Meeder Advisory Services Inc. Cuts Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Meeder Advisory Services Inc. reduced its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 3.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,715 shares of the business services provider’s stock after selling 94 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Broadridge Financial Solutions were worth $584,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bogart Wealth LLC increased its stake in Broadridge Financial Solutions by 384.0% during the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. EdgeRock Capital LLC purchased a new stake in shares of Broadridge Financial Solutions during the second quarter valued at approximately $32,000. Rothschild Investment LLC purchased a new position in Broadridge Financial Solutions in the 2nd quarter worth approximately $32,000. New Covenant Trust Company N.A. bought a new position in Broadridge Financial Solutions in the 1st quarter valued at approximately $34,000. Finally, Family Firm Inc. purchased a new stake in Broadridge Financial Solutions during the 2nd quarter valued at $37,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

BR opened at $224.84 on Wednesday. Broadridge Financial Solutions, Inc. has a 12-month low of $182.57 and a 12-month high of $230.00. The company has a market cap of $26.28 billion, a price-to-earnings ratio of 38.90 and a beta of 1.05. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. The company’s 50 day moving average is $216.50 and its 200 day moving average is $208.63.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) 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 firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The company’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, December 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is currently 60.90%.

Insider Activity

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $209.31, for a total transaction of $5,232,750.00. Following the sale, the chief executive officer now directly owns 206,349 shares of the company’s stock, valued at $43,190,909.19. This trade represents a 10.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas P. Carey sold 10,757 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $226.82, for a total value of $2,439,902.74. Following the completion of the transaction, the vice president now directly owns 12,689 shares of the company’s stock, valued at approximately $2,878,118.98. This trade represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,033 shares of company stock valued at $23,382,322 in the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on BR. JPMorgan Chase & Co. boosted their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Morgan Stanley boosted 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 report on Wednesday, November 6th. Finally, StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $217.83.

About Broadridge Financial Solutions

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.