Kesler Norman & Wride LLC Has $1.80 Million Stock Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

Kesler Norman & Wride LLC lowered its stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 17.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 8,787 shares of the business services provider’s stock after selling 1,815 shares during the quarter. Kesler Norman & Wride LLC’s holdings in Broadridge Financial Solutions were worth $1,801,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BR. Confluence Investment Management LLC acquired a new stake in shares of Broadridge Financial Solutions in the 1st quarter worth about $144,033,000. APG Asset Management US Inc. acquired a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth about $70,498,000. Norges Bank acquired a new stake in shares of Broadridge Financial Solutions in the 4th quarter worth about $67,605,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Broadridge Financial Solutions by 28.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,452,720 shares of the business services provider’s stock worth $286,360,000 after acquiring an additional 323,051 shares during the last quarter. Finally, Veritas Investment Partners UK Ltd. raised its holdings in shares of Broadridge Financial Solutions by 16.9% in the 4th quarter. Veritas Investment Partners UK Ltd. now owns 1,020,533 shares of the business services provider’s stock worth $210,031,000 after acquiring an additional 147,293 shares during the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

Analyst Ratings Changes

BR has been the topic of a number of analyst reports. DA Davidson restated a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Evercore ISI reaffirmed an “outperform” rating and issued a $230.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $239.00 price objective on shares of Broadridge Financial Solutions in a research report on Friday, June 28th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $206.67.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock traded up $1.21 on Thursday, reaching $199.50. 191,892 shares of the company traded hands, compared to its average volume of 404,412. Broadridge Financial Solutions, Inc. has a 52 week low of $161.85 and a 52 week high of $210.24. The company has a 50 day moving average of $198.37 and a 200 day moving average of $200.05. The firm has a market capitalization of $23.58 billion, a PE ratio of 34.04 and a beta of 1.04. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Wednesday, May 8th. The business services provider reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.01). Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the company earned $2.05 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. Equities analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 earnings per share for the current year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Friday, June 14th. Broadridge Financial Solutions’s dividend payout ratio is currently 54.61%.

Insider Activity

In related news, VP Thomas P. Carey sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.40, for a total transaction of $501,000.00. Following the sale, the vice president now directly owns 9,361 shares in the company, valued at approximately $1,875,944.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Thomas P. Carey sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.40, for a total transaction of $501,000.00. Following the sale, the vice president now directly owns 9,361 shares in the company, valued at approximately $1,875,944.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert N. Duelks sold 3,473 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total transaction of $687,862.38. Following the sale, the director now owns 22,588 shares in the company, valued at $4,473,779.28. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

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.