Walter Public Investments Inc. Trims Stake in Broadridge Financial Solutions, Inc. (NYSE:BR)

Walter Public Investments Inc. cut its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 77,842 shares of the business services provider’s stock after selling 112 shares during the period. Broadridge Financial Solutions accounts for approximately 2.8% of Walter Public Investments Inc.’s portfolio, making the stock its 15th largest position. Walter Public Investments Inc. owned 0.07% of Broadridge Financial Solutions worth $15,335,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Garrison Asset Management LLC lifted its stake in shares of Broadridge Financial Solutions by 0.3% in the 2nd quarter. Garrison Asset Management LLC now owns 17,943 shares of the business services provider’s stock valued at $3,535,000 after purchasing an additional 50 shares during the period. Oppenheimer Asset Management Inc. lifted its position in Broadridge Financial Solutions by 21.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 12,698 shares of the business services provider’s stock valued at $2,502,000 after buying an additional 2,235 shares during the period. Thoroughbred Financial Services LLC purchased a new stake in shares of Broadridge Financial Solutions in the 2nd quarter worth about $431,000. HBK Sorce Advisory LLC grew its position in shares of Broadridge Financial Solutions by 2.1% in the 2nd quarter. HBK Sorce Advisory LLC now owns 13,247 shares of the business services provider’s stock worth $2,610,000 after buying an additional 273 shares during the period. Finally, GHP Investment Advisors Inc. increased its stake in shares of Broadridge Financial Solutions by 4.7% in the 2nd quarter. GHP Investment Advisors Inc. now owns 40,038 shares of the business services provider’s stock worth $7,888,000 after acquiring an additional 1,787 shares in the last quarter. 90.03% of the stock is owned by institutional investors.

Insider Transactions at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 17,534 shares of the company’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 completion of the sale, the president now owns 50,237 shares in the company, valued at $10,721,078.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, President Christopher John Perry sold 17,534 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the sale, the president now directly owns 50,237 shares in the company, valued at $10,721,078.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy C. Gokey sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the sale, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at $41,963,149.25. The disclosure for this sale can be found here. Insiders have sold a total of 134,386 shares of company stock worth $28,112,824 in the last ninety days. Insiders own 1.60% of the company’s stock.

Broadridge Financial Solutions Stock Up 0.7 %

BR stock opened at $211.95 on Monday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. Broadridge Financial Solutions, Inc. has a 1-year low of $166.73 and a 1-year high of $223.81. The stock has a market capitalization of $24.74 billion, a P/E ratio of 36.17 and a beta of 1.05. The business has a fifty day moving average price of $209.72 and a 200-day moving average price of $203.14.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. 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 prior year, the business earned $3.21 EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities analysts forecast 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 declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.66%. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio is presently 54.61%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. DA Davidson restated a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Royal Bank of Canada raised their price objective on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $213.33.

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.