Mattern Capital Management LLC Sells 182 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Mattern Capital Management LLC cut its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 44,364 shares of the business services provider’s stock after selling 182 shares during the quarter. Mattern Capital Management LLC’s holdings in Broadridge Financial Solutions were worth $8,740,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BR. Vanguard Group Inc. grew its stake in shares of Broadridge Financial Solutions by 0.3% during the first quarter. Vanguard Group Inc. now owns 13,991,206 shares of the business services provider’s stock worth $2,866,238,000 after purchasing an additional 39,537 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Broadridge Financial Solutions by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,168,197 shares of the business services provider’s stock worth $853,898,000 after buying an additional 28,180 shares during the period. Capital International Investors grew its position in shares of Broadridge Financial Solutions by 0.3% during the 1st quarter. Capital International Investors now owns 3,061,983 shares of the business services provider’s stock worth $627,278,000 after buying an additional 7,970 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Broadridge Financial Solutions by 3.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,496,678 shares of the business services provider’s stock valued at $306,609,000 after acquiring an additional 43,958 shares during the last quarter. Finally, Bahl & Gaynor Inc. raised its position in shares of Broadridge Financial Solutions by 1.9% in the 1st quarter. Bahl & Gaynor Inc. now owns 1,102,233 shares of the business services provider’s stock valued at $225,804,000 after acquiring an additional 20,023 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Insiders Place Their Bets

In other news, President Christopher John Perry sold 31,539 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total value of $6,540,242.43. Following the completion of the transaction, the president now owns 67,215 shares in the company, valued at approximately $13,938,374.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, President Christopher John Perry sold 31,539 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total value of $6,540,242.43. Following the completion of the sale, the president now owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction, the chief executive officer now owns 200,675 shares in the company, valued at $41,963,149.25. The disclosure for this sale can be found here. Insiders have sold 94,914 shares of company stock valued at $19,815,248 in the last three months. 1.60% of the stock is currently owned by corporate insiders.

Broadridge Financial Solutions Price Performance

BR stock opened at $211.88 on Thursday. The stock has a market cap of $25.04 billion, a PE ratio of 36.16 and a beta of 1.05. The stock has a 50-day moving average price of $208.02 and a two-hundred day moving average price of $202.53. Broadridge Financial Solutions, Inc. has a 1 year low of $166.73 and a 1 year high of $223.81. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55.

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

Broadridge Financial Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be paid a $0.88 dividend. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Thursday, September 12th. Broadridge Financial Solutions’s payout ratio is presently 60.07%.

Wall Street Analysts Forecast Growth

BR has been the subject of several recent analyst reports. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday, August 28th. Royal Bank of Canada raised their price objective on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. boosted 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. Finally, DA Davidson reaffirmed a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Broadridge Financial Solutions has an average rating of “Moderate Buy” and a consensus target price of $213.33.

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.