Tobam Lowers Stock Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Tobam lessened its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 20.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,650 shares of the business services provider’s stock after selling 416 shares during the period. Tobam’s holdings in Broadridge Financial Solutions were worth $325,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of BR. International Assets Investment Management LLC purchased a new position in Broadridge Financial Solutions in the fourth quarter valued at about $227,750,000. Federated Hermes Inc. increased its position in Broadridge Financial Solutions by 105.5% in the 4th quarter. Federated Hermes Inc. now owns 2,277 shares of the business services provider’s stock valued at $468,000 after acquiring an additional 1,169 shares during the period. Atria Wealth Solutions Inc. boosted its stake in Broadridge Financial Solutions by 124.2% during the 4th quarter. Atria Wealth Solutions Inc. now owns 3,534 shares of the business services provider’s stock valued at $730,000 after purchasing an additional 1,958 shares in the last quarter. Silver Oak Securities Incorporated boosted its stake in Broadridge Financial Solutions by 12.9% during the 4th quarter. Silver Oak Securities Incorporated now owns 1,099 shares of the business services provider’s stock valued at $226,000 after purchasing an additional 126 shares in the last quarter. Finally, Mather Group LLC. boosted its stake in Broadridge Financial Solutions by 10.3% during the 4th quarter. Mather Group LLC. now owns 2,772 shares of the business services provider’s stock valued at $570,000 after purchasing an additional 258 shares in the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Trading Down 0.3 %

BR traded down $0.55 during trading on Friday, hitting $211.55. 118,426 shares of the stock traded hands, compared to its average volume of 521,517. The firm has a market capitalization of $25.00 billion, a P/E ratio of 36.19 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. The firm has a 50-day moving average of $207.10 and a 200 day moving average of $202.06. Broadridge Financial Solutions, Inc. has a 12-month low of $166.73 and a 12-month high of $223.81.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share 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 period last year, the business earned $3.21 EPS. Broadridge Financial Solutions’s revenue was up 5.7% compared to the same quarter last year. Equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors 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 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 1.66%. Broadridge Financial Solutions’s dividend payout ratio is 60.07%.

Insider Buying and Selling

In other news, President Christopher John Perry sold 31,539 shares of the firm’s stock in a transaction that occurred on 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 sale, the president now 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 available through the SEC website. In other news, President Christopher John Perry sold 31,539 shares of the business’s 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 transaction, the president now 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 SEC, which is available at this hyperlink. Also, VP Laura Matlin sold 673 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of the transaction, the vice president now directly owns 5,530 shares in the company, valued at approximately $1,194,480. The disclosure for this sale can be found here. Insiders sold a total of 98,387 shares of company stock valued at $20,503,110 over the last three months. 1.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on BR shares. JPMorgan Chase & Co. raised their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Royal Bank of Canada lifted their target price on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, DA Davidson restated a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of “Moderate Buy” and an average 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.