lifted their price objective on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $261.50.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock opened at $232.36 on Monday. The firm’s 50 day simple moving average is $243.96 and its 200-day simple moving average is $242.55. The company has a market cap of $27.12 billion, a P/E ratio of 32.77 and a beta of 0.95. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.98 and a quick ratio of 0.98. Broadridge Financial Solutions, Inc. has a fifty-two week low of $208.20 and a fifty-two week high of $271.91.

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

Broadridge Financial Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Thursday, September 11th were given a dividend of $0.975 per share. The ex-dividend date of this dividend was Thursday, September 11th. This is a boost 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%. Broadridge Financial Solutions’s payout ratio is presently 55.01%.

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.