McCollum Christoferson Group LLC Decreases Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

McCollum Christoferson Group LLC lowered its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,168 shares of the business services provider’s stock after selling 148 shares during the quarter. Broadridge Financial Solutions accounts for about 2.4% of McCollum Christoferson Group LLC’s investment portfolio, making the stock its 19th biggest holding. McCollum Christoferson Group LLC’s holdings in Broadridge Financial Solutions were worth $8,422,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. EdgeRock Capital LLC purchased a new stake in Broadridge Financial Solutions during the second quarter valued at $32,000. Rothschild Investment LLC bought a new stake in Broadridge Financial Solutions during the second quarter valued at about $32,000. New Covenant Trust Company N.A. bought a new stake in Broadridge Financial Solutions during the first quarter valued at about $34,000. Family Firm Inc. bought a new stake in Broadridge Financial Solutions during the second quarter valued at about $37,000. Finally, McClarren Financial Advisors Inc. grew its holdings in Broadridge Financial Solutions by 65.5% during the second quarter. McClarren Financial Advisors Inc. now owns 197 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 78 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, Royal Bank of Canada upped 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. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $213.33.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, VP Laura Matlin sold 673 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the sale, the vice president now directly owns 5,530 shares in the company, valued at $1,194,480. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Broadridge Financial Solutions news, President Christopher John Perry sold 17,534 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the transaction, the president now directly owns 50,237 shares in the company, valued at $10,721,078.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Laura Matlin sold 673 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total value of $145,368.00. Following the transaction, the vice president now owns 5,530 shares in the company, valued at $1,194,480. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 134,386 shares of company stock valued at $28,112,824. Insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $219.22 on Thursday. The business has a 50-day moving average price of $212.49 and a 200-day moving average price of $204.93. Broadridge Financial Solutions, Inc. has a twelve month low of $166.73 and a twelve month high of $224.32. The firm has a market cap of $25.91 billion, a price-to-earnings ratio of 37.41 and a beta of 1.05. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 EPS for the quarter, beating 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 company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the prior year, the company earned $3.21 earnings per share. The firm’s revenue was up 5.7% on a year-over-year basis. As a group, equities research analysts predict that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Thursday, September 12th. This is a positive change from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a yield of 1.61%. Broadridge Financial Solutions’s dividend payout ratio is presently 60.07%.

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.