Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Montag & Caldwell LLC

Montag & Caldwell LLC lessened its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,941 shares of the business services provider’s stock after selling 53 shares during the quarter. Montag & Caldwell LLC’s holdings in Broadridge Financial Solutions were worth $973,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Confluence Investment Management LLC purchased a new stake in shares of Broadridge Financial Solutions during the first quarter worth $144,033,000. APG Asset Management US Inc. purchased a new stake in Broadridge Financial Solutions during the 4th quarter worth about $70,498,000. Norges Bank acquired a new stake in Broadridge Financial Solutions in the 4th quarter valued at about $67,605,000. Veritas Investment Partners UK Ltd. boosted its stake 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 valued at $210,031,000 after buying an additional 147,293 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Broadridge Financial Solutions by 206.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 200,371 shares of the business services provider’s stock worth $412,000 after buying an additional 134,911 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Insider Activity

In other news, President Christopher John Perry sold 31,539 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total value of $6,540,242.43. Following the transaction, the president now directly owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, President Christopher John Perry sold 31,539 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the completion of the sale, the president now owns 67,215 shares in the company, valued at $13,938,374.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Laura Matlin sold 673 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the completion of the transaction, the vice president now owns 5,530 shares in the company, valued at approximately $1,194,480. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,386 shares of company stock valued at $28,112,824. 1.60% of the stock is currently owned by company insiders.

Broadridge Financial Solutions Trading Up 0.7 %

NYSE BR opened at $211.95 on Monday. Broadridge Financial Solutions, Inc. has a 12 month low of $166.73 and a 12 month high of $223.81. The company has a market capitalization of $24.74 billion, a price-to-earnings ratio of 36.17 and a beta of 1.05. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. The firm’s fifty day moving average price is $209.72 and its 200 day moving average price is $203.14.

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

Broadridge Financial Solutions Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.52 dividend on an annualized basis and a yield of 1.66%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. Broadridge Financial Solutions’s payout ratio is currently 54.61%.

Wall Street Analysts Forecast Growth

BR has been the topic of several analyst reports. JPMorgan Chase & Co. raised their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. DA Davidson reaffirmed a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Finally, Royal Bank of Canada raised their price target on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $213.33.

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.