Burney Co. Sells 113 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Burney Co. reduced its position in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,330 shares of the business services provider’s stock after selling 113 shares during the quarter. Burney Co.’s holdings in Broadridge Financial Solutions were worth $4,005,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of BR. Vanguard Group Inc. lifted its holdings in Broadridge Financial Solutions by 0.3% in the first quarter. Vanguard Group Inc. now owns 13,991,206 shares of the business services provider’s stock valued at $2,866,238,000 after buying an additional 39,537 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in 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 acquiring an additional 28,180 shares during the period. Capital International Investors raised its position in shares of Broadridge Financial Solutions by 0.3% in the 1st quarter. Capital International Investors now owns 3,061,983 shares of the business services provider’s stock worth $627,278,000 after acquiring an additional 7,970 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position 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 worth $306,609,000 after acquiring an additional 43,958 shares in the last quarter. Finally, Bahl & Gaynor Inc. lifted its stake 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 purchasing an additional 20,023 shares during the period. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Stock Down 0.0 %

Shares of NYSE BR traded down $0.08 during midday trading on Thursday, hitting $211.51. 166,396 shares of the stock traded hands, compared to its average volume of 522,759. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.39 and a current ratio of 1.39. Broadridge Financial Solutions, Inc. has a one year low of $166.73 and a one year high of $223.81. The business has a 50 day moving average price of $206.86 and a two-hundred day moving average price of $201.99. The company has a market cap of $25.00 billion, a PE ratio of 36.11 and a beta of 1.04.

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 net margin of 10.92% and a return on equity of 40.88%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the business posted $3.21 EPS. Broadridge Financial Solutions’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities analysts predict that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

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

Analysts Set New Price Targets

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

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 3,473 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total transaction of $687,862.38. Following the completion of the sale, the director now directly owns 22,588 shares of the company’s stock, valued at approximately $4,473,779.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $209.11, for a total value of $5,227,750.00. Following the completion of the sale, the chief executive officer now owns 200,675 shares in the company, valued at $41,963,149.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert N. Duelks sold 3,473 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total transaction of $687,862.38. Following the transaction, the director now directly owns 22,588 shares in the company, valued at $4,473,779.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 98,387 shares of company stock valued at $20,503,110. 1.60% of the stock is owned by corporate insiders.

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.